Middle class employment making a comeback

Construction of the new arena and downtown plaza in Sacramento is expected to create thousands of temporary construction jobs, and it's projects like these that are getting the unemployed and underemployed back to work.

Economists with JPMorgan Chase and Moody's told CNN the mix of jobs across the country is improving and they're starting to see middle class employment make a comeback. For the most part, those are jobs that pay about $770 a week, and include fields like manufacturing, sales, transportation, and construction.

According to Moody's, growth in mid-wage jobs has grown 1.5 percent this year. For the past two years that number was stuck at 1 percent.

A new Gallup poll showed that Americans are more confident now about finding a decent job than they have been since the start of the Great Recession. About 35 percent of those surveyed say now is a good time to find quality work.

The bump in middle class hiring will also give a boost to wage growth. About 1.3 million private sector jobs were created this year and they're paying $867 per week on average. That's up $24 from what those are making at existing jobs.

But economists warn that while we are seeing encouraging signs, the job losses in the middle class sectors were so deep, it's going to take a long time to rebuild.


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