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Follow on Google News | In Wages, April Data Aids Solid Start to 2015Free site: www.economyandmarkets.com Paid products: www.dentresearch.com
By: Dent Research However, Dent Research does more than just regurgitate the number of jobs added or lost each month. We add a quality factor by tracking the wages of the jobs added. Then we issue a final thumbs up or down, depending on where the majority of the job additions fell in relation to the measured median wage. The unemployment rate remained flat at 5.4%, the lowest level in almost seven years. More importantly, the economy added more jobs above the measured median wage than below. April was the third month of the year in which the job market met our metric. Despite the strong numbers, we must note the troubling trend of adding jobs at the lowest rungs of the economic wage ladder. April saw over 43% of all hires fall in three of the lowest paying wage groups. The good news is that these additions were offset by hires in high-paying industries. Dent Research co-founder and index creator Rodney Johnson commented on the latest employment numbers. “It’s great to see job creation tilted toward high-paying positions so far in 2015. We’re still cautious on the prospects for the overall economy, but this is definitely good news,” Johnson said. Each month we produce a detailed chart depicting where the job additions fall along the wage scale. You can see the full results showing that the balance of jobs were created above the median wage below: See larger image (https://dentresearch.s3.amazonaws.com/ The grey columns are our anchors. They represent the share of all the jobs held in the economy by the wages paid. Using the last column on the far right as an example, just over 9% of all jobs in the economy pay an average of between $38.35 and $48.06. The red columns show the monthly change. Again using the last column as an example, over 11% of April’s gains fell into the same wage bucket. The economy added more people in high-paying jobs in the economy, lifting wages overall. The Dent Research Employment Index digs beneath the BLS’ headline numbers to measure the quality of jobs added each month. It provides a more complete picture of the job market by tracking where jobs are being created along the wage scale. For a more detailed explanation of our methodology, please click here (http://www.dentresearch.com/ End
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