Low pay for workers is undermining our society. It's the root cause of the federal deficit and robs Social Security and Medicare of billions of dollars each year. In Social Security by the Numbers I noted worker income as a percentage of business income has sharply declined since 1990. By some estimates this income has dropped from 60% of business income to around 50%. This represents over a trillion dollars in lost income for workers.
I aim to change that.
We can use the market to our advantage by creating higher demand for workers. The way we do that is by seeking jobs with higher wages--together, at once.
As I outlined in Social Security Needs Higher Earnings, we can work together to increase our wages. This doesn't require a strike or even any organized effort. It comes as the result of an idea.
That idea is to use May Day, International Labor Day, as the day to make our individual commitment to seek higher wages. On this day I ask you to commit to using the following month more intensively than you usually do to look for a job that pays more. You don't have to take the job, should you find it, just because it pays more. But the act of seeking it creates force in the marketplace that will increase wages.
To encourage you, I will post a new diary on each Friday in May just for people to post their result:
- Did you commit?
- Did you update your resume?
- Did you update your online profiles?
- Did you call any companies?
- Did you set up or go on an informational interview?
- Did you get a job offer?
- Does it pay more? By what percentage?
- Did you take a new job?
I'm only asking for a little more work out of you. And, it's so worth it.
Think economically. Act individually.
Good luck on your new job!