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Some of the Fast-Growing Jobs Don't Pay Much
Low-wage jobs employ close to half of the U.S. workforce (42%), and they're poised to employ millions more Americans over the next several years. As calls for a higher minimum wage grow louder from workers in the fast food and retail industries, it's worth looking at exactly who these people are, how many of them there are and how much they make.
The National Employment Law Project, a wage-advocacy group, released a report this month called "The Growing Movement for $15," in which it analyzes the effects of low wages on those who earn them. Some of the largest occupations with workers earning a median wage of $15 an hour or less, six of the fields are among those projected to see the greatest growth by 2022, according to 2012 data from the Bureau of Labor Statistics, the most recent available.
Personal Care Aides
Number of people employed in 2012: 1.19 million
Projected occupation growth from 2012 to 2022: 580,800 jobs (up 48.8%)
Median hourly wage (2014 National Employment Law Profect estimate): $10.35
Share of workers making less than $15 an hour (2014 NELP estimate): 77.9%
Nursing Assistants
Number of people employed in 2012: 1.48 million
Projected occupation growth from 2012 to 2022: 312,200 jobs (up 21.1%)
Median hourly wage: $12
Share of workers making less than $15 an hour: 72%
Janitors & Cleaners, Except Maids & Housekeepers
Number of people employed in 2012: 2.32 million
Projected occupation growth from 2012 to 2022: 280,000 jobs (up 12.1%)
Median hourly wage: $10.80
Share of workers making less than $15 an hour: 75.2%
Materials — Shipping, Movers & Packers
Number of people employed in 2012: 2.20 million:
Projected occupation growth from 2012 to 2022: 241,900 jobs (up 11%)
Median hourly wage: $14
Share of workers making less than $15 an hour: 54.9%
Combined Food Preparation & Serving Workers, Including Fast Food
Number of people employed in 2012: 2.97 million
Projected occupation growth from 2012 to 2022: 421,900 jobs (up 14.2%)
Median hourly wage: $9
Share of workers making less than $15 an hour: 88.3%
Retail Salespeople
Number of people employed in 2012: 4.45 million
Projected occupation growth from 2012 to 2022: 434,700 jobs (up 9.8%)
Median hourly wage: $12.65
Share of workers making less than $15 an hour: 58.1%
While income has no direct bearing on a consumer's credit standing, a low wage can make it difficult for people to pay bills on time, keeping their credit reports free of collection accounts or other negatives, like high credit card balances or delinquent loans. For consumers already in debt, managing day-to-day expenses in addition to paying down outstanding balances can be even more challenging, leaving those consumers with poor credit for years. No matter how much you make, it's important to carefully budget for expenses and make a plan in order to build or rebuild your credit standing and reap the benefits that come with it — of course, that's easier said than done, particularly for low-income consumers. (You can see how your debts and your payment history affect your credit by getting your credit scores, which you can do for free on Credit.com.)
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