U.S. jobs rose since '08 crisis, but pay is 23 pct less: report

Mon Aug 11, 2014 1:55pm EDT

A man fills out paperwork before a screening session for seasonal jobs at Coney Island in the Brooklyn borough of New York March 4, 2014.   REUTERS/Shannon Stapleton

A man fills out paperwork before a screening session for seasonal jobs at Coney Island in the Brooklyn borough of New York March 4, 2014.

Credit: Reuters/Shannon Stapleton

(Reuters) - Jobs growth in the U.S. since the 2008 recession has been undermined by lower wages, with workers earning an average 23 percent less than earnings from jobs which were lost, a report by an organization representing U.S. cities said on Monday.

The average annual salary in sectors where jobs were lost - particularly manufacturing and construction - during the 2008-9 financial crisis was $61,637, according to the report by the United States Conference of Mayors (USCM), which represents cities with populations of more than 30,000.

Job gains through the second quarter of 2014 in comparative sectors showed average wages of $47,171, implying $93 billion in lower wage income, the report said.

The report also showed that the majority of metro areas - 73 percent - had households earning salaries of less than $35,000 a year.

The latest monthly employment data from the Labor Department showed that more than 200,000 jobs were created for the sixth straight month in July, but that wages were about flat in the private sector.

American workers, on average, earned $24.45 an hour in July, up only a penny from June. Over the last year, wages have grown just 2 percent, in keeping with where they have been stuck since late 2009.

For a link to the USCM press release and report: www.usmayors.org/

(Reporting by Megan Davies, editing Bernard Orr)

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Comments (16)
pdxuser wrote:
This how statistical contortion leads to false results. Instead of guessing how much people make based on the industry they’re in, just ask them directly. Look up “Average Hourly Earnings chart.” You’ll see that wages are up, not down.

Aug 11, 2014 2:10pm EDT  --  Report as abuse
chuck2 wrote:
Yeo, workers do not need the “evil unions” as companies do listen their needs and wants, Yep there is no huge economic gap in USA, only “class wars”. Yep be loyal,work hard, you will be rewarded, Yep today you do not get rich via favorable legislation, rather from hard work. Yep workers should be “personally responsible for their medical care, insurances, and retirement and C// level are only awarded what they are worth. Yep, in USA we are all equal…as ole saying goes.

Aug 11, 2014 2:15pm EDT  --  Report as abuse
mickey58 wrote:
Not much of a surprise. Does anyone wonder why the rich are getting richer.

Aug 11, 2014 2:49pm EDT  --  Report as abuse
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