Word: laborer
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...doctorate, joined Findus and was soon posted to Chile. President Salvador Allende was then in power trying to implement his "Chilean road to socialism," and Brabeck recalls spending much of his time trying to dissuade government officials from nationalizing milk production. He also had to deal with militant labor officials on the factory floor who could bring operations to a standstill...
There's no doubt, though, that the government helps keep labor costs in line, in part through intimidation. There has never been a strike at SIA. In 1980, when pilots complained about pay, the country's Prime Minister threatened to fire every pilot and ground the airline, and the pilots' union was fined and shut down. A new union was formed a few months later. Today a 747 captain with 10 years' experience makes about $118,000 a year at SIA, compared with about $258,000 at a U.S. carrier. After the 9/11 attacks, the airline cut management salaries...
...growing at about 8% to 9% a year. Japan, he pointed out, averaged a growth rate of about 10% for 25 years during its big developmental leap starting in the 1950s. China's inflation is relatively low, and a huge surplus of workers in China keeps the labor market humming--and cheap. The starting salary of an average Chinese college graduate today is one-third lower than it was three years ago, Fang said, and 30% or more of graduates can't find jobs despite the 9.1% growth rate. "Wage pressure is nowhere to be seen," he said...
...French economist, like Fang, warned against excessive focus on currency. Governments, particularly in France and Germany, need to continue reforming their economies to boost productivity, reduce the relatively high cost of labor and find better investment uses for a huge pool of savings that is sitting in bank accounts that yield very low returns. France's savings rate is higher even than Japan's. "The strength of the euro highlights European structural problems; it doesn't cause them," Blanque said...
...national and regional train service, while cities like Paris anticipate almost no municipal transport at all. It probably won't stop there either. Unions at state rail company SNCF expect a probable extension of Wednesday's stoppages to seriously disrupt transportation through the weekend - and perhaps beyond: Labor leaders may seek to bridge their movement to link up with next week's demonstrations by civil service employees protesting nearly 23,000 job cuts in the public sector planned for 2008. The logic behind such a move would be to attain and increase critical mass opposing Sarkozy's policies. French college...