Job Quality Under Capitalism

While acknowledging that many aspects of life have improved over generations, the unfortunate reality is that there is a disconcerting trend in the realm of work. New jobs are declining in quality across various critical metrics, and chances are, your job might not be as fulfilling as you think.

It's challenging to place personal work experiences into the broader context of the economy. Whatever hardships you may be envisioning, the general state of work is likely worse than you imagine. Various metrics gauge job quality, with one of the most apparent being monetary compensation. Unfortunately, modern jobs don't pay as much as they used to. Despite significant increases in productivity, hourly wages have only seen a marginal rise. The profits generated from heightened productivity have predominantly flowed into the pockets of the one percent, leaving the majority of workers with a diminished share.

In concrete terms, this inequality has cost middle-class families around $18,000 annually. Even though inequality is at some of its worst levels, the line at the bottom is still inching upward, indicating that wages are not rising, especially for the bottom 50 percent of the population. The average American pre-tax, pre-benefits income has actually gone down by over six percent since 1980, and this is before factoring in the rising cost of living.

Employers have reduced healthcare benefits since the 80s, and job training has become increasingly an individual responsibility. Student loan debt has soared, while the benefits of obtaining a college degree are on the decline. This shift is not limited to education; individuals are burdened with debt for various essential expenses, creating a scenario where credit becomes an integral part of household budgets.

Job insecurity is on the rise, with more people engaged in precarious work on an intermittent, irregular, or contractual basis. This trend, often referred to as gig hiring, is prevalent in sectors like the gig economy, where jobs are less secure, protections for workers are less enforced, and pay and benefits are subpar. According to a Princeton study, 94 percent of the net employment growth in the U.S between 2005 and 2015 has been in alternative work arrangements, such as independent contractors and freelancing.

The consequences of these trends are bleak, with unreliable work leading to heightened insecurity. As capitalism tends to spiral into recession every five years, the likelihood of a recession in 2023 has led to 80 percent of U.S workers worrying about job loss. This constant anxiety about job security under neoliberal capitalism contributes to wage restraint, as workers avoid seeking pay raises for fear of termination.

Even children aren't spared from declining job quality, as child labor laws are weakening in several states. Violations of child labor protections are on the rise, with legislation introducing or passing that eliminates age verification, parent/guardian permission requirements, and extends working hours for minors.

Turning to France, a country experiencing similar trends, the neoliberal president Macron raised the retirement age, mirroring the actions of Republicans in the U.S. Such policies actively target poorer individuals who rely on Social Security, making it clear that the insolvency of retirement funds is not due to a lack of hard work but rather a distribution of wealth to billionaires.

In addition to these challenges, the intensification of work is evident both physically and mentally. The increase in productivity and advancements in technology have not made work easier; instead, salaried workers are experiencing more physically and mentally strenuous jobs than ever before.

The common thread in these trends is the shift in power from workers to capitalists. Unionization has declined, and politicians have implemented policies that further weaken workers' rights. This concentration of power allows capitalists to exploit the workforce, leading to wage suppression, stripped access to healthcare, and union busting.

Attempting to romanticize a bygone era is not the solution. True improvement in job quality can only occur when workers have collective autonomy and economic decisions aren't solely driven by profit. If there's one takeaway, it's that jobs will never truly improve under capitalism as long as the profit motive remains the guiding principle. To achieve a better work-life balance, pride in work, and the benefits of technology for all workers, capitalism needs to be replaced with a system that prioritizes safety, working conditions, and human dignity over profit.