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Joblessness

The great recession crushed businesses across every sector and every region, and it has been a slow climb out of the rubble with vestiges of the downturn still impacting business and the economy.

By Anthony LoPinto | Updated on August 18, 2015

The great recession crushed businesses across every sector and every region, and it has been a slow climb out of the rubble with vestiges of the downturn still impacting business and the economy. One of the most notable changes we have observed is a trend toward more measured, and tentative hiring patterns in an effort to keep compensation costs in check. However, one of the more telling effects was reported this morning in the Wall Street Journal.

According to a study released Monday by Georgetown University’s Center on Education and the Workforce, the US economy now has approximately one million more jobs in occupations that rank in the top third of income and 800,000 more in the bottom third. The middle third however, has yet to recover the jobs lost during the recession. This is strong evidence that mid-level jobs are dwindling while higher level jobs, going primarily to college graduates, are growing robustly.

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