According to the Economic Policy Institute, almost
30% of American workers are expected to hold low-wage jobs – defined
as earnings at or below the poverty line to support a family of four –
in 2020. This number will remain virtually unchanged from 2010.
Given that roughly 50% of recent college grads are unemployed or
underemployed and those who do work are much more likely to hold these
types of jobs, this is a particular grim prospect for young workers
hoping to leave these positions behind for greener career pastures.
And
even if Millennial workers do manage to move from retail to the
corporate world, there’s no guarantee that their office job will be on
the career track. The
number of temporary or contract positions was up 6% over last year’s
numbers in the first quarter of 2012 according to the American Staffing
Association. In fact, the number of temporary or contract jobs
added to the economy has been increasing for nine consecutive quarters
since the recession officially ended. Over 40% more people hold temp jobs now than in 2009.
This growth starts to become something to worry about when temp jobs
aren’t being converted to permanent ones and when contract work replaces
full-time positions. As ASA CEO Richard Wahlquist put it when
discussing the numbers: “Employers remain hesitant to add permanent
employees due to uncertainty about the current strength of the economy
and future economic conditions, including impending tax increases and
spending cuts expected to take effect in January 2013. In times like
these, businesses are being much more strategic in sourcing additional
talent and maintaining work force flexibility.”
Read more: Careers Are Dead. Welcome To Your Low-Wage, Temp Work Future - Forbes
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