Lower-paying jobs dominate economic recovery, study finds

[alp227]

Source: LA Times

The U.S. economy earlier this year recovered all the jobs lost during the recession, but those new jobs pay an average of 23% less than the ones lost in the downturn, according to an analysis released Monday by the U.S. Conference of Mayors.

Job losses in the higher-paying manufacturing and construction sectors were largely replaced by jobs in lower-wage industries, including hospitality and healthcare, the report said.

It also found a continuing accumulation of wealth among the top 20% of the nation's earners. From 2005 to 2012, the highest income bracket was responsible more than 60% of all income gains in the country, the report said.

By contrast, the bottom 40% of earners saw only 6.6% of the increases.

Read more: http://www.latimes.com/business/la-fi-income-inequality-report-20140811-story.html

[hobbit709]

1. And water is wet.

[TheMastersNemesis]

2. Thanks Ronald Reagan - Your Revolution Succeeded.

He said he would create a "service economy'. Code words for low pay,no security, no benefits. etc.

[SoapBox]

4. Servitude to the 1%ers, that is....

[jtuck004]

6. With the help of the American People. Got what they chose, and perhaps deserved. And could

change it any time they want to.

Just have to hate the comfort of the plantation as much as one is afraid of not having it.

[SoapBox]

3. Yup!

And the .01% of the 1%, have the "brass" to complain that folks here get paid too much and get too many benefits.

[Brigid]

5. Sadly,

No surprises here.

[jtuck004]

7. It gets worse. This line...

"The U.S. economy earlier this year recovered all the jobs lost during the recession"

When you look at the details, they are showing how we have regained the jobs we lost and are now back where we were in 2008. Without jobs for the additional 16 million people who have joined us since.

Any job which replaces one which paid a living wage with less is not better than no job - it's servitude.

[whereisjustice]

8. Yet, Americans are always delighted to give India and China millions of jobs

so much so, they reward corporations with tax refunds to help pay for the expenses of sending those jobs overseas

It isn't cheap sending jobs to India, bribes to pay, people to fire, profits to hide, CEO bonuses...

Thank goodness for the corporate safety net.

But here's a little secret.... shhhhhh

China took our jobs, technology and training and built some bad ass weapons and now they're all in our face.

India, where about 400 million people earn $1.50/day or less, is getting too expensive. Oh, yes. Corporations are blubbering, streaming tears and tears about it. Heartbreaking.

Well good news! CEOs can wring out their hankies thanks to the Trans Pacific Partnership

Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the United States, and Vietnam, are all licking their chops over more US jobs (except for the US, of course. The 1% are licking their chops over more cheap labor and more places to hide profits).

And, ironically, China has asked to join! And what better way to keep their military up to snuff!

And if you haven't heard about it, that's because it's secret! Isn't that awesome? A massive public policy program which is going to send more jobs overseas is being written by legions of corporate lobbyists with ZERO public input! Why we haven't had that around these parts since the Insurance Company Protection Act aka Health Reform.

Washington keeps feeding us shit sandwiches. Stop pretending it tastes so delicious.

[Orsino]

9. It's not a goddamned recovery...

...unless you're talking the revenge of feudalism.