Americans are working less

[HemiEd]

I have my own theories on this, such as the stay at home working during covid and the stimulus money being the worst thing that has happened in a very long time.


Why Americans Are Working Less

Gallup finds that average hours worked have dropped progressively since 2019 when U.S. employees reported working an average of 44.1 hours. In 2024, they work 42.9 hours per week.

The decline in hours worked is more pronounced among younger (those younger than 35) than older workers (those aged 35 and older). Between 2019 and 2024, older employees have seen an average reduction of just under one hour per person per week, while younger employees have reduced their hours by nearly two hours.

Over a year, that’s the equivalent of older employees taking an extra week off of work and younger employees taking two weeks. These trends apply to full-time employees working at least 30 hours per week.

Possible Reasons for the Drop in Average Hours Worked per Week
Several new findings may explain this shift:

Overall employee wellbeing has been on the decline.
Employees now have less trust in institutions in general and feel more detached from their employers.
After a decade of steady improvement, employee engagement has reverted to its 2014 level.
Advances in technology may be making work more efficient. Gallup finds that nearly half (45%) of employees say AI has helped them improve their productivity. However, a workforce that is becoming more technically efficient and less engaged may lack the motivation needed for long-term growth.
Employees -- especially younger ones -- now place a higher priority on their overall wellbeing. In fact, work-life balance and better overall wellbeing now rank among the most important considerations when choosing a new job.
Additionally, data from the Bureau of Labor Statistics (BLS) shows declines in overall hours worked per person, particularly in industries that traditionally employ more young workers such as retail, leisure and hospitality.

The Connection Between Hours Worked and Employee Burnout
Burnout may be a major reason why employees are working fewer hours. The World Health Organization (WHO) has classified “burnout” as a work-related syndrome resulting from chronic stress.

Previous Gallup research has found that an unmanageable workload is one of the contributing factors to burnout. This may help explain why employees report higher burnout (very often or always) as the number of hours they work rises above 45 hours per week.

more here

https://www.gallup.com/workplace/658...78644b3aaad4a0

[Bearcat]

Originally Posted by kccrow

With no down payment, you're going to get slapped with a PMI, and if it's a 0 DP it's probably going to be like 2% or more.

If you buy a home for $200k with a 6.5% interest rate, no DP s0 2.25% PMI, 15-year term, assume 3k in property tax, and 1500 in homeowners insurance, you're looking at total monthly payments of about $2,870. If you want that to be 30% or less of your income, you have to make at least $115k a year.

The only way to get where you're at is on a 30-year term and you better have money down to avoid PMI.

Yeah, I just used a basic mortgage calculator that included the stupid ****ing PMI, which came out to like $1634/month... no down payment for simplicity, but also have no idea what's out there for first time homebuyers.

Definitely worse than I would have guessed, even though I knew it was bad.

I went back and looked in the neighborhood where I bought my first house at $90k and a comparable one down the street just sold for $190k.

[Pablo]

Originally Posted by Bearcat

Yeah, I just used a basic mortgage calculator that included the stupid ****ing PMI, which came out to like $1634/month... no down payment for simplicity, but also have no idea what's out there for first time homebuyers.

Definitely worse than I would have guessed, even though I knew it was bad.

I went back and looked in the neighborhood where I bought my first house at $90k and a comparable one down the street just sold for $190k.

Yeah all of the inner city and starter homes are owned by REITs and LLC Landlords with dozens and dozens of properties now. You need to be ready to spend 300-350k if you want to live in a reasonably desirable area with acceptable schools. That number was more like 200-250k pre pandemic

[BWillie]

Originally Posted by rydogg58

So did Baker Mayfield, and Goff, and Burrow, Hurts, Darnold, Herbert, Allen, Carr, Tua, Daniels, Love, Purdy, Stafford, and Malik Willis.

Nobody, other than people that don't like Mahomes, thinks QB rating means anything when it comes to identifying who the elite quarterbacks are in this league.

Just making note. Mahomes sure has played subpar for his standards the last couple of years. One more year and it is a trend.

[mr. tegu]

Originally Posted by BWillie

Russell Wilson has a better QB rating for the season than Patrick Mahomes...not just last season but the season before that one too.

And that was with working less hours since Fields started some games.

[Rain Man]

Originally Posted by Bearcat

Yeah, I just used a basic mortgage calculator that included the stupid ****ing PMI, which came out to like $1634/month... no down payment for simplicity, but also have no idea what's out there for first time homebuyers.

Definitely worse than I would have guessed, even though I knew it was bad.

I went back and looked in the neighborhood where I bought my first house at $90k and a comparable one down the street just sold for $190k.

Funny thing is that almost exactly matches my first house mortgage 30 years ago, both in price and payment. ($17x,xxx mortgage with a payment of about $1,650). Living in central Denver was not a cheap undertaking.

[HemiEd]

Originally Posted by Pablo

I guess that $1000 phone is really cramping some folks style. Meanwhile you had enough money to have multiple vehicles and a boat while making $5/hour. Totally reasonable and justifiable expenses for sure. Boy I wonder if the world you came up in was just completely different or something

Different priorities. A phone is just a communication device. We didn't walk around bumping into shit while staring at a phone. We were actually involved with our surroundings instead being consumed by the abstract.

When I was 6 I could tell you the make and model of every car on the road as I wasn't looking down at a phone or gameboy etc.

Now it is the norm to see a person driving a 3000 lb vehicle down the road a speed staring at their phone. I wish their was a requirement for the phone makers to have them disabled while driving.

[HemiEd]

Originally Posted by Pablo

That seems fair. 3800 would have bought you 3 cars in 1975. And you’d make sure you had one for each day of the week just so you don’t get too bored driving the same thing

I have a 3 year old iPhone that I will most like keep for another 3 years because I don’t really give a shit about phones until they start sending nerf updates that make this one run like shit

Now you are just exaggerating for your own amusement I guess. My new Chevelle in 72 was $4100 and new Dodge Van in 77 was $6200.

[HemiEd]

Originally Posted by Rain Man

Funny thing is that almost exactly matches my first house mortgage 30 years ago, both in price and payment. ($17x,xxx mortgage with a payment of about $1,650). Living in central Denver was not a cheap undertaking.

It's a journey for sure and the market like Denver/Chicago has a big impact.

We paid $2100 a month in Chicagoland for 17 years even after putting enough down to avoid the PMI. Refinanced multiple times due to interest rate fluctuations.

Last July's storm damage repair to this home was more than the price of our first two homes gross sale price combined.

[Mosbonian]

Originally Posted by HemiEd

Different priorities. A phone is just a communication device. We didn't walk around bumping into shit while staring at a phone. We were actually involved with our surroundings instead being consumed by the abstract.

When I was 6 I could tell you the make and model of every car on the road as I wasn't looking down at a phone or gameboy etc.

Now it is the norm to see a person driving a 3000 lb vehicle down the road a speed staring at their phone. I wish their was a requirement for the phone makers to have them disabled while driving.

I still laugh when I see someone bump into another person....a lightpole...street sign because they were looking down at their phone.

And on more than one occasion I have had to stop someone from walking off the curb and into oncoming traffic.

[Mosbonian]

I cannot imagine having to go out and buy a house these days....the overinflation of values of homes driven by the commercial buyers has made the American Dream more of a nightmare.

My first house I bought at age 21 was priced at $35k in 1978 and I financed it with an FmHA loan I had to refinance after 2 years. It was 2 bedrooms, 1.5 baths and an unfinished basement....the perfect starter home for a young married couple. Those types of homes rarely exist these days.

My house payment was something like $125.....

It is a shame that what I paid for my starter home back then would only buy a Tiny Home in today's economy..

[Dayze]

I’m definitely jaded after 25 yeats of busting my ass in project management
My current role I’ve been in since 2021 after getting whacked after yet another major 5+yr project. I recently had my review and had a AA rating which is bacially “exceeds expectations” . It yielded me a whopping 3.3%. Last year I “met expectations” and got a 2% raise. All the pain and aggravation of meeting goals and objectives and busting my ass wasn’t worth the 1.3% extra .

I’m at the point in life I have zero desire to climb back into management or move up the ladder. It ain’t worth it at all. I’ve hated the field I’ve been in for 25 years, soul sucking work. Zero accomplishment. Zero reward. Zero sense of achievement. Zero interest. Just a meat grinder.

I couldn’t believe that 3.3% bullshit, just makes me want to do the bare minimum lime 95% of the office.

[Pablo]

Originally Posted by HemiEd

Now you are just exaggerating for your own amusement I guess. My new Chevelle in 72 was $4100 and new Dodge Van in 77 was $6200.

Buying brand new vehicles every five years? That’s certainly financially responsible

And yeah I am making stuff up for my amusement. Much like 70+ year olds believe iPhones and avocado toast are the roadblock to achieving the American Dream.

[notorious]

Originally Posted by Pablo

And yeah I am making stuff up for my amusement. Much like 70+ year olds believe iPhones and avocado toast are the roadblock to achieving the American Dream.

Don’t forget those super-expensive flat-panel television sets.

[HemiEd]

Originally Posted by Pablo

Buying brand new vehicles every five years? That’s certainly financially responsible

And yeah I am making stuff up for my amusement. Much like 70+ year olds believe iPhones and avocado toast are the roadblock to achieving the American Dream.

I was trying a bit ago to think of this in your perspective.

I have a 12' shelf upstairs with a lot of stuff that has been replaced by your phone.
Polaroid camera, 2 Nikon 35mm cameras, early digital cameras, Cannon video camera, early GPS units, wall phones, a battery powered 4 in hand held tv, small recorder, variety of early cell phones etc. etc.

So if you add the price of all of those up they would easily come to the price you are paying for the latest phones.

I guess it is all about perspective.

[HemiEd]

Originally Posted by notorious

Don’t forget those super-expensive flat-panel television sets.

Yeah, I still can't wrap my head around the idea that some people actually watch games on their phone.