April 24, 2013
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In the first two years of “recovery” from the Great Recession, the top one percent of households captured
121 percent of the economy's gains, according to economist Emanuel Saez, leaving the rest of us poorer than we were when the reversal began. Wall Street pay has
more than bounced back, with average pay higher today than it was before the crash.
The top 25 hedge fund managers continue to take in close to a billion dollars per year each, on average. As Les Leopold
noted,
it would take a middle-class family 47 years to bring in what they make
in just one hour. What value do they add to our society? Well, when
they're not wrecking the global economy, they're
pricing people out of the housing market and
ripping off small investors.
As
for the rest of us, the reality is that a disproportionate share of the
jobs being created in America since the crash are low-income McJobs.
According to a study by the National Law Employment Project, low-income
jobs represented 21 percent of the total lost in the crash, but 58
percent of those added during the recovery (
PDF).
In contrast, 60 percent of the jobs lost in the downturn paid a
middle-class wage, but they've only made up 22 percent of those added
during the recovery.
One of the problems one finds talking about
the proliferation of crappy, low-wage jobs is that many people have a
mental image of teenagers flipping burgers at a fast-food joint. But
those minimum-wage service jobs aren't the only ones that pay a
pittance. You might be surprised at some of the professions where people
make around $25,000 per year. Many require relatively scarce skills;
others provide real value for our society.
1. Regional Airline Pilots
Senior
pilots working for major international carriers earn a pretty good
living. But flying for regional carriers – which employ about 13 percent
of all pilots – means not only having to worry about weather and
navigation, but also how you'll pay your bills at the end of the month.
According to the
Houston Chronicle,
starting salaries for pilots at regional airlines start at as low as
$16,500. The average starting salary is about $20,000, and with years of
experience, these pilots can pull their way up to a maximum wage of
around $60,000.
Not only are passengers' lives in their hands, but
piloting a commercial jet requires hours of training, extensive
licensing, and in most cases, a four-year college degree.
2. Adjunct Professors
This
profession is similarly tiered; tenured professors at private
universities make a handsome salary of around $135,000 per year, on
average. But an increasing number of courses are being taught by
part-time adjunct professors – they now teach 75 percent of all classes,
according to
Inside Higher Education
– and many of them are barely scraping by. According to the Chronicle
of Higher Education, adjunct report being paid an average of $2,987 per
3-credit course. But at some community colleges, that figure is as low
as $1,100; the average pay at rural two-year colleges is $1,808, or
around $22,000 per year. As part-timers, they rarely receive benefits
like health insurance.
3. Home Health/Psychiatric Aides
It's
long been the case that occupations that have traditionally been seen
as “women's work” tend not to pay well, and home health and psychiatric
aides are no exception. But consider how difficult this job is – if
you've ever cared for someone who is too elderly or handicapped to care
for themselves, you know it's no picnic. This is also a profession that
requires some trust – you don't want to leave grandpa with just anyone.
And yet, this fast-growing field pays an average of just $10.49 per hour, or $21,830 per year, according to BLS.
4. Ambulance Drivers and Attendants
They're
first responders, with lives in their hands, and they make just $11.97
per hour, on average, according to BLS. One would think you wouldn't
want the ambulance rushing you to the hospital to be driven by someone
who has to work a second job to make ends meet, but that's often the
case.
5. Veterinary Animal Caretakers
Sure,
Fido is part of your family. His vet is pretty well paid, but the
person who takes care of him when he disappears into the back of the
vet's office? She's getting an average of $24,740 per year.
6. Childcare Workers
According
to the shopworn cliché, our children are the future. And when we drop
them off for childcare, we expect them to be well cared for, safe and
un-molested. It's a lot to ask for an average of $10.25 an hour or
$21,310 per year.
7. Cosmetologists for Dead People
This
one pays a middle-class wage, although less than the median at $16.31
per hour, according to the Houston Chronicle. But it takes special
skills, and one would think you'd need to pay folks a decent wage to
deal with corpses all day. (The McJobs of the industry are funeral
attendants, who make $24,250 per year, on average.)
8. Gambling Dealers
It
seems like an exciting, high-paying job. And dealers at good casinos
make good money in tips (or “tokes,” in gaming parlance) if they're at
the right casino. But the best jobs are scarce, and those who don't see a
lot in tips aren't getting rich. According to the Bureau of Labor
Statistics, dealers make an average of $22,410 per year in salary.
9. Models
Top
fashion models like Naomi Campbell rake in millions. But most models
aren't international superstars. According to BLS, the average wage for a
model is just $12.55 per hour, or $26,110 per year.
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