Where The (Low-Paying) Jobs Were Are

Tyler Durden's picture

The time has come to look at the quality component of the 175K jobs added in May, so without further ado, let's drill down at where the growth was. Without much surprise, we find that as in months past, the bulk of the job growth continues to be concentrated in the lowest wage jobs:

  • Leisure and Hospitality added the most jobs in May, 43K
  • Retail Trade jobs rose by 28K
  • Education and health added another 26K
  • Temp jobs: the lowest of all paying jobs added another 26K

In summary - of the 175K jobs, 122K was to low wage occupations.

How about higher paying jobs?  Professional and Business Services (ex. Temp) rose by 31K in May, less than the 34K in April, Financial Activities posted a tiny 4K increase compared to 9K in April, Wholesale Trade was up a whopping 8K (compared to 4K in April), and finally Manufacturing jobs declined for the second consecutive month in a row, dropping first 9K in April and now 8K in May.