How the 9-to-5 workday has disappeared
Work has changed dramatically over the last few decades, according to a report in The Wall Street Journal recently release it has become more time-consuming, less stable, and more flexible.
In 1973, 6% of Americans said they worked excessive hours while in 2016, 26% said they worked more than 48 hours a week.
Insurance coverage by employers has also dropped since 1973, although companies now provide more benefits to aid work-life balance, such as paid parental leave and remote work options.
Businesses are spending less on employees, both in terms of compensation and capital investment, while investors get triple the payout from 30 years ago.
This has all contributed to workers increasingly acting like free agents in the job market. While they have more control and flexibility, the “safety net that once came with full-time work has frayed.”
Don’t worry be happy
Americans are happier at work, but they might just be settling for less.
For the first time since 2005, more than half of U.S. workers say they’re satisfied with their jobs, according to the Conference Board, a research group. Employment is up, wages are finally rising and layoffs are near record lows, resulting in a more optimistic, contented workforce.
That buoyancy is giving Americans confidence to pull out their wallets. Depending on whether the tax plan for 2017 gets implemented the middle class will continue to get hammered with taxes to maintain the social programs such as social security, ACA and other various programs.
There is no such thing as a free lunch but employers are looking to try and maintain a profit. Small business owners will gain from the tax overhaul plan by not getting double taxed for corporate and personal income. This fact is not known by most Americans.
Hopefully the work place will improve over the next few years putting wages back into a reality check.