Word: wage
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Dates: during 1950-1959
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Standard has kept production high and costs down with the help of an incentive payment plan. The company, which pays its 12,000 workers a good (for England) minimum weekly wage ($14 for men, $10.50 for women), provides increases for any group of workers which lowers the man-hour cost per unit. Says he: "If all British industries would adopt such an incentive scheme, we'd clear up our economic troubles overnight...
...figuring it out: "Start with Parade's documented total of regular weekly readers (12,892,000), multiply by 3.2, the corrected coefficient of friction (always present in American homes), multiply that by 3.49 for expansion (especially in hot and humid weather), multiply this by 5.11, the number of wage earners per family, add 58.9% to give a 'guns-and-butter' ratio for 1953 in terms of 1939 dollars, subtract 101, the approximate number of newspaper readers who 'never look at pictures.'" Grand total: 1,168,806,315, "the exact figure we had in mind...
...rich A.F.L. Meat Cutters and the C.I.O. Packinghouse Workers are getting ready to sign a "no raid" agreement calling for joint negotiations with the nation's meat packers. For the packers, long accustomed to trimming down the unions' wage and welfare demands by playing one off against the other, it will mean tougher bargaining...
Prices, which have been relatively stable for months, last week started to climb again. Steelmakers, as expected, raised their prices about $4 a ton to pay for their latest wage boost. Their biggest customers, the automakers, said they would absorb the increase. But General Electric announced that it would boost the prices of many of its appliances, and others were thinking of following suit...
...economy was freed of wage & price controls...