What is the “Labor Day Syndrome” you might ask?
If you live in North America like I do, then you already know that Labor Day is an annual holiday to celebrate the achievements of workers. It has its origins in the labor union movement, specifically the eight-hour day movement, which advocated eight hours for work, eight hours for recreation, and eight hours for rest.
But most people see it as the last long weekend of the summer… the official end of the summer holiday, as public school and university students return to school that week or the following week.
It is also the time when many employees get back from their last stretch of the summer holiday and get back into serious work mode.
In a way it’s a lot like New Year’s Eve, where most of us stop for a few minutes to contemplate what we have done in the last year when it comes to education and our career.
If you are one of the lucky few that actually loves their job or what they do for a living, then good for you! Take a few moments to celebrate your achievement as very few people are in your shoes.
If you fall under the majority of North American’s that are silently suffering from “Labor Day Syndrome” that voice in your head that tells you, “I need a new job”, or “I can do better than that”, then know that you are not alone!
According to Jobvite, one of the leading recruiting platform providers for the social web, 51% of workers who currently have a job are either actively seeking, or open to a new job. This means fully 71% of all workers in the U.S. are “on the job market” (meaning unemployed and looking, employed and looking, or employed and open).
Now these numbers are only for the U.S., which is one of the most affluent countries in the world. Imagine what these numbers would be like if we factor in the entire world population. That would literally translate to billions of people on the job market.
“Somehow, somewhere the majority of humanity subscribed to the employment model. They are waiting for someone to create the job for them, discover them, hire them, train them, nurture them and reward them with bonuses for a job well done” – (Design Your Income Online)
The funny thing is that according to the U.S. Bureau of Labor Statistics, the average hourly wage in the United States as of March 2015 is $10.54. It has remained almost unchanged for 9 years, since 2006 when it was $10.22.
Of course that is only the average and doesn’t paint the full picture.
The current minimum wage in the US is $7.25 while top CEOs of large corporations make millions each year. In hourly wage terms they would be making thousands of dollars per hour.
What this really shows is that while there are a few exceptions, the majority of the population has a relatively low income.
Why is there such a gap in income levels?
There are many factors to consider but in general, the world dictates how much money you make, according to three main factors:
- Competition: The number of people who are capable of performing any particular job
- Education: The amount of specialized skills or education needed to perform the job
- Leverage: Number of people that are impacted or benefit from your work
When you consider the above, it becomes easy to see why retail and fast food chain employees make so little money:
- There are endless supply of workers who can fill those positions
- No specialized skills or education is required…even teenagers can do them
- They only impact a small amount of people at any given time, which means they cannot be leveraged
If you’re dusting your resume this week and thinking, “I need a new job”, think again. Chances of finding and keeping that dream job are very low. Outsourcing to low cost of living countries is making the competition for technical and admin jobs that can be performed online even tougher.
To see a change in your income and career satisfaction, you need to take matters into your own hands and look for alternative solutions, like starting your own business or online business. It doesn’t have to be drastic. It could simply be something that you do on the side during the evening and weekends. You just might be surprised a year or two from now to find out that your side business is generating more income than your full-time job and before you know it, you will be looking to hire staff to help you in your business.
Why be a job hunter when you can be a job creator? Right?
Despite all the statics that point in the opposite direction, very few seem to make a connection that the majority of billionaires and multi-millionaires are not employees. On the contrary, they are the ones creating the jobs for the rest of humanity.
Sometimes all you need is a shift in mindset and know that when it comes to business, your options are endless.
Take a new direction and this time next year, you will thank me for it!
To your success!