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The Gap Between Actual Real Wages and the Visualized Living Wage

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. For more info about the living wage, click here now!

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.

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 instance, statistics show that the hourly earnings of the working individuals rise by 2.8{5274d1ae3860945fa15d426e958880b0f2a6803952401e8fc3fb783652a5ddc5} but it is also wiped out by the 2.7{5274d1ae3860945fa15d426e958880b0f2a6803952401e8fc3fb783652a5ddc5} 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. 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. If you visit here, you can get more info when one can really say that everything is too sustainable that there is no room for improvements anymore.

In order for the people to make ends meet check for more info here because most of them resort to turning to gig economy where they get to work on multiple jobs to get multiple earnings. 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. Let us paint a picture for you to understand better how the gig economy works and why it shouldn’t be considered as an option for you unless it is just your last resort. Given such, it is always best for you to go for a single high paying job instead of exhausting your body with various jobs per day. 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. Click this link now if you wish to get more info about the gig economy and everything that you need to know about it.

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.