Some interesting data on the U.S. labor market from the BLS.
The charts illustrate that office and administrative support is the largest occupational group in the United States, totaling 17 percent of employment. Sales and related occupations were second and made up 11 percent of employment.
Occupational groups with below average wages are more than two thirds of private sector employment versus less than one third of public sector employment. Education, training, and library totaled 30 percent of public sector employment, but only 2 percent of private sector employment.
Don’t you think it’s time for some structural adjustment policies to improve the occupational footprint of the U.S. labor market? Creating bubbles to make secretaries feel rich through manipulating interest rates, the stock market, and easy credit has run its course, which we are now paying a hefty price. Beating swords into plowshares and training retail clerks to learn and run higher tech manufacturing is a start. Click on charts to enlarge and for better resolution.
(click here if charts are not observable)