America has got a problem. A handful number of new jobs are good jobs. America’s unemployment rate is at a half-century low.
According to a Brookings Institution, not only there’s wide-spread unemployment rate but there’s also a job-quality problem that directly affects nearly half of the U.S. population. Smaller cities tend to have the highest share where it is found that, more than 6 in 10 workers are in low-wage jobs.
The study claims, 44% of the U.S. workforce is employed in low paying jobs with median annual wages touching a mere $18,000.
The majority of the 53 million Americans engaged in low-wage jobs are not teenagers or young adults. Instead, they are adults in their prime working years aging between 25 to 54. Their median hourly rate is $10.2. The bracket for the federal minimum wage is $7.25 per hour.
According to CBS News, Overall, an average median household income is $66,465 but roughly half of the population is earning less than this amount, Sentier Research reports.
In this current job crisis, many workers are raising their concern and voice saying; the benefits are worse now than five years ago.
This issue can be addressed by substantially working on improving workers’ skills and perhaps educating them to use the power of the internet and go for self-employment.
Freelancing could be one option. If these low-wage workers undergo job training and learn new skills, instead of looking for a job, they can choose self-employment and make good money. Not only they will become self-employed but they will also contribute to strengthening a nose dive economy.
The digital economy, work force is shaping many countries, Bangladesh, India, and Pakistan are three note-worthy countries. Both rank in top 4 of world’s economies that produce digital workers, freelancers, and startups.