Word: wage
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Dates: during 1950-1959
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...Economy. The nation's minimum wage was raised from 75? to $1. The debt limit was set at $281 billion for another year...
...Passed, after a long and lackluster debate, a bill raising the U.S. minimum wage from 75? to $1. The 362-54 vote came over Administration objections that a minimum wage of more than 90? would work a hardship on some small businessmen with narrow profit margins. If signed by the President, the bill (already approved in much the same form by the Senate) may give pay raises to some 2,000,000 workers...
Business Career: Joined Eastman Kodak Co. in 1914, became a special assistant to President George Eastman in 1921, rose to treasurer in 1935, director in 1947. As Eastman's assistant, he began working on private-enterprise social security before 1929, started a "guaranteed annual wage" plan 25 years before Ford and General Motors did. He worked out a retirement plan for Kodak in 1928, an unemployment benefit plan in 1930, which included 13 other Rochester companies, became famous as the Rochester Unemployment Benefit Plan. It called for payment of 60% of salary to unemployed workers for thirteen weeks...
...Detroit, automen estimated that the General Motors and Ford wage increases, together with the higher steel price and an expected increase in the prices of parts, may add an average $100 to the list price...
...general price index has declined 5.6%, partly be cause of lower food costs and partly be cause of improved manufacturing meth ods which cut retail price tags. Said Moreell: "We have had a stable price level for the past two years ... Of it self, the wage settlement was neither inflationary nor deflationary. Improvements in methods may very well overbalance the costs of the wage increase. We call it improvement in production procedure . . . I happen to believe that steel is a hell of a bargain at the present price, and it need not affect the cost of living, though...