Word: wage
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Dates: during 1950-1959
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...Wages Up. In the boom's early years, profits went mainly into the pockets of owners and managers, or back into expansion. Labor docilely withheld wage demands while industry rebuilt, and heeded the argument that costs had to be kept low to compete in international markets. Now workers and salaried white collar people are sharing in the benefits of the economic "miracle." Since 1948, wages have more than doubled, but they still average only $27 per week. The traditional 48-hr, work week is gone: Germans work 45 hours, are heading toward 40. To supplement family incomes, wives often...
...Germans are car owners, and 20% of new buyers are hourly wage workers who, ten years ago, could not afford or get anything bigger than a motorbike...
...Viet Nam, Garcia discovered that in his absence Macapagal and Manahan had got together, agreed to run a coalition slate against Garcia's wallowing Nacionalista regime in the Senate elections this fall. If everything goes well, Liberal-Progressives may merge completely in a year-just in time to wage a fire-breathing presidential campaign against Garcia himself...
Laying in a heavy stock of his favorite pipe tobacco for what looked likely to be a lengthy siege, white-maned United Steelworkers' President David John McDonald last week set down his price for peace in steel: "More!" Among other things, McDonald's 171-man wage and policy committee asked for "substantial wage increases, modernized cost-of-living adjustments, a shorter work week, additional holidays, greater vacation benefits and improved supplemental unemployment benefits, insurance benefits, pensions...
...this new competition has raised the question of how the U.S. can prevent itself from being priced out of world markets. Inland Steel's Smith is not alone in asking how much longer the U.S. can afford the contrast between the $3.03 average U.S. steel wage and, according to latest available figures, the 89? average for Luxembourg, the 78? average for Belgium, the 68? average for West Germany, or the 41? for Japan. One obvious but unlikely solution is for foreign countries to raise wages faster, share more of the benefits of rising productivity with their workers...