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The middle class truly is disappearing. As I’ve long said and as is argued more academically in this video, most of the job openings are in very low-wage jobs–janitorial, food service, home health aides, etc. $10 an hour is the new norm.
So don’t let the flat unemployment statistics suggest that the job market is stablizing. A person who previously worked for $75,000 a year may now well be working for $10 an hour yet will still be counted in the government statistics as “employed.”
I truly am worried and sad for those who are trying to earn a middle-class living in today’s America.
2013-01-29 03:54:45
Source: http://martynemko.blogspot.com/2013/01/where-are-jobs-at-bottom.html