Low-paying jobs are here to stay

NEW YORK (CNNMoney) -- Stuck in a job with lousy pay? Better get used to it.

Some 28% of workers are expected to hold low-wage jobs in 2020, roughly the same percentage as in 2010, according to a study by the Economic Policy Institute.

The study defines low-paying jobs as those with wages at or below what full-time workers must earn to live above the poverty level for a family of four. In 2011, this was $23,005, or $11.06 an hour.

The economy won't support much growth in jobs with higher salaries, said Rebecca Thiess, policy analyst at the left-leaning Economic Policy Institute, who crunched government data to come up with these projections.

http://money.cnn.com/2012/08/02/news/economy/low-pay-jobs/?google_editors_picks=true

Is there a term besides "fucked" for "at or below the poverty level"?

5 replies, 653 views

Reply to this thread

Always highlight: 10 newest replies | Replies posted after I mark a forum

Replies to this discussion thread

5 replies	Author	Time	Post
Low-paying jobs are here to stay (Original post)	IDemo	Aug 2012	OP
I've been trying to tell people this for years	salvorhardin	Aug 2012	#1
It wasn't a recovery.	woo me with science	Aug 2012	#2
Kick	salvorhardin	Aug 2012	#3
Yes. Minimum wage.	Trillo	Aug 2012	#4
Rec for visibility. nt	TBF	Aug 2012	#5

Response to IDemo (Original post)

Thu Aug 2, 2012, 04:06 PM

salvorhardin (9,995 posts)

1. I've been trying to tell people this for years

The economy won't support much growth in jobs with higher salaries, said Rebecca Thiess, policy analyst at the left-leaning Economic Policy Institute, who crunched government data to come up with these projections.

"Far too many economic pundits take for granted that the economy of the future will demand far greater skills and credentials," she wrote in a recent paper.

It's right there in the BLS projections for anybody who cares to take a look. All those STEM grads we're going to be turning out, all those kids we'll be forcing to take on mountains of student loan debt, there aren't going to be jobs for them except as fast food workers, shop clerks, and home health aides.

Reply to this post

Response to IDemo (Original post)

Thu Aug 2, 2012, 04:08 PM

woo me with science (19,580 posts)