JQI Index declines 0.20 percent in March
Washington. The monthly U.S. Jobs Quality Index(JQI) issued by the Coalition for a Prosperous America (CPA) and its partners dropped slightly to 79.27in March, down by 0.20 percent from its revised level one month earlier.
The JQ-Instant™ preliminary read of the 713,000 decrease in all private sector, non-farm payrolls in March 2020 shows that approximately 93.35% of the loss of such private sector jobs was in industry sectors offering P&NS jobs with an average weekly income below the mean weekly income of all P&NS jobs (i.e. “Low Quality Jobs”).
While the COVID-19 pandemic has already hurt employment prospects across the nation, the JQI tracks a broader, long-term decline in the U.S. workplace. As the JQI’s overall graph demonstrates, the United States is creating a wider swath of lower-wage/lower-hour jobs, rather than more desirable higher-wage/higher-hour positions.
Michael Stumo, CEO of the CPA, said, “The JQ Instant is the emerging jobs story from last month’s data. Over 93% of job losses so far have been in low wage/low hour jobs. The most easily discharged workers are suffering from the COVID recession first. Next month we will see how deeply job losses cut into the high quality job sectors.”
Read more about the U.S. Jobs Quality Index and the JQ Instant.