Low Pay and Part Time Jobs Aplenty

peanut payThe month of July saw almost 162,000 jobs being posted through the media. Despite the large number, disappointment prevailed in the recruiting industry because the nature of the jobs was not at all impressive. A large percentage of these jobs were either part time or offered low salaries, whereas some of them had both these characteristics, which made it even worse.

Of the 162,000 open vacancies in July, almost 65 percent were part time positions. The percentage of low percent jobs also exceeded 50%. Most of these positions were offered by restaurants, bars and retailers which usually have no educational prerequisites. So what becomes of those people who acquire a degree after years of hard work and who employs them?

John Canally, who is an economist at LPL Financial in Boston stated that though there are quite a few jobs in the industry, their quality is not at par.

Among all the open positions, a huge 61% have been offered by the nation’s low paying industries. The surprising thing is that these industries only take up about 40% of the total US jobs, as stated by the Labor Department analysis which was conducted by Moody Analytics. The industries which pay average salaries occupy almost 22 percent of the job gain, and the rest is taken by the high paying jobs.

Steven Ricchiuto, who works as a chief economist at Mizuho Securities USA told his clients that the jobs which are currently being created in the industry cannot provide you with an income you desire. For this July, the average hourly rates are just about $24. This is perhaps the prime reason that America’s pay scale fails to suffice; even the fairly low inflation rates have prevailed ever since the Great Recession came to an end in the middle of 2009.

These low quality jobs have affected a high number of individuals in the job market. One example is Elizabeth Wilkinson, who is 28 years of age. This lady was earning about $39,000 a year by working as an administrative assistant. Ever since she lost her job, she has been making her living by working at an employment agency for $25 an hour. Additionally, she also works as a waitress so that she can earn more.

Just like Wilkinson, there are several other people who are going through the same thing. Hopefully when the economy improves, they will be able to earn better salaries.

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