Friday, August 16, 2013

Digging Below the Surface of Job Gains: "Not That Wonderful a Picture"

Meet the Council.

The annual pay for someone working full-time at $9.50 an hour is $19,760.

For a family of two, the poverty line is set at a household income of $19,090 per year.  For a family of 4, it's $23,050.

Grim Picture of Recovery in Forecasts by Retailers. (The New York Times, 8/15/2013)

Excerpt:     “A lot of the gains have been in extremely low-paying sectors: 
  • retail, 
  • health care, 
  • temporary employment,” said Joshua Shapiro, chief economist at MFR
When it is not full-time work, he said, benefits are low to nonexistent.

Wonder what kind of benefits those $9.50 an hour jobs have?

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