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Politics : PRESIDENT GEORGE W. BUSH
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To: Srexley who wrote (587910)7/5/2004 10:38:53 PM
From: tejek  Read Replies (1) of 769670
 
I think you are the one that needs to think 1st. Just because you are getting overtime does not mean your hourly wage changed. If you make $10 per hour, that is what you make. If you work a lot of overtime, you are still a $10 per hour worker. You just happen to work a lot of overtime (which you may or may not want to do).

Also the wages of new jobs don't go up statistically (as your post suggests) because the people that still have jobs are working more OT.

Come on tejek, thhhhinnnnk.

No, you think!

When economists are figuring out wages, overtime pay is a criterion that would not be omitted. Overtime pay is an important factor when determining the health of the economy. Overtime pay is one of the first indicators that suggest an economy is improving. Typically, employers start paying overtime first before hiring new people. Therefore, overtime pay is factored into the wage average as is the numbers of hours worked during the week.

For months now, economists have noted repeatedly that this has been a jobless recovery. Its also very clear from the chart I posted that when jobs did start to pick up, wages went down. It doesn't take a genius to figure out that the jobs being added are low paying and that's what's causing the decline in the wage averages.

And that's been the second major concern expressed by economists.....when jobs are added, they have been mostly minimum wage ones.
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