Despite the nation’s highest jobless rate in 26 years, American workers are seeing some encouraging trends this Labor Day, according to a report released Monday by Rutgers University.
In its second national labor scorecard, the Rutgers School of Management and Labor Relations said that for workers still collecting a paycheck, the average inflation-adjusted wages have actually increased and wage gaps for women and minorities have declined.
Still, the jobless rate continues to rise.
On the other hand:
According to the study, nearly 20 percent of workers have part-time jobs.
ECA – think carefully how averages work.
You have 500 people working:
200 make $5 an hour
200 make $10 an hour
100 make $15 an hour
It costs the corp $1000 + $2000 + $1500 = $4500 per hour to employ these 500 people. The average worker makes $9 per hour ($4500/500)
It lay off time. Let’s say all 200 people making $5 an hour are let go. Now the labour costs are $2000 + $1500 = $3500 per hour to employee 300 people.
Guess what! Average wage for those 300 people is $11.67 per hour. So, the average wage has gone up but no one is making more money.
Mike,
Avg wage may go up, but NOT on the bottom..
Its the persons on TOP that get the INCENTIVE BONUS..which OUR BOSS, got.
Tell those numbers to the person making $5, when the person making $50+ per hour is still working..
Yes, I understand that the person making $5 per hour is getting Employer paid fees to state and fed. Which is about 1/2 of his wage. But those Fees ARENT THERE if you figure he is UNDER 32 hours. Only thing that is extra is the Workers trying to figure out his hours, at the office that are getting $12 per hour.
yes, you fire 2000 workers, and you can get rid of 20-50 PAPER Shufflers, and 2-3 boss’s(maybe) and others along the LINE of employment.
They solved most of that, by using a Time and ATTENDANCE system AT the job site.(Floppy backup(LMAO)).
it comes down to HOW much can you work 5 people over 10 people to clean up and maintain your OFFICES. 1 person gets sick, and SPIT happens.
Knock off your sales force, and what happens to the BOSS’s wages?