Happy Labor day everyone! It’s called the end of summer holiday. But this is a day of remembering how far we’ve come and what’s left do for our workers. We’ve come a very long way. This became a holiday back in 1894 when the movement began in 1887. Trade and labor unions/workers banded together to provide solutions to make work conditions livable.
In recent year’s we’ve digressed in our labor practices in some ways and progressed in others. Some of which include like Google making the work environment as a playful and productive environment. Seriously, find out about Google work environment.
We have work from home opportunities. Companies now have diversity and inclusion initiatives. There are health insurance plans and 401k’s. We’ve come a very long way in over 100 years.
The biggest problem we have now is the Federal minimum wage. We as a nation haven’t seen a minimum wage increase since 2009. The problem isn’t necessarily that we have a minimum wage increase it’s that the purchasing power of the dollar has gone down.
If you’re working minimum wage job for 40 hours a week you will not have enough to live. Major corporations are thriving off of this. How do we balance this? Some states and even some corporations are taking initiative.
The Millennials are getting the worst of this. In 2015 the Bureau of Labor Statistics showed that “Less than half (45%) of the 2.6 million hourly workers who were at or below the federal minimum in 2015 were ages 16 to 24. An additional 23.3% are ages 25 to 34, according to the Bureau of Labor Statistics; both shares have stayed more or less constant over the past decade. That 2.6 million represents less than 2% of all wage and salary workers.”
Note; this just accounts for hourly minimum wage workers. This doesn’t include the major expenses our generation has accrued. We Millennials are struggling with Credit Card debt, college student loans, and an aging workforce that doesn’t want to/can’t retire. This is an issue we have to address right now. Take some time to think about it.
Tip a little extra today for those who are working for Labor Day. Odds are it’s a Millennial!