Word: wage
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Still, serving lattes for minimum wage plus tips is a painful prospect to the average college student, who graduates with $21,000 in the red. Tuition costs could also explain why graduate schools, traditionally a refuge in tough economic times, have seen uneven application numbers this year. Lance Choy, director of the career development center at Stanford, notes that grad schools were a popular backup a few years ago during the dotcom bust, but applications are flat this year. "Who needs more debt when the job market is looking rather grim?" he says. (Read "Finding a Dream Job: A Little...
...such policy is the Wage and Benefit Parity Policy that guarantees outsourced workers the same compensation and treatment as those employees hired directly by Harvard. The policy purports that outsourcing is used “to increase quality and spark innovation, not to adversely affect the wages and benefits of Harvard’s own service employees.” Despite Harvard’s reluctance to hire in-house, the Parity Policy has been an important and laudable effort by Harvard to express its commitment to workers’ rights for all employees on campus regardless of who signs...
...income in the U.S. hovers around $50,000.) Every member of the President's task force - from Biden ($227,000) to Council of Economic Advisors Chairwoman Christina Romer ($172,000) to Energy Secretary Steven Chu ($191,000) - makes well over $150,000, putting them in the top 5% of wage earners. (See pictures of crime in Middle America...
...union has already made big concessions. The 2007 labor contract with GM transferred health-care costs from the company to a union-run plan and set up a lower wage structure for new hires. The company is asking for more because it has no other choice given the devastating drop in sales...
Vice President Biden attempted to define middle-class Americans as people who would find it difficult to miss more than two paychecks, and he wasn't far off; with wage increases failing to keep pace with inflation, about 21% of middle-class Americans have spent themselves to the limit. Personal bankruptcies rose by a third last year and mortgage defaults - well, they're moving beyond subprime borrowers and hitting those with previously high credit scores. On Feb. 27, Biden and eight members of his task force, including Education Secretary Arne Duncan and Energy Secretary Steven Chu, will meet...