These days, the government sets up a visualized living wage for an average American which allows the companies to set the minimum wage for their employees. This visualized living wage refers to the amount of earning for every working individual that is enough to sustain a normal standard of living. If you wish to learn more about the definition of the term living wage, visit this page now for more info.
In order to provide you with more info about this issue, this article will bridge that gap for you and help you determine the flaw in setting the living wage for the real wages every working individual gets.
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. Along with the inflation rate, the increase of the working individual’s wage is getting useless because they will still be wiped out with their daily consumption. Everything remains the same even though there has been an increase in the working individual’s wage and this is why nothing is improving, you can details if you click this page and get more info. It may be sustainable but everything is just too sustainable to not leave room for improvements at all.
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. 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. This means that getting one high paying job is always better than going on daily gigs that only pays the same amount of money. 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.