Bulk of U.S. Payroll Gain in Jobs Paying Less-Than-Average Wages

[marmar]

(Bloomberg) Occupations paying below-average wages accounted for more than half of last month’s U.S. payroll increase, a dynamic that may restrain consumer spending and the economic recovery.

Retailers, the hospitality industry and temporary-help agencies accounted for 96,300, or 55 percent, of 175,000 jobs added in May, figures from the Labor Department showed today in Washington.

“It’s not just jobs, it’s the kinds of jobs we’re creating,” said Diane Swonk, chief economist at Chicago-based Mesirow Financial Inc. “We need to see more broad-based and even growth in the economy to see better jobs return. We’re still relying too much on the part-time and contingent workforce.”

The composition of the employment gain caused hourly earnings for all employees to stagnate at $23.89 on average last month, up a cent from April. They rose 2 percent over the past 12 months, compared with year-to-year increases averaging 3.5 percent in the 10 months leading up to the recession that began in December 2007. .................(more)

The complete piece is at: http://www.bloomberg.com/news/2013-06-07/bulk-of-u-s-payroll-gain-in-jobs-paying-less-than-average-wages.html

[xchrom]

1. du rec.

[Skittles]

2. wasn't that the point?

the recession really has worked out well for the 1%, hasn't it?

[DCKit]

3. What I can't figure out is "Who are we serving?" with these McJobs.

Which part of our society suddenly became consumers?