Word: medians
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Lavish as it is, the most striking thing about the Teamsters' contract is that it is not really unusual. The Labor Department calculates that wage-and-benefit settlements in this year's first quarter provided a 5.9% median yearly in crease. But a number of contracts signed in the last few weeks have increases equal to or greater than the Teamsters' 28%. Pacts negotiated recently are designed to raise wages and benefits 25% over three years for waiters in Seattle, 39% over three years for West Coast sawmill hands and a gargantuan 49% in 13 months...
...industry's strongest moneymakers. After ten months of negotiations and a 21-day strike, American capitulated last month and gave the mechanics a three-year contract with a 25.5% increase, or 8.5% a year. The settlement might not seem excessive when compared with the 7.5% median annual wage increase last year, but it was clearly inflationary...
Since 1960 rent in Cambridge have doubled. Eight year ago $80 was the median rent for a three-room apartment. Today it is $150. As the shortage grows worse and costs continue to shoot up, lower income residents are forced to leave the city. The effects of the shortage are especially severe for elderly people who live of fixed incomes...
...have to ask why this happens," he said. "Take a map of a city," Clark said, "and mark certain areas on it--areas where the unemployment rate is 50 per cent or more, where the median income is half that of the city as a whole, where the average years of education are four less than for the whole city, where the population density is 50 times greater than the city average, where the death rate is 25 per cent higher and the life expectancy is 7 years shorter than for the whole city...
Cooper said that he hopes that these students will "gain confidence" and realize that their future earning ability will easily allow them to pay off their loans. The median starting salary for '68 MBA graduates...