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Where the Wages Are

Posted By Don Boudreaux On October 12, 2009 @ 5:40 pm In Data,Myths and Fallacies,Work | Comments Disabled

The comment below, from John Dewey on this post [1], deserves to be highlighted as a post of its own:

Harold Meyerson assertion about wages:

meyerson: “the vast majority of new jobs in recent decades has come in the service and retail sectors, which tend not to be as productive and don’t pay as well.”

… is wrong.

The truth? In most service sectors, wages exceed those of the manufacturing sector:

sector …………………………..median wage

information (incl telecom)………$23.10
government………………….….$20.86
educational services…………….$19.85
finance and insurance…………..$19.63
transportation/warehousing…….$18.39
construction…………………….$18.38
wholesale trade…………………$17.72
manufacturing…………………..$16.62
health care and social service…$15.65
retail trade………………………..$10.55
accomodation/food services…….$8.62

Source: BLS 2008 National Industry Survey

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