The Low-wage, Low-education U.S. Future?
Will the U.S. economy become dominated by retail, leisure and education/health services?
January 2, 2014
1. The bottom 20% of U.S. workers by income – 28 million workers – earn less than $9.89/hour.
2. $9.89/hour translates to $20,570 a year for a full-time employee.
3. The median U.S. worker’s income fell 5% between 2006 and 2012, in line with longer trends.
4. Wages for workers at the 50th percentile (median pay of $16.30 an hour) have fallen 3.4%, while pay for the top 10% rose 3%.
5. 20 of the U.S.’s fastest-growing jobs, like nursing home aid and retail clear, do not require a college education.
6. Low-wage jobs will play an ever-bigger role in countries’ economic futures.
7. Most U.S. workers who earn between $7.25 and $10/hour are employed in three industries: retail (24%), leisure/ hospitality (23%), or education or health services (19%).
From Fighting Back Against Wretched Wages by Steven Greenhouse (Economic Policy Institute via New York Times)
Takeaways
The bottom 20% of US workers earn less than $9.89/hour which equals $20,570 a year for a full-time employee.
20 of the US’s fastest-growing jobs do not require a college education.
Most US workers earning $7.25-$10/hour are employed in retail, leisure/hospitality, or education/health services.
