“I don’t think people want a new direction,” Pelosi told CBS’s “Face the Nation.” “Our values unify us and our values are about supporting America’s working families.”

Tracking the Low-Wage Recovery: Industry Employment & Wages

This report updates NELP’s previous industry-based analyses of job loss and job growth trends during and after the Great Recession. The report shows that low-wage job creation was not simply a characteristic of the early recovery, but rather a pattern that has persisted for more than four years now.

We find that during the labor market downturn (measured from January 2008 to February 2010), employment losses occurred throughout the economy, but were concentrated in mid-wage and higher-wage industries. By contrast, during the recovery (measured from February 2010 to February 2014), employment gains have been concentrated in lower-wage industries.

As we noted earlier, February [2016] suffered the biggest ever monthly drop in average weekly earnings, because not only did hourly earnings drop but so did hours worked, resulting in far lower overall weekly wages.

What caused this? Nothing our readers don't already know: recall that in January, "70% Of Jobs Added In January Were Minimum Wage Waiters And Retail Workers."

February was even worse: most of the jobs that were created, if only on a goalseeked, seasonally adjusted basis, were of the lowest paying, worst possible quality as has been the case for the past 7 years as the BLS desperately seeks to "pad" its political mandate of providing proof in a recovery which however is impossible if it were to tell the truth.

As a result, as the BLS itself admitted, "job growth occurred in health care and social assistance, retail trade, food services and drinking places, and private educational services" - all of which are the lowest-paying wage groups.

WASHINGTON — Americans last year reaped the largest economic gains in nearly a generation as poverty fell, health insurance coverage spread and incomes rose sharply for households on every rung of the economic ladder, ending years of stagnation.

The median household’s income in 2015 was $56,500, up 5.2 percent from the previous year — the largest single-year increase since record-keeping began in 1967, the Census Bureau said on Tuesday. The share of Americans living in poverty also posted the sharpest decline in decades.

The gains were an important milestone for the economic expansion that began in 2009. For the first time in recent years, the benefits of renewed prosperity are spreading broadly. ...

The economic recovery, however, remains incomplete. The median household income was still 1.6 percent lower than in 2007, adjusting for inflation. It also remained 2.4 percent lower than the peak reached during the boom of the late 1990s. The number of people living in poverty also remained elevated, although it shrank last year by about 3.5 million, or roughly 8 percent.

You argue the abandonment of labor by the Democrats came to full fruition in the two administrations of Bill Clinton? How did Clinton who came from a working-class upbringing eventually betray the workers of the United States?

First of all, I'm not so sure about his background. It is true that he came from a very poor state, and that his family struggled, but Clinton's biographers always emphasize that he wasn't really of the working class: He always drove a new Buick, etc.

Clinton never had a really great relationship with workers' organizations, but the worst thing Clinton he did to them was NAFTA. There were many trade agreements, of course, but NAFTA was the one that mattered, both because it was the first one and because labor put everything into stopping it. Indeed labor had stopped it when George H. W. Bush tried to get it through Congress. Clinton got it done, however, with a little muscle and a vast fog of preposterous claims about how NAFTA would increase exports and manufacturing employment.

His admirers saw NAFTA as his "finest hour," because he had stood up to a traditional Democratic constituency. What an achievement. NAFTA handed employers all over America the ultimate weapon against workers: They could now credibly threaten to pick up and leave at the slightest show of worker backbone -- and they make such threats all the time now.

How did the Clinton administration become a surrogate of Wall Street, resulting in the far-reaching repeal of the Glass-Steagall Act?

In 1992, Clinton ran as a populist, deploring income inequality, but that was just an act. As president he seems immediately to have decided to cast his fortunes -- and those of his party -- with Wall Street. Bank deregulation was a persistent policy of his from the very beginning -- he signed the Riegle-Neal Act in 1994, for example, and the Mexican bailout (a big favor to Wall Street) came shortly thereafter. Along the way, he helped bail out a too-big-to-fail hedge fund, he twice appointed Alan Greenspan to run the Federal Reserve and he ensured that certain derivative securities would not have any kind of federal supervision at all.

At the time, Clinton's admirers thought this record was something to boast about. He had brought his party out of the Rooseveltian dark ages and had embraced modernity, etc.

Why did he do it? My explanation is simple class identification. Clinton's real class story has to do with his career in college and graduate school, where he became a star of the rising professional cohort. People with this kind of background saw (and still see) Wall Street as a part of the enlightened world, a part of the world inhabited by people just like them. They're so smart! Plucking wealth from thin air!

This is a little off message regarding the book, but can you speculate why the Republicans were so obsessed with removing Clinton from office when he was fulfilling so much of the GOP agenda, including negotiating with Newt Gingrich about cutting Medicare and Social Security?

(Emphasis Mine)

"Fulfilling so much of the GOP agenda": That is a point worth reiterating. Clinton had five major achievements as president: NAFTA, the Crime Bill of 1994, welfare reform, the deregulation of banks and telecoms, and the balanced budget. All of them -- every single one -- were longstanding Republican objectives. His smaller achievements were more traditionally Democratic (he raised the earned-income tax credit and the minimum wage), but his big accomplishments all enacted conservative wishes, and then all of them ended in disaster.

So why did the right try so hard to get rid of him? For one thing, because they always do that. They never suspend the war or stop pushing rightward. There is no point at which they say, "OK, we've won enough." For another, because Gingrich couldn't control the rank and file, a problem that persists to this day.

The final conservative consequence of the impeachment, although this one was surely not intended: impeaching Clinton made him a martyr and hence a hero to Democrats. It secured his family's and his faction's grip on the Democratic Party apparently forever.