Wage Crisis

2013, Economics  -  26 min Leave a Comment
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The American working underclass has been under extreme tension for some time. Now with politicians not inclined to increase the minimum wage and food stamps stretched thin, the social ramification could be disastrous. The recession is not over for most American citizens. Most Americans have basically seen their salaries hibernate or go down since 2008. In fact, American average income of a full time male worker today is lower than it was 40 years ago.

Close to half of the working Americans can't save for an emergency or their own retirement. 50% of the people in U.S. live in financial uncertainty. It might be unbelievable, but New Jersey is the third richest state in the richest country on this planet, yet one it's likely to work full time there and in the same time live in financial difficulty. The prevailing story's been Obamacare and the debt ceiling, but more permanent story is the struggle to make ends meet. The middle class in the US is disappearing as wages go in reverse and secure jobs with good pay and benefits vanish.

If you think these problems are applicable only to New Jersey, think again. Across the country, from the Atlantic to the Pacific, there are more and more working people who are living in grinding poverty. America's regular working people have no sick leave, no holiday leave, no health care benefits in a society where medical aid is extremely expensive. It's morally scandalous that in a country as affluent as the U.S. they have such low, incredibly low, minimum wages.