Pay stagnant even as jobs increase NORTHAMPTON, Mass. (WWLP) – The October job numbers are out, and although it turns out that more jobs were created, pay is stagnant. Falling unemployment is doing very little to raise worker pay. Employers added 214,000 jobs in the month of October, bringing the unemployment rate down to 5.8 percent. In Tuesday’s election, most voters said the economy is their top concern. Voters want more access to more jobs, and good paying jobs at that. Northampton resident Matt Beisler told 22News that even if you do get a job, a low wage can feel like you’re virtually going backwards. He said, “If your wages are staying stagnant, which I think for a lot of people they are, your purchasing power doesn’t increase along with inflation, along with rising prices. So, even if you come back into a job, or you pick up more hours, it doesn’t feel like you’re moving forward.” The industries responsible for creating the most jobs in October were the restaurant, hotel and entertainment industries. Currently, the economy is growing at an annual rate of 4.1 percent. Many people 22News spoke to say they’re optimistic, and hope the economy continues to improve.
Posted on: Fri, 07 Nov 2014 21:34:01 +0000
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