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Noted for Your Lunchtime Procrastination for November 27, 2014

Morning Must-Read: Mark Thoma: Good News for the Unemployed

Mark Thoma: Some good job news for a hard-hit group : "The 'hollowing out' of America's middle-class jobs...

...in recent years is a trend that started before the Great Recession.... But where do those who have lost their jobs go?.... Many people believe most of those who lose middle-class jobs end up worse off than before, but recent research by economic policy analyst Ellie Terry and economist John Robertson of the Federal Reserve Bank of Atlanta finds... 'of those in middle-skill occupations who remain in a full-time job, about 83 percent are still working in a middle-skill job one year later.... What types of jobs are the other 17 percent getting? Mostly high-skill jobs; and that transition rate has been rising. The percent going from a middle-skill job to a high-skill job is close to 13 percent: up about 1 percent relative to before the recession. The percent transitioning into low-skill positions is lower: about 3.4 percent, up about 0.3 percentage point compared to before the recession.'... We still have plenty to fret about over employment across all skill levels, especially middle-skill jobs. But it could be even worse...

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