60% Of New Jobs In 2010 Were In Low-Paying Industries

From Huffington Post: http://www.huffingtonpost.com/2011/01/13/new-jobs-in-2010-60-were-_n_808447.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+HP%2FBusiness+%28Business+on+The+Huffington+Post%29

By Lila Shapiro

January 13, 2011

Following last week’s disappointing job report, investment research group TrimTabs brings us an even sharper picture of an economy not on the verge of an economic recovery. (Hat tip to Zero Hedge.)

TrimTabs drills into the Labor Bureau’s data for new jobs added in last year, to reveal some unsetting details: “Of the 1.1 million private jobs gained in the last year, 650,000 or 60% are jobs that have absolutely no real wealth creation capacity, nor do they provide any real benefits.”

60% of new jobs went to Temporary Help, Leisure & Hospitality and Retail trade. Leisure and hospitality pays an average hourly wage of $13.14, while a retail salesperson brings in an average of $11.84 an hour, according to the BLS’ database. Temporary help services can be slightly more lucrative at the higher end (Registered Nurses earn $32.77 an hour), but packers and packagers only earn an average of $8.62 per hour.

As TrimTabs puts it:

Continue reading at:  http://www.huffingtonpost.com/2011/01/13/new-jobs-in-2010-60-were-_n_808447.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+HP%2FBusiness+%28Business+on+The+Huffington+Post%29

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