Unemployment is down to 5%. Yay! So, why are so many people unsatisfied? Thirty years ago, low unemployment meant many more people with sustainable lives and a chance to get ahead. Now, the nature of work has changed. Being employed in the 1099 economy means a continual job hunt for the next gig, no vacation, variable wages, uncertain benefits, and thin or non-existent safety nets. Being employed no longer means being able to pay the bills, especially as housing, education, health care, and day care costs increase.
“Since 2008, the labor participation rate has fallen from a high of 67.3% in 2000 to 62.6% today.” – Quartz
As for the 1099 or Gig Economy;
“The number of Americans working in this capacity grew from 10.1% in 2005 to 15.8% in 2015″
If it feels like things are tougher even as the numbers are stronger, that’s because the numbers no longer measure the same thing that they did decades ago. The workplace has changed. Our measurements haven’t. Our emotions and our finances prove the difference.
(Click on the photo for the link.)