Another dimension of the Obama recovery

Readers of my op-ed pieces know the last couple of points in this list, and given that permanent jobs are being replaced with temporary service sector jobs, the first few are not really surprising, even if they are depressing.

In the private sector, there is a striking imbalance between where the recession’s job losses occurred, and where the growth of the past 12 months was concentrated:
 Lower-wage industries constituted 23 percent of job loss, but fully 49 percent of recent growth
 Mid-wage industries constituted 36 percent of job loss, and 37 percent of recent growth
 Higher-wage industries constituted 40 percent of job loss, but only 14 percent of recent growth
The current recovery looks worse than the “jobless” recovery of the 2001 recession, on several fronts:
 After a year of positive job growth, the private sector after the 2001 recession had recovered almost half (47 percent) of the jobs it had lost. By contrast, to date the private sector has recovered only 14 percent of the jobs it lost during 2008 and 2009.
 The early job growth following the 2001 recession was more balanced than the early job growth following the 2008 recession, with significantly more growth in higher-wage industries.



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