Have you lost 25% of your earnings in the past decade?
No way! You'd notice if a quarter of what you take home disappeared. You'd be ready to fight someone, or call the cops if that were the case. Right?
But look a little closer.
Consider your costs. Are you paying more for insurance than you were 10 years ago? Probably.
What about your earnings? Have your pay raises outpaced inflation? Hopefully, if you're lucky.
Most people, however, haven't been so lucky.
We took a close look at publicly-available numbers around how much the typical American worker earns. We paired that up with what they pay in taxes. Then, we added in out-of-pocket insurance costs.
The numbers were jarring, to say the least.
Our Andrew Graft told the story in an article for TLNT.com last week. Click here to check it out.
Straight up, the typical American worker is taking home 10% less than they did in 2006. Factor in inflation, and that number jumps to 25%.
This isn't just about compensation. It's about why people work: to be able to provide for their families. To pay for needs and wants, things like homes and vacations and school and going out to dinner every once in a while.
Last week the Census Bureau revealed that Americans received some wage relief for the first time in a long time in 2015. Which is very positive.
But it isn't enough to change the narrative: thanks to stagnant salaries and rapidly rising insurance premiums, the status quo, even with modest raises, is a losing proposition.
So what does this mean to you? How could it be affecting your office?
And how can you help your employees get into a better position financially?
Andrew answers those questions, and breaks down the numbers, in the TLNT article. Be sure to check it out.