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

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. Click here now if you wish to get more info about the living wage.

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.

The problem with the living wage visualized by the government and the real wage among every working individual these days is that while the wages are getting higher, the cost of living also increases. 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. 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.

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. 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. One good example of this is when you are working three to four gigs per day and you get to receive as many as four paychecks from four companies, you are actually at a disadvantage because you can earn the same count of money that you earn with your four jobs if you get a single 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!

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