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Click to enlarge.
As seen in the chart above, retail trade, leisure, and hospitality production and nonsupervisory employment has been growing faster than employment overall. This is clearly not a recent development.
Click to enlarge.
Not only do these jobs not pay well, but in inflation adjusted terms they pay roughly one-third less than they did in the early 1970s.
The future's so bright I gotta wear lampshades.
Source Data:
BLS: Employment
St. Louis Fed: CPI
4 comments:
Very interesting.
And very sad.
JzB
Jazzbumpa,
Sad indeed. :(
The American workforce has to compete with the workforces elsewhere (e.g. China) while being impeded by a growing Sargasso Sea of regulation.
dearieme,
But... but... the future's so bright!
Sigh.
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