Word: medians
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Dates: during 2000-2009
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...Median net worth of someone born between 1957 and 1964 who grew up as an only child...
...reform would have an impact on premiums. In reality, that has not been the case," says Martin Weiss, chairman of Weiss Ratings, an independent insurance-rating agency in Palm Beach Gardens, Fla. In a study published this week, Weiss Ratings found that in states without caps on noneconomic damages, median annual premiums for standard medical-malpractice coverage rose 36% between 1991 and 2002. But in states with caps, premiums rose even more--48%. In the two groups of states, median 2002 premiums were about the same. Weiss found nine states with flat or declining premiums; two of them had caps...
...cycles of low rates, squeezed profits and price hikes in the mid-1970s and again in the mid-'80s. Zuk, who enrolled in law school in the '70s just to learn torts, says ballooning malpractice claims make the current crisis worse than previous ones. From 1997 to 2001, the median malpractice jury award doubled, to $1 million, but that counts results only in the 1% of lawsuits that are won by plaintiffs. The number of malpractice suits has remained stable, and although some states have seen sharp jumps, the average claim payment has grown about 8% a year, close...
...about twice the duration of the typical severance package. According to outplacement firm Challenger, Gray & Christmas, 17% of those who do find work--nearly double the historical percentage--are settling for less pay. The net result of the various pressures on pay: in the first three months of 2003, median weekly earnings adjusted for inflation fell 1.5%, according to the U.S. Labor Department. That's the biggest drop since 1991, according to Jared Bernstein, an economist at the Economic Policy Institute, a research group based in Washington. Wage erosion partly explains why the Federal Reserve Board openly frets about...
...Major League Baseball, the median player salary is down 10% this season. Pitcher Kenny Rogers declined a two-year, $10 million offer from the Texas Rangers, thinking his 3.84 earned-run average would attract a better deal. Instead, he's pitching for the Minnesota Twins on a one-year, $2 million contract. "We're competing for a stretched entertainment dollar," says Cleveland Indians general manager Mark Shapiro, whose payroll is down 44% from...