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I am starting to understand what they are talking about when people discuss the middle class squeeze. My wife is a perfect example. She works for the government and has been doing the same job for 8 years. Each year she is doing a better job as her skills grow and she gets more eduation and training, but she keeps the same job title. Each year she get a 3.5% merit increase. This is the raise everyone who is considered a good worker gets. While the offical inflation rate is about 4%, most people know the real inflation rate is closer to 7%. So each year she has 3.5% less buying power than in previous years. So in 8 years, since she started her job which requires a Masters Degree, she has lost about 30% in her standard of living.
How about you, do you have a higher standard of living than in 2000? (if you have been working full time since then)
Taxes have far surpassed any increases in income I have seen. Expenses like gasoline, food and materials have climbed at least 10% per year. My standard of living is 1/2 of what it was in 2000.
Yep, totally agree with the original post. The only way around it so far for us is changing jobs every few years for a higher salary. Other than that, we got the 2-3% 'raise'. Woohoo.
One should really look at the long term prospects for their job when coming on board with a company. Is it a "dead end job", where they will do the same exact job for years to come, or will there be room for growth and advancements as their skills evolve?
It's tough out there, but employers should really look more into knowing what keeps employees on their payroll. I see way too many of the same excuses when an employee leaves a place of employment. That should never happen if they want to run a good business.
I had to move to another state to be able to afford a home. And in general, i don't think my money goes as far as it used to. I used to be able to go shopping all the time, take vacations, get the hair & nails done, etc... and those things are no longer on my list of affordable things. Sounds superficial but i used to be able to do those things. My mortgage pymt now is reasonable, about the same as what rent would cost so that has nothing to do with how much money i have left. Since 2000, heathcare insurance premiums have gone up significantly, gas is up, utilities, food (especially lately with the dollar dropping in value), and yet wages are stagnant. I'm going back to school now to get into another field to help increase my income just to try to keep up with expenses.
The Middle class which I was a part of is going the way of the dinosaur,,relagated to the past tense with a few scattered fossils so future
generations can unearth the remnants of a middle class household just to prove weactually existed....costs have skyrocketed while my income has flatlined...I don't have any ideas that will propel me to wealth,nor will I sit back an except poverty...Switching careers to something that fits the current economic climate in the United States and moving to a city that is quite a bit more affordable than where i currently live...end result 37% less monthly expenses with about same income...we just gave ourselves a 37% raise which no company I have every worked for would even consider...Good Luck
Was getting 3-5% raises from 1999-2006 (it was getting lower each year). Employer said no raises this year. I quit and got a new job for 6% more, so I got my raise anyway.
I used to think there was benefit in being a long term employee somewhere, but oftentimes it's way more beneficial to jump around from job to job, staying 2-3 years at each in order to get the proper increase in pay.
As soon as you realize they are bringing in new people for more than what they are paying you, the long-time employee, it's time to move on.
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