Monday, August 09, 2004
How can we make sense of the conflicting labor market data? I think all the data basically confirms what we feel: what little jobs are out there are the ones that no one want.
60% of job growth has been in professional and business services. But:
we disaggregate the PBS sector, almost
three-fourths of its employment gains
are in administrative and support services,
where average hourly earnings run
17% below the national norm.