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This explains persistent evidence of consistent wage differentials across industries (e.g. Slichter 1950; Dickens and Katz 1986; Krueger and Summers 1988): if firms must pay high wages to some groups of workers – perhaps because they are in short supply or for other efficiency-wage reasons such as shirking – then demands for fairness will ...
Instead of the conservative motto, "A fair day's wage for a fair day's work," we must inscribe on our banner the revolutionary watchword, "Abolition of the wage system." [8] Response of the Industrial Workers of the World to the AFL motto, from the IWW Preamble. Kickin' ass for the working class... Labor is entitled to all it creates
A wage is payment made by an employer to an employee for work done in a specific period of time. Some examples of wage payments include compensatory payments such as minimum wage, prevailing wage, and yearly bonuses, and remunerative payments such as prizes and tip payouts. Wages are part of the expenses that are involved in running a business.
The decoupling of median wages from productivity, sometimes known as the great decoupling, [1] is the gap between the growth rate of median wages and the growth rate of GDP per person or productivity. Erik Brynjolfsson and Andrew McAfee highlighted this problem toward the end of the twentieth century and the beginning of the twenty-first ...
When California’s groundbreaking law raising fast-food workers’ minimum wage from $15.50 per hour to $20 took effect at the start of the month, food chains including Chipotle, Chick-Fil-A ...
Firms which experience wage compression usually value higher-skilled workers more than their lower-skilled counterparts because they have a higher level of productivity relative to their wages. Because of this, firms are less likely to make these employees redundant when costs need to be lowered and firms will prefer to keep high-skilled workers.
These so-called "learners" often earned no more than $3 or $4 a day—a small fraction of the typical wages of $7 to $12 made by semi-skilled "operators," who were generally male. [2] At the top of the garment industry hierarchy were the skilled pattern-makers and cutters, who were almost exclusively male.
Union wage premiums show the direct benefits of being a member of a union. Although the union wage premiums have fallen for private sector, it has raised for the public sector in the U.S. [6] Union wage premiums also usually raise the wages of low-skilled workers more than those of high-skilled workers. [2]
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