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America’s Low-Paying Recovery: More Jobs Than Ever, Worse Wages

Posted August 12, 2014

Under Economic Issues

(Peter Coy – Bloomberg)

Jobs created since employment in the U.S. began expanding again tend to pay significantly less than the ones that were lost in the steep downturn, according to a new wage study prepared for the U.S. Conference of Mayors.

The U.S. economy lost nearly 9 million jobs from the start of 2008 through the start of 2010, and close to half of those losses were in two high-paying sectors, manufacturing and construction, according to the study by IHS Global Insight (IHS), an economic consulting company. The new report, released Monday by New York City Mayor Bill de Blasio and Boston Mayor Marty Walsh, puts the average pay in job-losing sectors at $61,637 in today’s dollars. Read more here.

Related: US Job Openings in June Hit 13-Year-Plus High (AP)