BIS central bankers’ speeches  1  However, these occupations have accounted for less than one-quarter of subsequent job gains. The declines in lower-wage occupations – such as retail sales and food service – accounted for about one-fifth of job loss, but a bit more than one-half of subsequent job gains.
Indeed, recent job gains have been largely concentrated in lower-wage occupations such as retail sales, food preparation, manual labor, home health care, and customer service.3 Furthermore, wage growth has remained more muted than is typical during an economic recovery. To some extent, the rebound is being driven by the low-paying nature of the jobs that have been created.