Not Just a Low-Wage Job Recovery - Nov. 1, 2012
NEW YORK (CNNMoney) — Don’t just call it a low-wage recovery.
It’s true that the economy has added a lot of low-paying jobs over the last two years. Restaurants and bars, which pay a median wage of just $9 an hour, have accounted for 15% of all the jobs created in the recovery. Retailers, which pay a median $11 an hour, make up another 9%.
But it’s not as if fast food joints and shopping centers are the only places adding jobs. Plenty of well-paying industries are hiring too.
Factories that make aircraft, cars and machinery have made up a good chunk of the job gains over the last two years, as have hospitals and doctors’ offices. So too have professional fields — particularly those that specialize in computer services or technology.
And wages in these industries are hardly low. All of them typically pay well above the median hourly wage of $16.57 an hour.