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Wages?

  • Sat, Feb 19, 2011 - 12:40am

    #32

    Poet

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    Wages?

Meat-packing job paid $19 an hour in 1980, but today that same job pays closer to $9 an hour, according to the Labor Department.
Source: http://edition.cnn.com/2006/US/05/01/dobbs.immigrantprotests/index.html

The average CEO of a large U.S. company made roughly $10.8 million last year, or 364 times that of U.S. full-time and part-time workers, who made an average of $29,544, according to a joint analysis released Wednesday by the liberal Institute for Policy Studies and United for a Fair Economy.” (2007)
Source: http://money.cnn.com/2007/08/28/news/economy/ceo_pay_workers/index.htm

CEOs at Japan’s top 100 companies by market capitalization earned an average of around $1.5 million, compared with $13.3 million for American CEOs and $6.6 million for European chief execs at companies with revenues of higher than $10 billion, according to an analysis of 2004-06 data by Towers Perrin, a Stamford (Conn.) human resources firm.
Source: http://www.businessweek.com/globalbiz/content/feb2009/gb20090210_949408.htm

Question: What was the supermarket price of beef in 1980? What is it now?

Think: How much many workers could a Japanese CEO hire with the savings on not being paid like an American CEO? Or how much more could existing workers be paid in terms of a living wage to own a home and support a family?

Poet