Word: nonfarmers
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...minimum standard deduction, or low-income allowance, from $1,300 to $1,900 for single persons and to $2,500 for couples filing jointly. Along with the $750 personal exemption, the new minimums eliminate federal taxes for almost everybody below the official poverty line of $4,540 for a nonfarm family of four. In addition, the maximum standard deduction was raised to $2,500 for individuals and $3,000 for couples, and a 5% refundable tax credit was provided for low-income individuals...
...blame the American worker for demanding more? In the private, nonfarm sector, his real hourly compensation has been declining for more than 15 months-and he has to get off the treadmill some time...
Administration inflation fighters worry most that while wages are rising, productivity in the private nonfarm sector of the economy is declining. It went down at an annual rate of more than 5% in the first quarter and almost 3% in the second quarter. As a result, the so-called unit labor costs-that is, the cost of labor to produce a given quantity of goods-has jumped at an annual rate of 14% this year. This, of course, will further fuel inflation, which in turn will fire the workers' frustrations...
...twelve months through April, average hourly wages of U.S. private nonfarm workers rose a mere 6.3%, trailing far behind a 10% rise in consumer prices. But in May, the first month after the death of wage-price controls, workers' wages rose at a stunning annual rate of 19.1%. Though that probably was a statistical fluke, Otto Eckstein, a member of TIME'S Board of Economists, calculates that wages and benefits for the current quarter will go up at an annual rate of 9.2%, and that the rate will rise, to 9.8% in the fourth quarter. Experts...
...first quarter of 1974 it fell at an annual rate of 5.6%. That is a longer and deeper drop in purchasing power than occurred during any of the five recognized U.S. postwar recessions. Unfortunately, employers cannot absorb outsized wage increases through higher productivity. Output per man-hour of the nonfarm work force actually dropped at an annual rate of 3.5% in the first quarter. Thus a wage explosion will only force more of the price increases that have made past pay rises meaningless...