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  News

America's Job Problem: Employers Are Hiring, But Pay Is Low

  Sunday, February 9th 2020, 4:37 PM CST
  By: CBS News
  [File Photo]
  [File Photo]

  Hiring remains vigorous in the U.S., with the governmentʼs [3]latest
  job numbers highlighting the ongoing strength of the labor market more
  than a decade into a record-long economic expansion. Yet that jobs boom
  conceals a less cheery reality: Most of that work doesnʼt pay people
  much money.

  About 55% of the 225,000 private-sector jobs that employers added in
  January offer low wages, according to the [4]Job Quality Index, a new
  effort from Cornell University researchers to measure the quality of
  jobs beyond the quantitative data provided each month by the U.S.
  Department of Labor.

  These jobs typically pay $10 to $15 an hour, which translates to about
  $400 to $600 in weekly wages — well below the $765 in weekly earnings
  for most non-government workers.

  What the Cornell researchers call "low-quality jobs" are a problem not
  only for many families, but potentially for the U.S. as a whole. Poorer
  households may not have much wiggle room in their spending, restraining
  growth in an economy where roughly two-thirds of activity depends on
  consumers opening their wallets. The Trump administration has set a
  goal of 3% annual economic growth. Yet the nationʼs gross domestic
  product rose [5]2.3% last year, a decline from 2.9% in 2018.

  "When you have greater reliance on low-quality jobs, it means the
  economy isnʼt growing as fast as it should than if you had an even
  distribution of low- and high-quality jobs," said Daniel Alpert, a
  founder of Westwood Capital and one of the creators of the Cornell
  index.

  To be sure, employersʼ reliance on low-wage workers isnʼt new. Since
  the 1990s, the economy has churned out more jobs that offer little pay,
  according to the Job Quality Index and other labor data. But despite
  the growing economy, employers are continuing to create more low-wage
  jobs now than during the recession.

  "Left behind"

  That sheds light on the Brookings Institutionʼs findings in November
  that almost [6]half of U.S. workers are employed in jobs that pay
  median annual wages of $18,000. And most of these workers arenʼt
  teenagers or young adults just starting their careers, but rather are
  in their prime working years.

  "There is fundamentally a feeling on the part of the average guy that
  he is being left behind, and this data just confirms that," Alpert
  said.

  The news isnʼt all bad — many low-wage worker are getting raises. In
  December, median wage growth for the bottom 25% of
  workers [7]reached 4.6% for the 12-month period, outpacing a 3% gain in
  median earnings for the top 25% of income earners. Nearly 60% of
  Americans also say theyʼre better off financially today than a year
  ago, according to a [8]Gallup poll this week.

  But recent pay gains at the lower end of income ladder are largely due
  to a number of states and cities acting to raise the local minimum
  wage. The federal baseline wage has been [9]stuck at $7.25 an
  hour since 2009.

  States that boosted their minimum wage between 2013 and 2018 saw pay
  for their lowest-paid workers grow more than 50% faster than those that
  didnʼt, according to an [10]analysis from the left-leaning Economic
  Policy Institute.

  First published on February 7, 2020 / 5:47 PM

  © 2020 CBS Interactive Inc.. All Rights Reserved.

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  4. https://www.jobqualityindex.com/
  5. https://www.bea.gov/system/files/2020-01/gdp4q19_adv_0.pdf
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  9. https://www.cbsnews.com/news/federal-minimum-wage-sets-record-for-length-with-no-increase/
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