It has been argued that the jobs recovery of the past six years has
been mostly low-wage jobs, but Deutsche Bank Chief International
Economist Torsten Sløk disproves this.
Since the financial crisis, the unemployment rate has fallen dramatically, and is now at 5.5%. The February employment report was the 12th straight month the economy added more than 200,000 jobs - the best since 1995.
Wage growth, however, hasn't been that strong. Thus, many considered that this has been a recovery in low-paying jobs, but Sløk is arguing against that.
"Let’s take a look at the data...since 2009, job growth for college graduates has for every single month outpaced job growth for people with less than a high school diploma. This is also consistent with the fact that the unemployment rate for college graduates is lower than the unemployment rate for individuals with less education."
And the chart below in the note outlines the same point, about high-wage occupations accounting for the bulk of job gains over the last several years.
