Each month, the Bureau of Labor Statistics releases its jobs report to outline the latest state of the nation’s economy. With it of late, have been plenty of positive headlines with unemployment hovering around 3.5%. Coming up Rosy.
We need to look at individuals, not national averages and ask; are wages adequate, can people support themselves and their families if they work full time?
Numbers don’t tell the whole story; are these jobs any good, how much do they pay, do workers make enough to live on? The answer is NO!!
These monthly statistics tell an important story: millions of hardworking American adults struggle to eke out a living and support their families on very low wages.
Regardless of whether the unemployment rate tics up or down, let’s keep the following numbers front and center in discussion on workers and the economy: 53 million people earn low wages, with a median of just $10.22 per hour. That’s nearly half of the 18-64 workforce. If we don’t face the reality of the labor market, we can’t make it better.
While some may boast of their current status of their 401K’s, their benefits, there are more out there who have much less.