“Wealth work” is one of America’s fastest-growing industries. That’s not entirely a good thing.
In an age of persistently high inequality, work in high-cost metros catering to the whims of the wealthy—grooming them, stretching them, feeding them, driving them—has become one of the fastest-growing industries.
The MIT economist David Autor calls it “wealth work.”
Low-skill, low-pay, and disproportionately done by women, these jobs congregate near dense urban labor markets, multiplying in neighborhoods with soaring disposable income. Between 2010 and 2017, the number of manicurists and pedicurists doubled, while the number of fitness trainers and skincare specialists grew at least twice as fast as the overall labor force.
While there are reasons to be optimistic about this trend, there is also something queasy about the emergence of a new underclass of urban servants.