The Gap Between Actual Real Wages and the Visualized Living Wage
If you are wondering how the employers fix the rate for their employees, they are actually guided by the visualized living wage provided by the government. This visualized living wage refers to the amount of earning for every working individual that is enough to sustain a normal standard of living. For more info about the living wage, click here now!
If you wish to find out the flaw in the living wage and the actual wage every working American gets, this article is for you because here, we will give you more info about it.
But the problem with most working individuals these days is not low income but the fact that even when their income is getting higher, they are also getting less money because the cost of living is also getting higher at the same time. The numbers alone do not lie because if the average working individual’s wage goes higher by 2.8%, the cost of living also increases by 2.7% which automatically wipes out their earnings. If you come to think of it, the increase in the wage has no effects at all most especially when inflation is also considered which is something that drags people down. The improvements are almost irrelevant because even though there is an increase in the real wage, everything remains the same. Wages are getting higher but since the cost of living is also increasing, the wages of every individual are just being used for their daily consumption.
For most people, turning into the gig economy is one of the best options available for them if they need to make ends meet given the country’s latest economical status. Yet the gig economy is not really the answer that you are looking for because even if you receive countless paychecks, it doesn’t mean that you can already earn more. For instance, you could work up to three gig jobs a day and receive three different paychecks from three different companies when as a matter of fact, you can combine these three and earn the same amount in one high paying job. For instance, if you are working various jobs to get multiple wages and get as many paychecks as you can, you can actually get the same amount in just a single paycheck with just one job. If you apply for a high paying job, there is actually no need for you to work shift after every other shift in a day because you can get the same amount of income with just single shift per day. If you wish to learn more about the psychological effect in the gig economy, visit this page now for more info.
If you are hoping to learn more about the things that you need to know of regarding the country’s economy and all other stuff every working individual should know of, click here now for more info.