Chart of the day

Posted: 17 November 2015 in Uncategorized
Tags: ,

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The headline of this Gallup report points to the fact that the financial well-being of involuntary part-time U.S. workers (workers who are working part-time but seeking full-time work) is similar to the financial well-being of the unemployed: 46.3 as compared to 44.6. Large portions of both groups of workers are struggling or suffering in terms of their financial well-being.*

What I find perhaps even more interesting is that workers who are employed full-time by an employer only achieve a score of 60 on financial well-being (with workers who are employed part-time and do not want a full-time job just above them), which is very close to the financial well-being score for the United States as a whole in 2014: 59.7.

Together, these figures indicate that most U.S. workers—part-time and full-time, employed and unemployed—are falling far short of real financial well-being.

We can think of it as the gap between what they produce and what they receive. In another theoretical tradition, that’s measured in terms of another index: s/v. It’s called the rate of exploitation.

 

*To assess financial well-being, Gallup (with Healthways) asks U.S. adults about their ability to afford food and healthcare, whether they have enough money to do everything they want to do, whether they worried about money in the past week, and their perceptions of their standard of living compared with those they spend time with. Financial well-being is calculated on a scale of zero to 100, where zero represents the worst possible financial well-being and 100 represents the best possible financial well-being.

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