[Marxism] The Day of Reckoning on the Home Front
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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