Hiring Is Up, But Most Jobs Added Are Low-Paying
Thursday, July 03, 2014
New numbers out today from the Labor Department show the U.S. added 288,000 jobs in June. It’s the fifth month in a row in which hiring has gone up by over 200,000 — the best hiring streak since the late ’90s, back when Bill Clinton was president.
Long-term unemployment also fell over the last year, with 1.2 million long-term unemployed finding jobs. But there are still over 3 million people who have been unemployed long term, and the number of Americans working or looking for work remains at 30-year lows.
Wages have barely increased as employment grows, and the new jobs in this report are heavily in low-paying sectors like retail.
Here & Now’s Jeremy Hobson talks to Bloomberg correspondent Bob Moon about what this means for the U.S., as well as what we can expect in coming months.
- Bob Moon, correspondent for Bloomberg.