Raising the minimum wage helps you no matter how much you earn. The next time the debate about whether or not your region of the world should raise wages you ought to argue for rating wages. The only downside of getting paid more is that…well, nothing really. Don’t believe the lies that raising minimum wage increases leads to job losses because there’s no evidence that that is the case.
Economist Arindrajit Dube of the University of Massachusetts at Amherst, who is perhaps the leading expert on the economic impact of the minimum wage, and his co-authors Doruk Cengiz (also at UMass), Attila Lindner of University College London, and Ben Zipperer of the Economic Policy Institute conducted the study. They used detailed data and advanced statistical methods to parse the effects of minimum-wage increases on low-skilled workers—including those making at or around the minimum wage—as well as on high-skilled workers and the economy as a whole.
The study finds that minimum-wage increases occurring over more than three-and-a-half decades resulted in higher wages for low-skilled workers, with no reduction in low-wage employment five years out. This was true overall, and separately for younger workers, less educated workers, and minorities. Low-wage workers saw a wage gain of 7 percent after an increase in the minimum wage.
Working a job that is free of stress is rare, however there’s an easy way to make your current job less stressful: work four days instead of five. This is obvious, but what might not be obvious to some is that a four day work week is just as productive as a five day week. One of the largest companies in New Zealand tested a four day week with their employees and found great success and now other companies are looking to them to learn about it.
Analysis of one of the biggest trials yet of the four-day working week has revealed no fall in output, reduced stress and increased staff engagement, fuelling hopes that a better work-life balance for millions could be in sight.
Perpetual Guardian, a New Zealand financial services company, switched its 240 staff from a five-day to a four-day week last November and maintained their pay. Productivity increased in the four days they worked so there was no drop in the total amount of work done, a study of the trial released on Tuesday has revealed.
The trial was monitored by academics at the University of Auckland and Auckland University of Technology. Among the Perpetual Guardian staff they found scores given by workers about leadership, stimulation, empowerment and commitment all increased compared with a 2017 survey.
Until we get something like universal basic income everybody will need to work. But why should you work in a job you don’t want?
James Altucher argues that this year, more than any previous year, is the right time to quit your job. Why? Because the robots will make us all unemployed and that starting your company has never been easier. If you are thinking of quitting your job or are looking for a new adventure maybe now is the time.
H) YOU DON’T NEED THE JOB TO BE HAPPY
Depression is highest in fully employed, first world countries. The two highest countries for depression? France and the United States.
We simply were not made to work 60 hours a week. Archaeologists figure that our paleo ancestors “worked” maybe 12 hours a week.
And then they would play, in order to keep up the skills needed to hunt and forage, etc.
As humans we tend to prefer short term rewards over long term gains and this is true even in a job search. We don’t think about the day to day of life when we think about the dream job – or just the next job. When you are looking for a new job think about what is fun for you. Having a good time at your job is more important than getting a higher salary.
In the workplace, we are similarly well aware that it is much easier to get out of bed in the morning if our job is interesting and our colleagues are fun to be around. But we care much less about such benefits when we apply for a future job. We fail to realize that the person we are in the present — the one who values intrinsic benefits — is awfully similar to the person we will be in the future.
This failure to know ourselves is not unique to employees. Gymgoers, for example, say it is important that their present workout is fun and relaxing, yet they care less about whether their future workout provides these benefits as long as it helps them stay in shape. The result is that people often sign up for the wrong gym class — the one that is best at maximizing delayed health benefits yet fails to deliver an enjoyable experience in the moment.
Stressed about not getting enough done at work? Don’t be. It turns out that you can improve how much you get things done at the office by not thinking about it. Turn your attention elsewhere and focus on things that do matter instead.
But, how can performance at work improve with less attention paid to it? There are several reasons:
Clearer focus on results that really matter to the people around you.
Less wasted effort on activities that aren’t that important.
Reduced psychological interference across domains as a result of being less distracted, because you’re taking care of critical needs in those other parts.
A virtuous cycle of benefits from one part of your life spilling over to other parts; for example, greater confidence, less crankiness, and a stronger sense of control.