Wednesday, May 11, 2016

Substantial Decline In Minimum Wage And Involuntary Part Time Jobs Since 2010: Most Of The Increase In Minimum Wage And Involuntary Part Time Jobs Occurred During The Recession in 2008 And 2009

From The Wall Street Journal, Real Time Economics, "Just How Good (or Bad) Are All the Jobs Added to the Economy Since the Recession? We take a closer look at employment and wage data to see the makeup of newly created jobs" by Lam Thuy Vo and Josh Zumbrun:
Overall, the data also show that more people work minimum wage or involuntarily part time than prior to the recession. But most of this increase occurred during the recession in 2008 and 2009.

The number of minimum wage and part time workers has declined over the past five years. There are currently about 2.6 million workers earning the minimum wage. That’s up from 1.7 million in 2007, but down substantially from 4.4 million in 2010. There are currently about six million people who work part time but want full-time hours. That’s up from about four million in 2007, but down substantially from nine million in 2009 and 2010.

No comments:

Post a Comment