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They concluded, "The official productivity estimates are biased trivially, if at all, by the absence of data on the actual hours of nonproduction and supervisory workers".
According to the latest employment report, hourly wages for non-supervisory workers rose by only 2.2% in the year to May, compared with consumer-price inflation of 2.3% in the year to April.As a gauge of overall wage pressure, the hourly wage statistics have problems (they exclude supervisory workers and benefits, for instance).
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So far this year, real wages for non-supervisory workers fell by nearly 0.5%.
Average wages for non-supervisory workers rose by 3.9% in the year to May, slower than the 4.3% increase in 2006.
In 1980 chief executives at large companies, according to Business Week's estimates, earned 45 times as much as non-supervisory workers.
The average workweek (for production or non-supervisory workers) is 34.3 hours, unchanged in April.
The difference is largely due to three things: differences in coverage the BLS covers a narrower category of workers (non-agricultural non-supervisory workers); differences in the choice of deflater (the price index used to adjust for inflation); and the inclusion of fringe benefits.
Since 2000, average weekly wages for production and non-supervisory workers have increased a paltry $11. Then there's the healthcare meltdown.
The mean weekly earnings of the nation's nearly 90 million private sector, production and non-supervisory workers increased by only 4% over the decade.
The dollar value of the average paycheck for these non-supervisory workers is $675/week, or about $35,000 per year, assuming full-year work.
Last year, on average, the top CEOs "earned" more than 350 times the wages of rank-and-file, non-supervisory workers, according to the AFL-CIO's yearly corporate pay analysis.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com