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

in Black Friday, Entertainment

PHOTOS: Macy’s Parade through the years

AP970543650046_2

For 88 years the iconic Macy's Parade has been a Thanksgiving tradition.

in Entertainment

William Shatner needs your help to publish his book

shatner

The "Star Trek" star wants to publish a book explaining the mysteries of modern technology.

in Entertainment

‘Horrible Bosses 2′ reunites goofball trio for kidnapping comedy

horribleboss

After an unsuccessful attempt to murder their "Horrible Bosses" in the 2011 hit comedy, buddies Nick, Kurt and Dale reunite.

in Sports, Viral Videos

Dude Perfect: Seattle Seahawks edition

11-overlay4

Super Bowl QB Russell Wilson hits insane targets, draws a Seahawk, sings "Sweet Home Alabama" and more!

in Black Friday, Viral Videos

John Oliver takes on Turkey pardoning

13-overlay5

The silly tradition is lampooned by the "Last Week Tonight" host.