They tell a good story about the employment recovery in the US and the distribution of jobs among wage rates.
Here is the gist of it:
We lost a total of 6,819.000 higher and mid-wage jobs (maroon bars) and then gained back +4,885,000 (gold bars), for a net LOSS -1,933,000 jobs.
We lost a total of 1,973 low wage jobs but gained back 3,824,000 for a net GAIN of +1,891,000.
Subtract those two and you get a total jobs deficit of -82,000 jobs. (Note:Data for bar chart on RIGHT only goes to Feb of this year. Does not count March, April, May).
According the the Bureau of Labor Statistics, 417,000 of those 2.15 million "Health care and Social Assistance" jobs were in "Social Assistance" (19.4%). Also, according to the BLS those jobs have a median income of $13.87 (just barely into the mid-wage category) so the bottom half for the most part fall into the low wage category.
|Source: Wall Street Journal AND AEI|