With Health Care Costs Soaring, Employers Can't Afford To Hire
Investor's Business Daily, by David Saito-Chung
biz.yahoo.com
In Elgin, Ill., a factory town of 85,000 west of Chicago, Middleby Corp. is performing a small miracle. The maker of ovens and toasters for the restaurant industry is a rare breed of U.S. manufacturer. Of its five factories, four are in the U.S. Despite low-cost competition and rocketing labor costs, Middleby is thriving..... As sales continue to grow, however, Middleby has all but avoided expanding its payroll. Why? ...labor costs are rising faster than inflation. In 2003, total compensation costs rose 3.9% from year-ago levels. Consumer prices, meanwhile, increased 2.3%. |
