Pay us like you owe us
According to a US Census Bureau study on poverty and income inequality by Brian Glassman the areas with the fastest population growth between 2005-2015 had below average poverty and below average income inequality. Though nationally above average poverty in metro areas hover around 45%. In the South that number swells to an astonishing 57%.
While corporations have enjoyed record profits in the 8 years following The Great Recession. American wages and salaries have been on a steady decline since 2001, source: US Bureau of Economic Analysis. With large companies moving south, right to work legislation and an economy based heavily on manufacturing The Detroit Metropolitan Area has significant challenges. Unfortunately, much of Michigan’s success relies heavily on its southeastern economic region. According to Crain’s Detroit Business, Michigan has had a net population loss of over 700,000 people since 2001.
We are on a downward economic slope, hoping to recover financially and ascend to higher wages, income brackets and a better quality of life. A decent wage for a hard days work is only part of the equation. I came across a post recently called the 40-40-40 scam. “The 40-40-40 scam is where you make someone else rich by working 40+ hours a week for 40 years and then try to retire on 40% of what you couldn’t live on in the first place” – unknown. We have to break the cycle by learning to invest, sticking to a budget and finding ways to create multiple streams of income. Ultimately we have to know our worth. We cannot remain in positions or companies that enjoy record profits while grossly underpaying their employees. As Hov once said, “Pay us like you owe us . . .”