IN A NEW research note on inequality, Morgan Stanley economist Ellen Zentner included this fascinating chart showing that, among OECD countries, the United States has the highest proportion of low-paying jobs, with Ireland not far behind.
The 2014 version of the OECD Employment Outlook report cited by Morgan Stanley defines low-paying jobs as those for which earnings are below two-thirds of a country’s median income.
According to the OECD analysis and the Morgan Stanley report, just over a quarter of jobs in the US fell in this low-paying category.
In 2013, the median annual income in the US was $35,080, according to the Bureau of Labor Statistics’ Occupational Employment Statistics program.
Under the OECD’s definition, then, a low-paying job would earn less than about $23,390.
In Ireland, the CSO estimates the average wage to be around €688 a week, or €35,620 a year. This means that anyone earning under €23,641 is classed as low-paid by the OECD.
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