In a new research note on inequality, Morgan Stanley economist Ellen Zentner included this fascinating chart showing that, among OECD countries, the United States has the highest proportion of low-paying jobs.
The 2014 version of the OECD Employment Outlook report cited by Morgan Stanley defines low-paying jobs as those for which earnings are below 2/3 of a country’s median income. According to the OECD analysis and the Morgan Stanley report, just over a quarter of jobs in the US fell in this low-paying category.
In 2013, the median annual income in the US was $US35,080, according to the Bureau of Labour Statistics’ Occupational Employment Statistics program. Under the OECD’s definition, then, a low-paying job would earn less than about $US23,390.
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