Associated Press (01/23/13) Bernard Condon; Paul Wiseman

Since the start of the Great Recession, millions of middle-class jobs worldwide have been lost. Labor market experts say most of the jobs won’t return, and millions more likely will vanish. The lost jobs aren’t just in manufacturing, but increasingly are in the service sector, where two-thirds of all employees work. These jobs—ranging from secretaries to travel agents—are largely being obliterated by technology. Even information technology staffs are at risk, now that services exist allowing businesses to rent computing power when they need it. In the U.S., 50% of the 7.5 million jobs lost during the Great Recession were in sectors that pay middle-class wages. However, just 2% of the 3.5 million jobs created since June 2009 pay middle-class wages. About 70% of the new jobs are in low-paying sectors.

Reuters (01/22/13) Ben Hirschler

Chief executive officers are less optimistic this year about short-term growth prospects for their companies than they were a year ago, according to a PricewaterhouseCoopers survey. Only 33% of U.S. CEOs are “very confident” about their company’s prospects for revenue growth in the next 12 months, a decline from 42% a year ago. This marked the second year in a row of falling confidence, and signals trouble on the hiring front. Fewer CEOs plan to recruit in 2013, and many plan to cut staff.

Dow Jones Newswires (01/22/13)

Lowe’s Cos. has increased its temporary-worker hiring plan for the spring season from last year. The retailer says it plans to hire 45,000 seasonal employees, including temporary positions like cashiers and stockers that supplement its ranks during a home-improvement demand spike in spring and summer. A year earlier, the merchant aimed for more than 40,000 seasonal hires.