In 1968, minimum wage kept a family of three above the poverty line. In 2013, it cannot keep a family of two out of poverty. The dashed prediction is based on the new proposed minimum wage law.
Posts Tagged ‘jobs’
There has been no employment growth in non-metro counties in the past year. Indeed, since the recovery began, suburban and rural areas have been almost entirely left out of the benefits.
–from The Washington Post
Only 29% of millennials, those aged 18-31, who live with their parents are currently employed. In other words, This is out of the 36% of the generation who live at home. This is a substantial number of young people out of the job market.
Wages between $14 and $21 an hour, which are considered mid-wage jobs, have not yet recovered from their 2008 downturn. This provides further evidence of an increasingly bifurcating labor market with great increases on the top and the bottom.
Around 19% of Americans feel overqualified for their jobs. This is below the OECD average and a number of other G8 countries.
–from The Atlantic
While 17.6% of new, post-recession jobs in the US are temporary and low-paying jobs, only 2.7% of new Canadian jobs are low-paying. More than 50% of new jobs in Toronto, Hamilton (a suburb of Toronto), and Regina, Saskatchewan pay more than $30 an hour.
–from The Atlantic
Although the number of people who don’t work because they can’t find a job has jumped 10% since 2006, it still makes up a minority of reasons not to work. Of particular interest are disabilities, which are up substantially in absolute terms, but make up a smaller percentage than in the past.
–from The Atlantic Cities
Some of the biggest middle-income careers have been losing jobs since 2010, while those at the top and bottom of the pay scale have been increasing. In particular, teaching and construction have declined by more than 150,000 combined the past few years while low-wage, low-skill positions like food preparation and personal care have greatly increased.
The employment-population ratio, the measure of the number of employed civilians of working age compared to total civilians of working age, has dropped 4.9% from the most recent peak of 63.4% in December 2006 to 58.5% in March 2013. The last time the ratio was this low, prior to the 2007 downturn, was October of 1983.
For more information, see our Employment Report.
–Data from the St. Louis Federal Reserve
The number of people quitting their jobs, part of the Job Openings and Labor Turnover Survey (JOLTS), is at the highest level since 2008, and up significantly over the past few months. This implies that people are comfortable enough to quit their jobs and assume they can find another. For more information, see our JOLTS Report.
–from Business Insider