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What is always called their "compensation" (wage workers lucky enough to have a job simply get paid) has quadrupled.
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As for the union, its contracts are frequently for workers' total compensation — wages plus benefits.
For employers, the cost of labor is total compensation — wages plus benefits.
Total employee compensation — wages plus benefits — has fared a little better.
Even so, the improved compensation — wages of $152 a month and an allowance of $59 a month — was enough to make the jobs attractive to replacement workers.
Meanwhile, growth in compensation — wages and benefits — also slowed as companies were less generous amid troubles in the economy and uncertainty about their own prospects.
Although productivity increased by 80.1 percent from 1973 to 2011, average wages rose only 4.2 percent and hourly compensation (wages plus benefits) rose only 10 percent over that time, according to government data analyzed by the Economic Policy Institute.
As the chart below shows, it's not only real wages that have lagged far behind productivity (or barely outpaced inflation), it's average compensation (wages plus benefits) as well.
It also covers organizational compensation philosophy, wage and salary programs, compensation components, compensation surveys, and more.
As labor compensation is wage multiplied by hours worked or number of people employed, it is easy to show that ULC is wage divided by labor productivity.
Cox served in the U.S. House of Representatives (1909 13) and as governor of Ohio (1913 15, 1917 21), where he introduced workmen's compensation, minimum wage, and the initiative and referendum legislation.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com