USUAL WEEKLY EARNINGS OF WAGE AND SALARY WORKERS:
FIRST QUARTER 2001
ninety ten
Median weekly earnings of the nation's 99.1 million full-time wage and
salary workers were $592 in the first quarter of 2001, the Bureau of Labor
Statistics of the U.S. Department of Labor reported today. This was 3.0
percent higher than a year earlier, compared with a gain of 3.4 percent in
the Consumer Price Index for All Urban Consumers (CPI-U) over the same
period.
Full-time workers age 25 and over without a high school diploma had
median weekly earnings of $371, compared with $513 for high school grad-
uates (no college) and $922 for college graduates. Among college graduates
with advanced degrees (professional or master's degree and above), the highest
-earning 10 percent of male workers made $2,434 or more per week, compared
with $1,663 or more for their female counterparts. (See table 4.)
NAPM comments
While it does show is that perhaps we've reached a bottom in manufacturing, obviously there's still long way to go before the nation's factories get up and running at full strength,'' said Kevin Flanagan, fixed-income strategist at Morgan Stanley.
Fed Stats rebuttal
In March 2001, manufacturing industries accounted for 43 percent of all
mass layoff events and 51 percent of all initial claims filed. A year
earlier, layoffs in manufacturing accounted for 33 percent of events and 35
percent of initial claims. Manufacturing industries with the highest
number of initial claimants were transportation equipment (15,216), mostly
in motor vehicles and car bodies and in motor vehicle parts and accessories,
and electronic and other electrical equipment (14,473), largely in printed
circuit boards and in semiconductors. (See table 2.)
Temp jobs are decreasing
In the service-producing sector, services employment was little changed
in March. Job gains in health services (26,000), social services (15,000),
computer services (11,000), and several other industries were largely
offset by a sharp decline in help supply services (83,000). Employment
in help supply, which primarily provides temporary workers to other
businesses, has declined for 6 consecutive months, losing 273,000 jobs
over the period.
T is raising the cost of broadband, electrical rates are rising, it appears housing is not decreasing in price. CPI is outpacing wages that can't continue either wages catch up or more outsourcing comes in.
A couple of years ago GE T Cisco Oracle were the biggest producers of income T has done very well in the debt area this year.
The money goes more into final prices than it goes into production.
True
Kind of interesting fact there has been a decrease in the full time two jobs for one person, this year. Maybe it is due to exhaustion of sixteen hour days. Perhaps they will be requesting higher pay or workmans comp due to stress.
too many dollars and too little buying power. |
