If it was ever true that “a rising tide lifts all boats” in an economic sense, it is clearly not true in modern America. Since 1980 half of Americans have been stuck in place—their wages in real terms haven’t budged—while the top 20% have seen large gains.
Too Many Americans Suffer from Financial Instability. Their Employers Can Help Fix It
Steady jobs no longer come with steady pay.
December 14, 2017
Summary.
Even those with long-term, “steady” jobs cannot count on financial stability because of the volatility and unpredictability of their incomes and expenses. As workers have taken on more risk—risk that they are unprepared to manage effectively—society has paid the costs: reinforcing rising inequality and declining mobility. These costs are now visible and undeniable. Steps to tackle them are clear. Will we have the courage to act?