‘The Labor Market Is in Worse Shape Than You Think’
April 7th, 2013Via: Daily Ticker:
Harding says the shift to low-wage jobs from “good, middle-class” jobs such as construction workers, bookkeepers, typists, bank tellers and data entry employees, has led to growing income inequality. These positions have been replaced by modern IT systems that companies are using to cut costs and increase their bottom lines.
“Companies are finding ways to automate these office processes,” Harding says, and this leads “to a lot fewer of the steady office jobs that the middle class has been relying on since the second world war.”
Harding analyzed salaries for fast-growing occupations over the past year. He found that the average wage for a clerical job in 2012 was $34,410. But the positions that are being created in this economy – like a personal care aid – paid on average of $24,550.
