In his report covering August’s employment trends, economist Bruce Steinberg also tackles the issue of surprisingly low wage inflation in certain sectors with low unemployment. It turns out that there’s been a swell in the prime-age labor force, driven particularly by prime-age women and especially women without a college degree. The gender wage gap then intersects with labor force issues:
The reason for the boom in employment for the less-educated is fairly easy to explain. Those jobs are usually the first to be eliminated during a recession and the last to be created as the economy improves. And here is where the analysis from others gets really interesting…
Those lower-skilled jobs tend to be concentrated in service industries that some believe do not attract men. Of course, plenty of men work in low-skill jobs. But the situation is more than men not willing to work in certain jobs as The Economist magazine reports that researchers point out “there is a correlation between the number of women an industry employs, as a percentage of its workforce, and how many non-managerial jobs it has recently created.”
The monthly report also examines employment trends across all sectors. Share these stats with your team to inform your strategic planning.