Monday, April 28, 2014

Nice graphic on the number of jobs lost during the recession then gained back, by wage range. Surprised?

This graphic on the losses and then gains in jobs in different wage bands is from The National Employment Law Project. (A liberal group). It has some other interesting graphics and explanations as well. Worth a read.

If you take the number of jobs gained since the end of the recession and divide that by the number lost during the recession you will get a "New job per Job Lost Ratio" for each of the wage categories.

For High wage industries the ratio is: .73 (every job lost we have gained .73 jobs back. 27 percentage points below parity)

For Mid-wage industries the ratio is: .70 (every job lost we have gained .70  jobs back. 30 percentage points below parity)

For Low-wage industries the ratio is: 1.94 (every job lost we have gained 1.94 jobs back.  94 percentage points ABOVE parity)


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