I own a small business and over the last two years have gradually outsourced the vast majority of my work to virtual assistants. Nothing earth shattering there, the quality of their work is good and it's allowed me to free up a lot more time to spend with my family. Where this story gets interesting is my family members have now graduated college with degrees in decent fields and they can't secure a position over $45k per year anywhere in the western U.S. They didn't go to fancy colleges but still have student loans to pay back, but wages for workers everywhere seem surprising low for what employers are asking to be done. To help my family out, I've hired them on since my business continues to grow but here is my question..... I'm interested in hearing from folks out there, still in the workforce........is your standard of living better than it was just ten years ago or worse? We're really all in this together, so I'm genuinely curious.
Stock market crashed 10 years ago this month so in general terms standard of living should be better and appears that way from what I observe with people around me. People seem to be loosening those belts and being more free with spending. Stock market has done well in the past 10 years.
In terms of the young entering the workforce I don't know if that much has changed. It was probably just as hard 10 years ago. Degrees are less valuable so there is more competition and it is harder to stand out from the crowd. I think there is more emphasis on hitting the ground running now. Companies aren't as interested in expensive training programs. Lots of cost cutting.
This is a year and a half old but probably still relevant
I'm interested in hearing from folks out there, still in the workforce........is your standard of living better than it was just ten years ago or worse?
I retired ten years ago. I'm back working 2 and 3 jobs just to put food on the table.
I hear justifiable gripes from the younger generation that us ' old farts' are taking jobs from younger folks who want to work and raise a family.
Thanks mmfacemm and als, I really appreciate you sharing. Since I’ve “been around the block” a few times, I’ve seen Boom and Bust cycles before, this one seems different. Can’t put my finger on it yet. Again, really appreciate your insight!