Study: My Understanding of

Your Ultimate Guide to Living Wage and the Actual Wage of Every Working Individual

The governments provides for a visualized living wage which serves as a guide for most employers when fixing the rates for their employees. 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.

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. For example, while the hourly earnings many individuals get these days to increase by 2.8%, the cost of living also increases by 2.7% which is not really a good thing. 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. 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.

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. But the truth is, the gig economy is not really the answer because it just deceives you to the psychological effect that if you receive more paychecks a day, the more you earn. 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 are lucky enough, you can even end up earning more if you get one high paying job as compared to earning from various jobs and going from one shift to another in one single day. If you wish to learn more about the psychological effect in the gig economy, visit this page now for more info.

For more info about the things every working individual should learn of, discover more in this page now!