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Jobs Machine in U.S. Created More Than Burger Flippers Last Year

This is a discussion on Jobs Machine in U.S. Created More Than Burger Flippers Last Year within the Current Events forums, part of the Tech Support Forum category. The biggest private employment increase in 17 years was driven by gains among above-average paying jobs, dispelling the popular notion


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Old 01-14-2015, 08:12 AM   #1
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The biggest private employment increase in 17 years was driven by gains among above-average paying jobs, dispelling the popular notion that the U.S. is turning into a nation of fast-food workers.

Industries that pay employees more than the average for all workers accounted for 66 percent of total jobs created in 2014, based on data compiled by Bloomberg from Labor Department records. Business services -- staffing agencies, accountants, consultants and computer-system designers -- and goods producers, including construction firms and manufacturers, were among those hiring the most.

The pickup indicates the high-flying jobs that were hit hardest during the worst recession in the post-World War II era are making a comeback as the economic expansion gathers momentum. An unexpected slump in wage growth last month had raised some concern that increases in employment were skewed toward lower-paying occupations.

“The reality is really quite different,” said Eric Green, head of rates and economic research at TD Securities USA LLC in New York. “The destruction of these high-paying jobs was much more pronounced in the downturn, but the acceleration off the bottom has been much more pronounced also.”

Slow but steady recovery seems to be bringing back the higher paying jobs as well

Jobs Machine in U.S. Created More Than Burger Flippers Last Year - Bloomberg
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