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What Quality Jobs? Over Half Of May Payroll Growth Is In Education, Leisure And Temp Help Jobs
What Quality Jobs? Over Half Of May Payroll Growth Is In Education, Leisure And Temp Help Jobs Submitted by Tyler Durden on 06/06/2014 09:29 -0400
If there was some hope that in April the trend of the US adding low-quality (as in low-paying) jobs may finally be coming to an end, this came to a quick end in May, when more than half of the 217K jobs added were in the lowest paying sectors. Specifically:
Education and health: +63K Leisure and Hospitality: +39K Temp Help Services: +14K
These three lowest paying categories amount to 116K, or well over half of the total jobs gains. What's more, if there was some hope for a construction renaissance in April after 34K jobs were added in the sector, in May this too came to a grinding halt after only 6K construction jobs were added. The best paying jobs: financials and information, also deteriorated, with fins adding 3K in May, half of the April gain, while 5K Information jobs were outright lost in the past month, compared to a gain of 1K jobs.
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Fri Jun 06, 2014 11:41 am
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