Thursday, March 12, 2015

Shifting middle class job market puts women in the driver's seat


The shifting job market for the middle class was the focus of a terrific series recently published by the New York Times, an effort that included numerous graphs and charts that showed Middle America -- from an economic standpoint -- is not only shrinking for many, but the paychecks are also coming from and to new types of industries and workers.

The types of jobs that pay middle-class wages — between $40,000 and $80,000 in 2014 dollars — have shifted since 1980. Fewer of these positions are in male-dominated production occupations, while a greater share are in workplaces more open to women, the Times reported.
At the same time, manufacturing jobs that have long been dominated by men -- and did not require a college degree -- have declined precipitously.

Here are some of the highlights from the Times that indicate the economic tide is turning in favor of women seeking good-paying middle class professions:
* Registered nurses and other speciality occupations accounted for the largest share of growth in the middle-class wage range. In 1980, 19 of every 1,000 middle-class jobs were held by registered nurses. Today, the rate is 39 per 1,000.
* In 1980, 1.4 million jobs in health care paid a middle-class wage (again, $40,000 to $80,000 a year in today’s money). Now, the figure is 4.5 million. The pay of registered nurses — now the third-largest middle-income occupation and one that continues to be overwhelmingly female — has risen strongly along with the increasing demands of the job. The median salary of $61,000 a year in 2012 was 55 percent greater, adjusted for inflation, than it was three decades earlier.
* Economists at the Labor Department project that by 2022, as baby boomers age, health care and social assistance will absorb nearly 20 percent of consumer spending, double the share of manufactured goods. The sector is expected to support over 21 million jobs, five million more than today. This includes half a million more registered nurses.
* For all the troubles associated with traditionally male jobs, women have not had an easy ride through the economic turmoil, either.
“The occupational structure has not somehow become more women-friendly,” David Autor, an economist at M.I.T. who has studied the changing American job market, told the Times. In fact, he added, “the hollowing out of middle-skill jobs was larger for women than for men.”The process intensified sharply during the financial crisis and the ensuing economic downturn.
But in general women have reacted much better, climbing the educational ladder to capture more of the better jobs. Today, 38 percent of women in their late 20s and early 30s have a college degree, compared with 15 percent 40 years ago. The completion rate for young men is now 7 percentage points lower than for women — back then it was 7 points higher.

Beyond nursing and other health care-related fields, female-friendly professions that are on the rise include legal assistants, accountants and financial managers, HR specialists and insurance adjusters.
These two charts that shows the fastest growing and shrinking middle class occupations. Those occupations on the downside are all dominated by male workers.

Jobs per 1,000 middle-class jobs
Top 20 occupations that gained share
19802012Change
Registered nurses1939+20
Mathematical and computer scientists625+19
Supervisors and proprietors of sales jobs1834+16
Adjusters and investigators622+15
Managers and administrators7084+14
Health technologists and technicians821+13
Other teachers and counselors719+12
Elementary school teachers4151+9
Health therapists311+8
Accountants and auditors1523+8
Health assistants411+7
Writers, artists, entertainers and athletes1118+7
Legal assistants and aides16+6
Personal service occupations38+5
Police and detectives1418+4
Management analysts16+4
Financial managers610+4
Food preparation and service occupations610+4
Financial specialists59+3
Personnel and human resources specialists79+3



Jobs per 1,000 middle-class jobs
Top 20 occupations that
lost share
19802012Change
Machine operators and tenders, except precision5118-33
Production supervisors or foremen3311-23
Construction trades, except electricians3824-15
Freight, stock and material handlers2511-14
Assemblers of electrical equipment156-9
Precision metal working occupations156-9
Vehicle and mobile equipment mechanics and repairers3122-9
Truck, delivery and tractor drivers3931-8
Transporation occupations147-8
Material recording, scheduling and distributing clerks2316-7
Graders and sorters in manufacturing136-7
Welders and metal cutters115-6
Engineering and related technologists and technicians1710-6
Sales representatives, commodities4338-5
Engineers2015-5
Mail and message distributing occupations1510-5
High school teachers1712-5
Printing machine operators62-4
Precision workers, except metal107-3
Janitors and other commercial building services1411-3

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