If you pay attention to the flood of recent news reports about jobs in America, you might think that workers have it made these days. After all, the official unemployment rate is close to a 50-year low. But in many ways, workers are facing a bleak situation.

There is less and less relationship between those who have “work” and those who are making enough money to survive. In 2017 nearly 80% of full-time workers were living paycheck to paycheck. Almost half of working Americans have a side hustle, often because they need the extra money. More than one-quarter of Americans did not plan a summer vacation this year (and another 22% had not yet decided when polled). Most of them say they simply can’t afford it.

...