MSCA6-1 Students will understand the personal nature of work and how it relates to them as individuals and as integral parats of society. a) Identify reasons why individual work (economic, social and psychological) b) Compare and contrast jobs vs careers. c) Determine viable career options (high demand, high skilled and high wage).

Standard of living A measure of the quality and quantity of goods and services enjoyed by a person, group or nation. Written by Barbara Mackessy

According to The State of Working America by Mishel and Bernstein, business profit rates have soared at the expense of the workers. The high profitability is a reflection on the employers shaping wages and working conditions not productivity growth. Families are being stuck with living standards of several years ago.

A child born in 1999 to become 18 in This is you! Agriculture secretary Dan Glickman reported (April 27, 2000) a family can expect to spend $160,140 for food, shelter and other necessities to raise a child to the age of 18. Low income family – $117,390 Middle income family – $160,140 Upper income family – $233,850 (These figures are not adjusted for inflation.) (USDA Government)

Geographic variations Cost of raising a child is higher in the urban West, followed by the urban Northeast and the urban South. Families living in the urban Midwest and in rural areas have the lowest child rearing expenses. (USDA news releases)

Recreational Expenditures Lower income families are doing more recreation because of cheaper activities and the government invested heavily in recreational facilities. The wealthy at one time were the only ones who were afforded these luxuries. (National Bureau of Economic Research)

Dual Career Middle Class Working Families The husband and wife in today’s working family now must do three jobs, the unpaid caring one and the two wage-earning ones. Work places are basically still geared toward the idea that the employees are full time males with the females at home to do all home and community chores.

Since Dec more than six million people have lost their jobs. What are they going to do? Who will pay their bills? How will they get their basic needs?

Retirement An older couple need an income of at least $10,000 to escape poverty. Expenditures for commuting, work clothing, restaurant meals may decrease along with lower taxes, and less expenditures on children. Medical expenses may increase. Most would like to maintain the same living standard in retirement. (National Center on Women Aging) When should you start planning for your future?

Personal Bankruptcies In 1978 – 200,000 personal bankruptcies Now over one million personal bankruptcies each year. The United States has experienced a decline in saving rates for the last three decades. Three-fourths of the American families have one or more credit cards with outstanding balances. A typical household gets 41 pre-approved credit offers per year totaling 243,000 in potential credit card debt. (National Center on Women Aging)

Standard of living Why do people work? You must pay for what you want and need to survive. We all have a different standard of living, depending upon our choices.

Standard of Living Group Activity You will be divided into groups of four. Each group has some decisions to make as a group. All members are to work together.

Family of four $10.00 per hour 40 hours per week Totals $ per week 4 weeks per month Totals $ per month per person Minus Federal and State taxes along with Social Security Leaves $ per month per person

Two people working = $ The family must have their needs provided Food Clothing Water/Sewer Housing and utilities

Car What type of car? How many cars? How old will the car be? What will the car have on it?

Housing House or Apartment? Rent or own? How many bedrooms? How many bathrooms? What location? What extras will be provided as part of the housing cost?

Insurance State law mandates car insurance Do you need medical insurance? Do you need disability insurance? Do you need vacation insurance? What types of insurance are needed today?

Other expenses Cable TV Electric bill Natural gas bill Furniture payments Savings College funds Dental bills Car gas and upkeep Recreation Eating out Entertainment Vacations Telephone bill Doctor’s bill Movies/dances Cell phone Internet What can you afford???? What can you do without?

After our groups/families have completed their budget for their standard of living. We will take a look at the classes choices and discuss the differences. Each group spent different amounts on different items. Why? Does the family decide what to purchase? When is the choice taken away from the family?