WASHINGTON, DC—There has been much satisfaction in the steady increase in the US employment rate. In July the US economy added 209,000 jobs, continuing a trend that has been building for many months.
This is not to say there is no reason for concern; long-term unemployment remains a seemingly intractable problem and underemployment seems to be particularly high in a number of states. The national underemployment average is 13.4% but in such states as Nevada and California it is 17.4% and 16.7%, respectively, according to an analysis by 24/7 Wall Street.
A new report by the United States Conference of Mayors now points out another weakness in the job creation story: the jobs that have come back are paying 23% less than the ones lost in the recession.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.