Daniel Alpert, Contributor
Dan Alpert is a founding managing partner of Westwood Capital, LLC. He has researched and written extensively on the housing and credit bubbles and the resulting economic crisis.
Dan Alpert is a founding managing partner of Westwood Capital, LLC. He has researched and written extensively on the housing and credit bubbles and the resulting economic crisis.
August BLS Data: U.S. Low-Wage Jobs Still Dominate Private Sector Job Creation
Here are the U.S. job creation numbers for August based on the analysis set forth in my July 2013 piece, “The New Sick-onomy.” Not only was the level of 152,000 private sector jobs created below estimates and “whisper numbers,” but the U.S. once again relied on low-wage jobs (generally one-third of total jobs in the economy) for 57 percent of total job creation. These jobs pay about $15.80/hour, whereas the other two-thirds of jobs in the economy pay over $27.00/hour.
The economy is not creating jobs that enable workers to hold their own relative to the cost of living.