Jobs Added Post-Recession in U.S. Pay 23% Less, Report Says
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Jobs gained following the U.S. recession pay 23 percent less than those lost as a result of the 18-month slump that ended in June 2009, a report by the U.S. Conference of Mayors finds.
The average wage of the positions recovered through the second quarter of 2014 was $47,171 per year compared with $61,637 for those lost in 2008 through 2009, according to the report. The loss is almost twice as large as the one following the 2001 recession, according to the study prepared by IHS Global Insight, and represents $93 billion in foregone wages.