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Posted: 6:00 a.m. Monday, May 20, 2013

Fighting for a fatter paycheck

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Why do I have a smaller paycheck this year? photo
Why do I have a smaller paycheck this year?

By Clark Howard

Wages are stagnant even at a time of slow economic recovery. But that doesn't mean you have to settle for an anemic paycheck.

New stats show that American workers have no more purchasing power today than at end of Great Recession. The reality is that corporations have whacked at labor costs to preserve profits. Many employers have set a 2% ceiling on wage increases.

We as employees are in an economic straightjacket. How do you break loose? You need to get new training and new skills to make yourself more valuable. Get the training necessary to compete for a higher paying job or start a business yourself.

The responsibility comes back to you. Be an entrepreneur if you can fill a need not currently being met in the marketplace.

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