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Employment growth in higher-paying sectors
- Article from:
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Chicago Fed Letter
- Article date:
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September 1, 2004
- Author:
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Copyright informationCopyright Federal Reserve Bank of Chicago Sep 2004. Provided by ProQuest LLC. (Hide copyright information)
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Since the beginning of the year, roughly 1.25 million jobs have been added to payrolls, consistently outpacing population growth for the first time in four years. With the jobless recovery apparently complete, it is natural to examine next the type of jobs being created.
This Chicago Fed Letter presents several summary measures that gauge the extent to which employment, is growing in higher-paying sectors of the economy and, importantly, how this compares with recent history.
We find that the share of job growth in higher-paying sectors typically respends favorably to overall employment growth and, conversely, falls when labor markets weaken. Recent history falls squarely in this pattern. ...