News

Report: More U.S. jobs, less pay

Report: More U.S. jobs, less pay

JOBS:In this photo taken Wednesday, July 16, job seekers check out the job opportunities at a Hiring Fair For Veterans in Fort Lauderdale, Fla. Florida led the nation in job growth in June, a sharp turnaround from the previous month. Photo: Associated Press/Alan Diaz

(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 2008-09 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.

(Reporting by Megan Davies, editing Bernard Orr)

Recent Headlines

1 hour ago in Viral Videos

Elton John carpool karaoke

Fresh
19-overlay

James Corden asks Elton John to help him navigate Los Angeles on a rainy day.

2 hours ago in Music

Metallica isn’t holding their breath for a Super Bowl invitation

Fresh
metallicahetfield

The band says have their doubts that they'd ever be asked to do the Super Bowl halftime show.

4 hours ago in Entertainment

‘Star Wars’ breaks new record

24-overlay-2

The sci-fi epic, directed by J.J. Abrams, previously became the highest-grossing release in North American film history, after recently passing the $760.5 million "Avatar" hauled in in 2009.

5 hours ago in Sports

Zika fears prompt Olympic concerns

zika

The United States Olympic Committee told U.S. sports federations that athletes and staff concerned for their health over the Zika virus should consider not going to the Rio 2016 Olympic Games in August.

5 hours ago in Entertainment

PewDiePie, others set to star in YouTube’s first original shows

youtube

YouTube's viral video stars, many of whom have a fan following in the millions, are set to appear in original movies and a show, as the video site attempts to attract users to its paid service.