Improvement in job growth extends to better paying industries

Improvement in job growth extends to better paying industries.

The positive economic recovery in the U.S. is now extending into higher wage industries. Job growth in industries such as business-services and manufacturing surpassed the number of jobs created in lower wage industries in July, according to USA Today.

These trends have been similar in recent months, according to the source. For example, middle and higher wage paying industries added 40,000 jobs more than lower paying industries. This occurred in June and July. 

Typically lower wage jobs are more likely to be filled when the economy begins to recover post-recession, the source noted. However, higher wage jobs usually begin to be filled more frequently as companies regain the means of expanding and improving their business.

"There has been a clear improvement in the U.S. labor market in recent months," said Richard Hoey, a BNY Mellon chief economist, according to Market Watch."We expect mid-2015 to represent the transition from five years of U.S. economic growth slightly above 2% to three years of three percent growth in a 'three-for-three' pattern.  The expected acceleration does not reflect major new sources of strength but rather the fading of several drags, including the fiscal tightening and private sector deleveraging. Thus we continue to expect an 'eight-year economic expansion' (2009 to 2017) in the U.S." 

Manufacturing recruiters are looking to exploit these trends, capitalizing on an improving economy. 

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