The Gap Between the Rich and
Poor Continues to Widen

In recent years, the gap between the rich and the poor continues to grow in all of the developing world.

This shift of wealth is one of the factors contributing to global poverty. The ever-changing financial environment has made it more difficult for people and families to get ahead and the middle-class shrinks.

Larger events, such as changing world markets have changed the economic landscape and forced many people to rethink the way they approach life. Jobs that once provided employees with opportunities and lifelong jobs with benefits have been replaced with things like automation.

Many companies have even started outsourcing their hiring to temporary agencies, which gives them the advantage of not being responsible for paying benefits to these workers. By not bearing this financial responsibility to employees, the company or corporation offsets paying expensive insurance coverage, funding retirements and other expenses associated with managing a workforce.

From a business standpoint, this is all very savvy and something that stockholders want to hear from the companies they invest in.

As for someone in the working class, this change in hiring practices, especially in larger corporations that specialize in blue-collar jobs such as manufacturing, has been devastating. In most cases, people who are hired through temporary agencies are paid at a lower rate as a full-time employee who was directly hired through the company, which is also a factor in them not being able to get ahead.

Being poor is something that can affect an individual and their family on every level. Generally, it is harder for them to afford things in life that many people take for granted. With limited access to credit or savings, an emergency need for cash can be devastating and cause people to agree to short-term loans with predatory terms.

In some cases, people may resort to forms of anti-social behavior such as petty crime, theft, prostitution, selling drugs or other unlawful acts as a way to make extra money.

In other cases, people find ways to make do with what they have and live as happily as possible. Depending on the person, this may include shopping as frugally as possible, working more than one job or taking on an extra roommate to help cover basic living expenses such as rent, the mortgage or household utilities.

While the income gap is problematic, being able to adapt is key to making the best out of your situation.