Minimum Wage Jobs Flourish in USA
Competition is extremely tight for jobs in the United States, but these
positions are not high-paid professional jobs -- they are service
sector jobs with a nationwide average pay of less than $10 per hour.
Before you pack your bags and board a plane to the United States,
consider that even at $10 per hour, taxes reduce the hourly wage to at
least $7 per hour if not less. In New York City the absolute minimum
hourly rate to qualify for a "room" is three times the amount or $21
per hour (based upon a 40-hour work week.)
With more minimum-wage jobs available than candidates it becomes
increasingly difficult for employers to retain talent especially for
part-time and hourly roles reported Planned Administrators Inc.
Marketing director Susan Nicolai said as increases in minimum wage jobs
becomes a reality -- business experts are looking at other sources in
2007 to attract and retain employees – one option being limited benefit
health insurance for hourly and part-time employees. Most employers in
the United States do not offer benefits for non-salaried workers.
Nicolai suggested employers use EssentialCare, which is underwritten by
BCS and administered by Planned Administrators, as a way to attract and
retain minimum wage paid employees.
Online job behemoth Monster.com reported too that during January 2007
minimum wage jobs postings rose dramatically, but so did triple-digit
salaried employee positions for investment banking. Monster's
employment index rose 17 points from January 2005 to 168 after having
fallen in December 2006 from a peak of 175 in November.
Monthly payroll growth during 2007 is expected to average 130,000 jobs
per month compared with an average of more than 150,000 per month
during 2006, according to said Steve Pogorzelski, group president at
January's increase in job postings showed a sharp contrasts between
what types of jobs are now on offer in the United States. Dramatic
increases went to transportation (drivers,) warehousing (stock and
inventory jobs,) and utilities. Monster reported a sharp increase
in company management roles, reflecting high demand for labor
among "holding companies" operating on Wall Street. Qualifications for
the higher-end jobs (at a minimum) would include an MBA, several years
of financial analysis and management experience specific to the market
and salaries would meet or exceed $250,000 per year plus annual bonus
of at least as much.
Transportation and warehousing rose 11 points, demonstrating high
demand for workers due to a booming importing trend in the United
States (imports continue to exceed exports as consumer demand drives
the need for cheaper products from over seas.)
In contrast, finance and insurance jobs fell seven points, decreasing
for the third consecutive month and now down on a year-over-year basis
for the first time on record Monster reported. The decline in January
suggested that financial executives are continuing to hire in the first
quarter of 2007, but at a slightly slower pace than during the fourth
quarter of 2006.
Online demand for workers in mining also declined in January, falling
five points. Legal occupations were the only other professional
job (well-paid career) category Monster reported had increased for the
Food preparation and serving jobs (minimum wage) rose 5 points during
January. Other minimum wage jobs or those that pay less than $15 per
hour grew for categories of arts, design, entertainment, and sports
media positions (these positions were behind the scenes roles such as
office boy and secretary.)
Mainstay jobs for the trade professional significantly fell in January
including jobs in construction and extraction; production; and
transportation and material moving. Continued weakness in
manufacturing, particularly in the automotive industry, added to the
trend of job loss for mid-tier salaried and union-protected jobs.
Buildings and grounds cleaning and maintenance and installation,
maintenance, and repair also noted a decline in postings.
Social services jobs grew 30 percent year over year, these jobs are
mostly state, federal, and private not-for-profit positions with
starting salaries in the mid-$20,000s and cover child and elder care
and family services. Online job availability for highly-skilled life,
physical, and social science occupations rose 16 percent for the year
2006, driven by heightened demand for college professors, as well as
researchers and scientists all of which require advanced college
education and an extensive science research background.
As of press-time (3 February 2007) the Vault, an online professional
services website, unveiled a video resume (CV) contest to boost chances
for highly paid financial candidates to further their careers. Wall
Street employees were encouraged to write, produce, and direct their
online video and submit by 8 February. Vault editors plan to choose the
five most impressive submissions and recommend those winners to its
network of hiring professionals at top investment banks. Salaries of
these positions begin in the $250,000 range with bonuses two to three
times the annual salary .
Vault expects to run similar contests for applicants in other fields,
such as consulting, accounting, law, fashion, and advertising.
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