Here are some facts about Main Street American Jobs and Earnings:
In April 2014, the Bureau of Labor Statistics released an Occupational Employment and Wages Summary. According to the BLS Summary, 20% Americans work in just 10 occupations. Two of them, retail sales people and cashiers, together represent over 33% of this number, or 7.8 million American workers.
These occupations are:
Retail salespersons: 4.48 million workers earning $25,370
Cashiers: 3.34 million workers earning $20,420
Food prep & serving staff: 3.02 million workers earning $18,880
General office clerk: 2.83 million working earning $29,990
Registered nurses: 2.66 million workers earning $68,910
Waiters & waitresses: 2.40 million workers earning $20,880
Customer service representatives: 2.39 million workers earning $33,370
Laborers, & freight and material movers: 2.28 million workers earning $26,690
Secretaries and admins (not legal or medical): 2.16 million workers earning $34,000
Janitors and cleaners (not maids): 2.10 million workers earning, $25,140
According to the Social Security Administration, in 2012, the median wage of American workers is $27,519.10 per year. In 2012, Social Security also reported that 59% of all American workers earn less than $35,000 per year.
To clarify, half of all American workers earn less than $28,000 per year and 18% of those who earn above that earn less than $35,000 per year. The top two most prevalent occupations in the United States, Retail Sales and Cashiers, on average, earn less than $25,370 per year. Simple math tells us that $28,000 a year is $13.44 an hour, at 173.5 hours per month of full time employment.
According to National Public Radio there are 1.3 million less American jobs than there were in December 2007, when the recession began. American construction jobs have dropped by 1.6 million and American manufacturing jobs have dropped by 1.7 million.
How are the “Job Creators” doing?
According to the Economic Policy Institute:
… From 1978 to 2012, CEO compensation measured with options realized increased about 875 percent, a rise more than double stock market growth… … the average CEO compensation was $14.1 million in 2012.
Think about this: In 2012, CEOs earned over $1 million a month.
Are Businesses Profiting?
According to the Wall Street Journal:
Big U.S. companies have emerged from the deepest recession since World War II more productive, more profitable, flush with cash…
At McDonald’s, international revenue rose 24% since 2009, three times as fast as in the U.S. At Starbucks, international revenue jumped 35% the past two years, more than double the 14% increase in the U.S.
What are the facts regarding American Unemployment?
The Bureau of Labor Statistics places American Unemployment at around 7%. However, if it was still measured by their broadest unemployment measure, including short-term discouraged and other marginally-attached workers as well as those forced to work part-time because they cannot find full-time employment, this number is closer to 12%.
However, John Williams from Shadowstats.com measures American unemployment at closer to 23%. While 23% appears extremely high, it has some support from the U.S. Bureau of Labor Statistics April 25, 2014 press release, stating in pertinent part::
Of the nation’s 80.4 million families, 80.0 percent had at least one employed member in 2013.
To state this another way: 20%, or 1 in 5 of American family households had no job. So compared to the Bureau of Labor Statistics household unemployment numbers, John Williams is only off by 3%.
This 1 in 5 number is almost the same number of Americans living in poverty that I discovered while researching a my previous article.
After the recession United States lost over 1 million construction and manufacturing jobs. In terms of total jobs, the United States today has 1.3 million fewer jobs than it did prior to 2007. Now, half of all American workers earn $13.44 an hour or less. 20% of all American households cannot find work.
Yet, CEOs are paid an average of over $1 million a month and Big Businesses are flush with cash.
If CEOs and Big Business were actually interested in creating livable wage careers in the United States, they have the money to do it and it would’ve happened. Further, American workers wouldn’t be earning so little in dead-end jobs. The next time someone tries to convince you that CEOs and Big Business are job creators, you can demonstrate the majority of the top 10 jobs in the United States are low-paying, dead-end, service industry jobs that are not valid careers.