Everything You Need to Know About Living Wage and the Actual Real Wages
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. It is mainly a basic human right that every working individual is entitled to as it is considered as the standard that every company must meet in order to set the wage of their employees. Click here now if you wish to get more info about the living wage.
But do you know that the living wage, as well as the real wage of every working individual, is not actually helping because while the income of most households are increasing, the real wages of most Americans are actually going down and in this article, we will provide you with more info about it.
Yet low income is not the problem many working individuals face these days because while their wage is getting higher, the cost of living is also increasing as well. For instance, statistics show that the hourly earnings of the working individuals rise by 2.8% but it is also wiped out by the 2.7% rise in the cost of living. This means that the increase in their wage is totally useless because they will just end up getting wiped out due to the increase in the cost of living not to mention the inflation rate as well. This means that even when the wage people get are getting higher, this is not a good thing at all because the economy remains stable and everything remains the same. It may be sustainable but everything is just too sustainable to not leave room for improvements at all.
Given the country’s economic status, many people these days resort to the gig economy so that they can work as many jobs as they can every single day. However, the gig economy is not really working well because most people working multiple jobs to get multiple earnings are just deceived by the psychological effect of receiving more often but the truth is, they are not really at an advantage. 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. Even when you only work once per day, you can actually earn the same and in fact, you could also earn more given that your employer is kind enough. If you wish to get more info about the gig economy and everything you need to know about it, read more in this page now!
To learn more about the country’s economic status and many other things you should know of as a working individual, visit this page now for more info.