Fear keeps Americans working overtime
US workers dedicate as much as 10 hours of their personal time to job-related tasks while hoping those jobs won't go away.
CNBC points to a Harris Interactive survey that indicates more than 91% of U.S. workers do work-related tasks on their personal time. Of those, 37% devote more than 10 off-the-clock hours to work each week.
Do Americans just take that much pride in their work and have some much ambition to spare that they can't imagine themselves slowing down for a second? Nope, they're just trying to keep their paychecks intact and their jobs secure.
Yet another survey by Gallup finds that since the economic crisis peaked in 2009, there's been no better time to exploit the U.S. workforce for longer hours and less pay.
A full 43% of U.S. workers are afraid they're going to have their benefits cut, down just slightly from 46% in 2009. Another 31% see a pay cut in their future, which is nearly the same as the 32% from four years earlier. Meanwhile, 29% are worried that they'll be laid off, which is a smaller percentage than the 32% in 2009, but still greater than the 26% who feared getting the ax in 2010.
In truth, U.S. workers absolutely hate their jobs. Roughly 52% of all full-time workers in the U.S. are not involved in their work and put only as much into it as they're forced to. Of those, 18% are "actively disengaged" and so bitter about their work that they're actively trying to sabotage the workplace and make life miserable for everyone else.
Why? Because they've watched their paychecks drop, the people around them get fired and the paychecks of the executive who run the place stay put through it all. The Labor Department says average wages are sliding. The economy has regained just 5.7 million of the 8.7 million jobs shed during the recession, but 65% of those jobs are low-wage. Never mind that nearly 60% of all jobs lost during the slump paid middle-income wages or better, according to the National Employment Law Project.
So, forget about all that "up-by-the-bootstraps" rhetoric and "pride-in-a-job-well-done" puffery: In the U.S., 50% of workers are doing work on their vacation days just to make sure there's a job to go back to. If they're taking vacation days at all.
In an ideal world, they'd have no problem trading places with their counterparts in the U.K., only 34% of whom ever check in with the office while on holiday.
Americans aren't workaholics, they're work inmates hoping that better times will grant them release.
More on moneyNOW
Fear of government mandates, regulations, cost and taxes, keeps companies from hiring. This is especially true as unit sales in most industries remain flat. Why hire, when you can pay overtime at 1.5 times normal?
As long as government continues to grow the employment picture will remain dim. Mr. Obama is clueless about the job and economy. He believes in big government and is a step away from creating 5 year government run programs.
We will have to wait at least 3 more years before the situation improves. The question is can the FED continue 85B a month in printing for 3 more years without economic collapse. Place your bets...
Stay tuned for further instructions.
Oh boy does this hit home! I have said this about corporations and government for five years. A case in point, I was just on a boring long conference call and noticed that none of the "bosses" on this call when they asked their subordinates to do something did they ask "please do this".
The 1% are in control and I am mad as hell and cannot do a thing about it as I want and need to keep my non-managerial job.
I work for a large corporation and I work through my lunch (off the clock-don't think they don't know this, every keystroke I do is monitored) ; if I am asked do something I jump on it. I need my job. We are all lemmings. They ask us to do these stupid company (so- called anonymous) surveys on what a great company they are to work for , blah blah blah. We saw one of our co-workers answer one of these so called anonymous surveys and he answered exactly what he was thinking and was called to the managers office. You can guess the rest.
Of course we are busting our a**es- we need our jobs, we need to eat,
I only see that 19 people commented on this...I guess the other 98.9999% were working 10 hours days...thank goodness I took a minute out of my day to comment.
THE SECOND UNITED STATES REVOLUTION IS UPON US!
Mirage guy;Nothing new from you.You`re still ignoring the facts.Housing up,car sales
up,stocks up bigtime.THANK OBAMA !
Copyright © 2014 Microsoft. All rights reserved.
Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.
[BRIEFING.COM] The stock market finished an upbeat week on a mixed note. The S&P 500 shed less than a point, ending the week higher by 1.3%, while the Dow Jones Industrial Average (+0.1%) cemented a 1.7% advance for the week. High-beta names underperformed, which weighed on the Nasdaq Composite (-0.3%) and the Russell 2000 (-1.3%).
Equity indices displayed strength in the early going with the S&P 500 tagging the 2,019 level during the opening 30 minutes of the action. However, ... More
More Market News
As geopolitical tensions threaten to spin out of control, investors are wondering how best to position their portfolios for the global turmoil.
MUST-SEE ON MSN
- Video: Easy DIY smoked meats at home
A charcuterie master shares his process for cold-smoking meat at home.
- Jetpacks about to go mainstream
- Weird things covered by home insurance
- Bing: 70 percent of adults report 'digital eye strain'