Posted on 11/27/2019 7:44:00 AM PST by Oldeconomybuyer
Although the U.S. is on a record streak for job-creation, many Americans still feel like they can't get ahead — it's not their imagination. The last three decades have seen the economy churn out more and more jobs that offer inadequate pay, a group of researchers found.
"The history of private-sector employment in the U.S. over the past three decades is one of overall degradation in the ability of many American jobs to support households — even those with multiple jobholders," they wrote.
The group wants to popularize a new economic metric, called the Job Quality Index, that goes beyond the usual labor market barometers, which tend to focus on the quantity of employment.
"In 1990, the jobs were pretty much evenly divided" said Daniel Alpert, a founder of Westwood Capital and one of the creators of the index. In the process of running the numbers, he said, "We discovered that 63% of all jobs that were created since 1990 were low-wage, low-hour jobs. That was a pretty stunning statistic."
To calculate the index's value, the researchers split up the jobs created every month into those that pay above average and those that pay below average, and then divide one figure into the other. An index value below 100 means there are more lower-paying jobs relative to higher-paying jobs; a value above 100 means the opposite.
Other entities involved in the creation of the index are the Cornell University Law School, the University of Missouri at Kansas City, the Coalition for a Prosperous America and the Global Institute for Sustainable Prosperity.
(Excerpt) Read more at cbsnews.com ...
More spinning from CBS otherwise known as The Center for BS!
63% of all jobs that were created since 1990 were low-wage, low-hour jobs
They should have gotten a trade or went to college for a real major.
Now STFU and get two jobs.
Had 2 jobs quite a number of times.
Life’s a bitch for everyone.
The vodka bottle is always half empty isn’t it, Comrade Ivana?
It is only what is to be expected of people who vote for Democrats not being able to get ahead. It shows that they are not capable of serious critical thinking which is necessary to move up the chain.
Those Women’s Studies degrees just don’t get you the paycheck they used to as a barista at the Starbucks.
My apologies to Ivana.
This is why we have to bring manufacturing back from Asia and Mexico. Trump wants to, but the GOP establishment and Clinton Democrats fight him
Every silver lining has a dark cloud doesn’t it, Comrade Irina?
Doubt if that's true but even it is, that probably has more to do with the explosive growth of local, state and federal governments and their lucrative salaries, benefits and pension packages along with reckless government deficit spending.
They’re called “starter jobs.”
You’re not supposed to stay in the same job forever.
You get better jobs as your skills increase.
Democrats believe that nothing should ever change. Climate should never change. And people should never change. They should remain in the same racist caste assigned to them by Democrats forever.
Well, I bet if people paid less in taxes they’d be better off. But after federal taxes, and state taxes, and point-of-purchase taxes, most of us are lucky to have 63% of our money actually used for purchasing anything.
Stress is caused by unmet expectations. Too many people aren’t getting paid what they think they are worth. If you can’t change the pay... change your expectations.
Yup - Republicrats have been eagerly mass-offshoring jobs and mass-onshoring Third World serfs, legal and illegal.
Yup. Frustration with stagnant wages is one of the major factors that got Trump elected.
Oh great, another thing that is reported on breathlessly during republican admistrations and disappears during dem ones. Like the doomsday clock, the homeless, AIDS, etc
You see, the millions of jobs created during a Republican administration are low-wage, dead-end, crappy jobs which don’t support a family.
The meager jobs created during a Democrat administration are awesome! And when no jobs are created during a Democrat administration (Obama) it’s the new normal, you can’t wave a magic wand, and oh by the way, isn’t it great to be unemployed and reconnect with your family and your hobbies!
“... went to college for a real major.”
Agree with you there. Also IMO, Student Loans should be given for the sciences, math, engineering, BS degree etc.
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