Study: Recovery For Burger-Flippers Only

According to new analysis of unemployment data by the National Employment Law Project, while 60 percent of the jobs lost during the 2008-2009 financial crisis were in middle income occupations, the vast majority – 58 percent – of jobs created under President Obama are low-wage. Those jobs include “retail sales, food preparation, home health and customer service.”

“The recovery continues to be skewed toward low-wage jobs, reinforcing the rise in inequality and America’s deficit of good jobs,” said the author of the study, Annette Bernhardt. “While there’s understandably a lot of focus on getting employment back to pre-recession levels, the quality of jobs is rapidly emerging as a second front in the struggling recovery.”

Just half of US adults are currently middle class.


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“Every Asian market outside Sri Lanka retreated after Federal Reserve Chairman Ben S. Bernanke yesterday said a premature withdrawal of quantitative easing would put the U.S. economic recovery at risk,” Jonathan Burgos reports. What does this say about the US and, in particular, the policies of the Federal Open Market Committee, which are pretty much identical?

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