Posted on 12/27/2019 4:56:55 AM PST by karpov
Rank-and-file workers are getting bigger raises this year—at least in percentage terms—than bosses.
Wages for the typical worker—nonsupervisory employees who account for 82% of the workforce—are rising at the fastest rate in more than a decade, a sign that the labor market has tightened sufficiently to convey bigger pay increases to lower-paid employees. Gains for those workers have accelerated much of this year, a time when the unemployment rate fell to a half-century low. A short supply of workers, increased poaching and minimum-wage increases have helped those nearer to the bottom of the pay scale.
Pay for the bottom 25% of wage earners rose 4.5% in November from a year earlier, according to the Federal Reserve Bank of Atlanta. Wages for the top 25% of earners rose 2.9%. Similarly, the Atlanta Fed found wages for low-skilled workers have accelerated since early 2018, and last month matched the pace of high-skill workers for the first time since 2010.
“A strong labor market makes the bargaining power of lower-paid workers more like the labor market higher-wage workers experience during good times and bad,” Nick Bunker, economist with job search site Indeed.com, said.
Labor Department data paint a similar picture. Average hourly earnings for production and nonsupervisory workers in the private sector were up 3.7% in November from a year earlier—stronger than the 3.1% advance for all employees—Implying managers and other nonproduction workers saw a 1.6% wage increase in the past year. The department doesn’t produce separate management pay figures.
Nonsupervisory workers earned an average of $23.83 an hour in November according to the Labor Department; managers earned about twice that rate.
Mooyah Burgers, Fries & Shakes, a restaurant chain based in Plano, Texas, with 75 U.S. locations, is among the places that has lifted starting wages to fill positions.
(Excerpt) Read more at wsj.com ...
I personally SAW this, with my own eyes. In Walmart, in Oklahoma, they had stockers that looked like street people, cashiers that looked like Meth Addicts. It was evident that Walmart had to scrap the bottom of the barrel, and not be picky about finding someone cute, with experience, young etc. It is HAPPENING.
And who will lower wage workers vote for?
Joe Biden? Elizabeth Warren? Corey Booker? Bernie Sanders? Amy Klobacher?
Buahahahahhahahahahhahahahhaaa !
Watch the Bloomberg Business News Channel every 5 minutes they are ether predicting the economy will crash or reporting on how lower wage workers have not shared in the benefits of the Trump Economy.
Does that include the foolish laws foolishly raising the cost of labor in a foolish but successful attempt to secure more power and votes?
Yet President Trump will get back in.
Instead of listening to that crap why not tune into Fox Business News or since you have a computer just visit any number of sites which simply report financial news without the bias?
Can you define “poaching” in this context?
Yep. Its gong to make my year! Happy New Year to you Biggirl!
How about The Wall? Is that helping yet?
I cancelled my subscription that anti-Trump rag when Trump was running in 2016.
I got a call about 2 weeks ago asking me to look ar a job offer at a competitor. Lots good about it, even a little more money up front. Long term, I am better off where I am. A work friend received a phone call from a former colleague who asked, “what would it take for me to hire X?” The former colleague wanted a specific person for her job and hired him from a competitor. The client rep for one of my vendors moved on. His supervisor temporarily took over. The supervisor called up and hired my account executive for another vendor product.
People are calling up known entities and asking them to apply/move to their business. So long as there are no non compete clauses, there is a lot of fair game.
People keep mentioning the wall. The wall is not to stop people from getting in, it is to represent our sovereignty. There are 40 other walls up in countries around the world to conflict crime, anti-terrorism, drug smuggling, and illegal immigration.
https://en.wikipedia.org/wiki/Border_barrier
It’s like the Great Wall of China. It was built to protect China from its enemies and invaders from the North, especially the Mongols. Despite the wall, the Mongols eventually conquered China.
We live in a mechanized world now. Illegals can fly over it easily. Our wall is there to tell the people to the south that this is as far as you can go before you are trespassing and you are not supposed to be north of this. This leaves no doubt to anyone where they are and what they hare doing wrong. It is not to physically stop them. It can only cut down the numbers by making it harder to go north. It’s a figure head, not a cop. And it’s doing fine at the moment getting the point across.
But previous administrations and states lack of over site, intentional or not, has “opened the borders” so much that people now travel in mass to try to get in as they are misinformed about how they can succeed in our economy and are walking right through a country that has an amnesty program, Mexico, to get here. It has nothing to do with amnesty or immigration. It has to do with financial success and the future of their family’s wealth, not subsistence. And in a vast majority of cases, it damns the illegals to failure and the need to violate our laws further just to stay alive.
rwood
Nobody from Latin America doesn’t know full well they’re entering the country illegally when they do.
If the wall has no effect in stopping the influx of cheap, low-skill laborers (and moochers), it is not of practical use.
And unfortunately they are not misinformed, they are all too well informed by those who are subverting our country.
But where do you get all this “represent our sovereignty” as opposed to stopping people from getting in BS? Clearly it is nothing Trump has offered as a rationale.
It can’t stop everything, because much smuggling occurs at border crossings where among other problems there are corrupt border guards letting people through in exchange for payoffs. But it is a necessary start.
The headline says it all...That's the way it's supposed to work...
Retirees are taking the shaft economically. On fixed incomes, with the raises and price increases around us, we are the losing same percentage other USA demographics are gaining. ...and it is ”crickets” from politicians and the news media. The USA is rocketing forward economically, but those in the launchpad just get burned and left behind.
I do watch Fox - but once in a while I tune in Bloomberg to get the Communist slant on the economy. I change the channel after a few minutes - the far left wing reporters are complete lunatics.
I realize there is a benefit to knowing the enemy but after a while you know them well enough and further exposure simply brings aggravation with no attending benefit.
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