Word: wage
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...hard by the auto industry’s collapse, is in debt by roughly half a billion dollars and is implementing a “solvency tax” on some employers to help replenish its fund. The National Employment Law Project—an advocacy group for low-wage workers—reported in late September that Massachusetts was “marginally solvent,” meaning it could pay seven to 11 months of benefits using its reserves. Massachusetts’ unemployment trust fund became insolvent during the 2003 recession, prompting the state to revamp its unemployment...
...market. In 1992, before the treaty was ratified, independent U.S. Presidential candidate Ross Perot famously warned voters to prepare for the "giant sucking sound" of jobs moving across the border to Mexico, where NAFTA would enable companies to take advantage of cheap labor. Mexico's average hourly manufacturing wage is still only about 13 percent of that of the U.S., but even with that persistent disparity, most jobs these days aren't being shipped to America's southern neighbor. Instead, they're going to China, whose explosive economic growth in recent years has posed a far more serious threat...
...joining the cartel in his late 20s because it was the best job opportunity available. "They first paid me $300 a fortnight, and then it went up to $400," he explains. "The money was deposited at the local Elektra [a chain store that provides low-cost banking]". His modest wage shows how many cartel foot soldiers such as Cobo live a world apart from the extravagant kingpins with their million-dollar mansions and fleets of luxury cars, but it was still five times the country's minimum wage. And it's the swelling of the narco armies with tens...
...True, those Asian and European firms flocked to the South to avoid Detroit's high-cost culture. But while southern auto employees extol the union-free, right-to-work rules of their states, the truth is that they might still be earning the basement-level wages of a Mississippi textile worker today if the UAW hadn't leaned on the likes of Mercedes in Washington. "Mercedes wanted a much lower pay scale when it arrived here," says Cashman, who notes that veteran southern autoworkers now earn "only fractionally less" than the average $27 an hour for Detroit workers (and often...
...became the first Latina elected to the California state senate, where she successfully pushed through legislation to increase the minimum wage from $4.25 to $5.75 an hour...