Starting over: Job polarization tugs economy

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The Connecticut Labor Department reported Monday the state’s middle-wage jobs have borne the brunt of job losses during the last few years.

While higher income jobs, those earning more than $3,333 a month, saw their share of all wages rise to 49 percent from 39 percent between 2002 to 2010, the take of income for middle income jobs fell.
According to the report, jobs paying $1,251 to $3,333 a month account for 29 percent of wages, down from 35 percent.
Overall employment for all wage brackets was down for the period.

The implications of this reach into the larger economy, where consumer spending could remain weak, but it also leaves households facing the task of starting over as people in the middle fall into the entry level job pool. It’s also left businesses facing a potential leadership vacuum.

With less experienced mid level workers to chose from, businesses will have to rely on less experienced workers for future leadership. That is of course assuming,those in supervisory positions actually retire.

What the Labor Department found is that, like numerous reports here in the Mines and in other outlets have shown, the job market appears to be in a tug-of-war between the highest paying jobs and the lowest paying ones, and ultimately ripping the middle apart.

Categories: Economy
Rob Varnon

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