Americans are experiencing a hugely increased cost of living. In December 2022, it was up 6.5% from the previous year, meaning money isn't going as far as it once was. As gas and grocery prices increase, wages aren't keeping up.
Inflation has slowed from its peak of 9.1% in June of last year, but the consumer price index (CPI) rose 0.4% in February--that followed an increase of 0.6% in January. And although average hourly earnings are up 4.6%, year-on-year according to the the Bureau of Labor Statistics (BLS), real average earnings for all employees actually decreased 0.1% in February.
Adding to workers' woes is a finding from Primerica that the majority of middle-income families who earn between $30,000 and $100,000 say their earnings aren't enough to cover basic day-to-day living expenses.
Primerica also found that seven in 10 middle-income consumers are cutting back on restaurants and take-out meals, and the same number plan to forgo upgrading their phones or other tech because of inflation.
How to save
The big concern for many workers at the moment is how to preserve cash. The latest report from Work From Home Research has some welcome findings, one of which is that remote work is one way to save a significant amount of money.
In New York City, working from home has led to people spending $4,661 less per-year on average on food, shopping, and entertainment in their offices' neighborhoods. In Chicago, workers are spending $2,387 less annually, and the figure comes in at $3,040 in San Francisco.
While you'll likely save more if you live in a bigger city, all workers can benefit from the cost-savings associated with remote work. Cuts can be made to a range of things including commuting costs, clothes--and that pricey lunchtime option.
More intangible is the fact that you also get time back, have flexibility to balance your work and personal responsibilities and can potentially experience improved well-being. In fact, remote work has been so taken to heart by American workers that a recent McKinsey survey found that 87% of employees would take the opportunity to work remotely if offered.
However, more and more companies are rowing back on remote working options. New data from Pew Research Center found that all remote work declined from 43% to 35% since the start of 2022, and other research found that 50% of U.S. workers would rather quit than be forced back into the office full-time.
That means that if remote working is your priority, it will be important to ensure that your job allows you the necessary flexibility. And if it doesn't? A move to a role with good hybrid and flexible work environments could be on the cards. Discover three such jobs below, and find many more on the Science + Nature Job Board.
Sr Staff Cyber Security Engineer, GE Aviation, Remote
GE Aviation is seeking a Sr Staff Cyber Security Engineer. You'll be a highly motivated IT professional and will own secure development and security DevOps. You will collaborate with software development teams across GE to establish and drive industry-leading patterns to create products and services, provide insights directly to developers, and operate like developers to make security and compliance available as consumable services. A Bachelor's degree from an accredited university or college with a minimum of five years; of professional experience is required, as is five years' of professional experience in cyber security engineering. Browse the full requirements for this opportunity here.
Senior User Experience Designer, Autodesk, Portland/Hybrid
The Autodesk Fusion 360 team is looking for a Senior User Experience Designer with a passion for crafting elegant, scalable solutions for complex problems. You will apply your experience design and research skills to craft design patterns that will create the foundation for the next generation of design and engineering CAD tools. Candidates can work in Portland in a hybrid/remote capacity and will need four years' of related professional UX design experience and a solid understanding of design systems, design patterns and reusable components. Apply for this position here.
Solutions Architect, Genentech, San Francisco/Remote
This technical leadership role can be located at a Genentech campus or fully remote. The Solutions Architect is responsible for the long-range strategic planning and tactical implementation for scientific and business application development. You'll need a high degree of scientific knowledge, understanding of R&D data pipelines and the pharma informatics landscape, in order to establish and lead cross-functional partnership to ensure data findability, accessibility, interoperability and reusability. To apply, you'll need a BS/MS/PhD, plus a minimum of 15 years' of relevant experience. It's preferable that at least 10 years' of your experience in the pharmaceutical or biotech industry. See all the requirements here.
Browse the Science + Nature Job Board to find your next career move
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