Newspaper article International New York Times

Fed Reports Mid-Income Jobs Rebound

Newspaper article International New York Times

Fed Reports Mid-Income Jobs Rebound

Article excerpt

A Federal Reserve Bank of New York analysis suggests this may signal a turnabout in a long but lackluster economic recovery.

The American economy is finally creating more middle-income jobs, according to a new analysis by the Federal Reserve Bank of New York, in a turnabout from the feast-and-famine pattern earlier in the recovery, when hiring was strongest at the bottom and top of the wage scale.

The findings, released on Thursday, suggest that it may soon be time to retire a familiar criticism of the long but lackluster economic rebound that has been underway since the end of the Great Recession in 2009: the hollowing out of the American middle class.

Between 2013 and 2015, employers added nearly 2.3 million workers earning $30,000 to $60,000 a year, primarily in fields like education, construction, transportation and social services. That was roughly 50 percent more than in either the high-wage or low- wage categories during the same period.

By contrast, the researchers found, of the nearly 7. …

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