Despite Stable Recovery, Wages Have Yet to Budge

The U.S. labor market faces long-term quality and quantity problems

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idea light bulbNew data from the Bureau of Labor Statistics, or BLS, today added to the evidence that the U.S. economy continues uninterrupted along a path of recovery, albeit a moderate path. U.S. employers add 209,000 new jobs in July, and the unemployment rate was basically unchanged at 6.2 percent. Revisions to older data showed the U.S. economy averaging job growth of 245,000 jobs per month for the past three months.

But today’s report also indicates both how far the recovery still has to go and the particular challenges posed by a job market creating a preponderance of low-paying, low-quality jobs. Both the quality and quantity of new jobs being created in the economy are weighing on inclusivity of the growth that is taking place.

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