This Is No Time To Count On Wages
It won’t surprise anybody to hear that the recent recession caused average wages in the United States, Canada, and around the world to take a beating. Workers everywhere have been suffering through a period of what economists optimistically call “wage adjustment,” with wages stationary or even decreasing almost across the board. With unemployment still elevated in the developed world, there’s plenty of opportunity – and incentive – for corporations to offer less pay for the same work. And that’s for those who are fortunate enough to hang on to their jobs.
What might surprise you, however, is just how long this has been going on. The recession was really only the latest blow that workers have suffered; in fact, wages have been stagnant or even declining since the year 2000, and in some sectors even earlier. And you can forget about a pension!
That’s not to say there’s no money to be had; corporations continue to show record revenue flows, and people who are already rich continue to soak up most of what growth has occurred since the recession ended. Take a look at the data for 2010; the top 1% of the population captured 93% of all income gains for that year. You don’t have to be a math whiz to figure out just how little that leaves for the rest of us.
The numbers don’t lie; the 21st century is no time to depend on a wage to support your way of life. Relying on a wage leaves you vulnerable to outsourcing, downsizing, layoffs and “wage adjustments,” and there’s little you can do but work hard and fight for the scraps passed down by those at the top. But there is a better way.
In this age of downsizing, rightsizing, “wage adjustment” and unemployment, securing your own personal independent earnings – or PIE, as we like to say here – is the key to economic stability and financial freedom. Rather than rely on the wage that somebody else is willing to pay you, you can undertake your own
Thanks to the power of the internet, it’s never been easier – or smarter – to start and manage your own, profitable business. The digital revolution has democratized the power to market yourself and your business to widespread audiences. With a sound product line and strong team support, plus some old-fashioned elbow grease, there’s nothing stopping you from taking your piece of those record revenue flows. The key, as always, is to do your homework first, and find yourself a business opportunity that’s robust, widely marketable, and easily understood. With the right tools and the right product, the world is your demographic.
Take control of your destiny by taking control of your income.