In order to build wealth and create opportunities in and across America’s underserved communities, and reverse the troubling trends we’re seeing in our economy, we no longer find it defensible to focus on job creation alone. It’s clear that job creation does not itself equate to lasting economic change. And so, we must shift our focus to the creation of higher quality jobs — jobs that are good for workers and their families, good for businesses, and good for communities — enabling us to build an economy that works for everyone. Each month, we bring you the latest roundup of news from the fight for quality jobs for working people. The minimum wage has been in the news a lot this month – both for good and for ill. The minimum wage’s buying power is less today than it was in 1950 – and the millions of working families who … Read More
Public Policy and Investments in Good Quality Jobs
Despite years of economic growth and a declining unemployment rate, the economy – from the perspective of many Americans – is far from healthy. For decades, wages for everyone but the top quintile of earners have remained stagnant or declined, while Americans’ participation in the workforce is at its lowest level in nearly forty years. At Pacific Community Ventures, we believe that community development financial institutions (CDFIs) and the broader impact investing industry are ideally positioned to tackle this issue by supporting businesses that create high-quality jobs offering decent wages, benefits, career and wealth-building opportunities, and fair and engaging workplaces. Yet America’s jobs problem is too large and complex for individual businesses and investors to confront on their own. Without a concerted effort by government to improve job quality in partnership with businesses, investors, and the social sector, we cannot credibly expect to see changes in the economic trends that … Read More
An Economy For Everyone: April Good Jobs Recap
In order to build wealth and create opportunities in and across America’s underserved communities, and reverse the troubling trends we’re seeing in our economy, we no longer find it defensible to focus on job creation alone. It’s clear that job creation does not itself equate to lasting economic change. And so, we must shift our focus to the creation of higher quality jobs — jobs that are good for workers and their families, good for businesses, and good for communities — enabling us to build an economy that works for everyone. Each month, we bring you the latest roundup of news from the fight for quality jobs for working people. More Americans work in retail than in manufacturing or mining. Over the last two weeks you’ve probably read a lot about big job losses in the retail sector, from Sears and Macy’s to Kmart and Urban Outfitters. According to Slate … Read More
An Economy For Everyone: March Good Jobs Recap
In order to build wealth and create opportunities in and across America’s underserved communities, and reverse the troubling trends we’re seeing in our economy, we no longer find it defensible to focus on job creation alone. It’s clear that job creation does not itself equate to lasting economic change. And so, we must shift our focus to the creation of higher quality jobs — jobs that are good for workers and their families, good for businesses, and good for communities — enabling us to build an economy that works for everyone. Each month, we bring you the latest roundup of news from the fight for quality jobs for working people. What is the real state of working America? In 1900, factories and farms employed 60 percent of the work force. By 1950, a half-century later, those two sectors employed 36 percent. In 2014, they employed less than 10 percent. The … Read More
Defining and Measuring The Creation of Quality Jobs
Since the end of the Great Recession, almost 12 million jobs have been created — but most have been in low-wage occupations and at places like strip malls and fast-food restaurants. Average wages for working Americans have dropped 23 percent. It’s become clear that job creation does not equate to lasting economic change. In order to reverse the troubling trends we’re seeing, we no longer find it defensible to focus on job creation alone. We must shift our focus to the creation of higher quality jobs that are good for workers and their families, good for businesses, and good for communities. We are excited to share with you our latest discussion paper: Moving Beyond Job Creation: Defining and Measuring the Creation of Quality Jobs. Moving Beyond Job Creation has been made possible thanks to the support of the Surdna Foundation, and is the result of a year and a half of extensive research on the topic of … Read More
Small Businesses Can Drive A Quality-Jobs Economy
While our economy’s improved on paper, most of us know in our gut that’s not the whole story. During the last few years, quality job creation has been anemic, and way too many workers have jobs that don’t allow them to support themselves and their families. Since the end of the Great Recession, 11.3 million jobs have been created — but average wages have dropped 23 percent. The top five fastest-growing occupations have been in low-wage work, in personal care and at places like strip malls and fast-food restaurants. These are all jobs that also need some form of public assistance. We hit another tipping point as 2016 began: middle-income households have become the minority in America for the first time since World War II. And African-Americans and Latinos fare even worse. As our nation’s job creators, small businesses can be a part of the solution. According to the Federal … Read More