[Marxism] The Day of Reckoning on the Home Front

Louis Proyect lnp3 at panix.com
Fri Jun 4 13:27:09 MDT 2004

Yoshie Furuhashi wrote:
> Doug Henwood of the Left Business Observer declares: "No one can call 
> this a jobless recovery anymore" (LBO-talk, June 4, 2004). . . .

With a solid job market recovery underway, it is useful to examine the 
industries that have been growing as a share of total employment and 
those that have been losing share.   Most industries are now adding 
jobs, but some are doing so at a below-average pace and thus losing 
ground as a share of total employment. On average, the industries that 
are expanding as a share of total employment pay lower wages than those 
that account for a smaller share of the total.

Averaging over the past three months, and comparing this year to last 
year, industries expanding as a share of total employment pay on average 
13% below industries contracting as a share. This is driven largely by 
the fact that even though industries such as manufacturing, information, 
and financial services are expanding again, they are growing more slowly 
than other low-paying sectors, such as hotels, restaurants, and temp jobs.


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