Where The (Low-Paying) Jobs Were In June

Tyler Durden's picture

While we already showed that according to the Household survey the quality component of the June jobs report was absolutely abysmal, with part-time jobs representing more than all jobs added in June, we find that according to the Establishment survey things were no better. In fact, as we show month after month, the bulk of the jobs additions were concentrated in the lowest paying industries.

To wit:

  • Leisure and Hospitality - one of the lowest wage categories - added the most jobs in June, 75K, or nearly 40% of all jobs added
  • Retail Trade jobs - another ultra-low wage category - rose by another 37K, or 20% of the total
  • Education, health and temp jobs - no millionaires here either - added another 23K, accounting for yet another 12%.

In short: 70% of all job additions, or 135K of 195K, in June were for the lowest paying jobs. As for David Tepper's US manufacturing "renaissance": Down 7K in May and down another 7K in June.