US- 5 years after the Great Recession

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Job Market Monitor

The economy reached another milestone last month: All 8.7 million jobs lost in 2008 and 2009 have now been regained. Capture d’écran 2014-06-23 à 08.17.04

But while the nations payrolls are back to their previous high, they havent kept pace with growth in the working-age population over the last few years.

Moreover, many of the jobs lost have been replaced with lower-paying ones.

As of May, total employment in construction and manufacturing, where pay is relatively high, was down more than 3 million compared with before the recession.

By contrast, restaurants, temporary help firms and retail outlets have added 3 million jobs, making them three of the fastest-hiring industries during the recovery. But their average hourly pay ranges from $12.35 for restaurants to $16.96 for retail, compared with $24.72 for manufacturing and $26.59 for construction.

There have been robust job gains in healthcare, where workers in doctors offices typically earn more than $37.54 an hour…

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