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Low Wage Workers Across Country Are Not Hopeful About Future

Ed Lynch Thursday, March 21, 2013

There are many people today who are not all that pleased with the way that their economic future looks. Many people who have been unemployed for an extended period of time are not only frustrated with it, but only have low paying jobs to look forward to. And, even if they do find a job for now, the upcoming rise in minimum wage may mean that they will lose it shortly after.

If you look at the numbers, things look pretty good. These low earning jobs are the fastest rising job sector in the country. But, those people who hold those jobs are not bragging. As a workforce sector, those earning $35,000 or less annually are generally pessimistic about their finances and career prospects. Many see themselves as worse off now than during the recession, a two-part Associated Press-NORC Center for Public Affairs Research survey of workers and employers shows.

Not only are they not happy with these jobs, but they are not looking forward to longevity in these positions. The survey revealed that many people at the lowest rung in the workplace view their jobs as a dead end. Half were “not too” or “not at all” confident that their jobs would help them achieve long-term career goals. And only 41 percent of workers at the same place for more than a decade reported ever receiving a promotion.

Roughly 65 percent of the jobs the U.S. economy added since the recession officially ended in June 2009 have been lower-wage ones. Despite the new jobl gains, “lower-income households have been hit very hard and have not benefited as much from the recovery,” said Mark Zandi, chief economist at Moody’s Analytics. “Their real wages are going nowhere. And this is a group that has more debt, fewer assets, is less likely to own a home or stocks and with little capacity to absorb higher gasoline prices.”

Seventy-four percent of lower-wage workers say it is “difficult” or “very difficult” for them and their families to get ahead financially. Half thought their financial situation was somewhat or much worse than in 2008.

Hopefully things will begin to look up during the summer months, but there is no doubt that the cloud that is hanging over the jobs environment is tough to see through.

Edwardl@longislandyellowpages.com

Appears In: Jobs & Careers

Ed Lynch

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Edward Lynch is a writer for the Long Island Yellow Pages Jobs & Careers section. If you have a press release that you'd like to share please send it to edwardl@longislandyellowpages.com

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