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Murrica the overworked
Old 12-06-2005, 04:45 PM   #1
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Murrica the overworked

Business Week has an interesting editorial on higher productivity being accomplished mostly on the efforts of the workers without being reflected in their paychecks.

"Yet very little of the efficiency gains is being directly passed on to workers. Since the end of 2003, average real wages have fallen by 3.2%, while productivity is up by 5.1%. Even managers -- supposedly the best-off sector of the workforce -- have seen a 4% decline in real wages since the end of 2003, despite the fact that the unemployment rate for managers is a meager 2.2%.
What's worse, Americans are working harder and harder, even as they're getting paid less and less. The November employment report, released Dec. 2, showed that 18.3% of the workforce puts in 49 hours or more per week. That's up from 17.8% a year ago."

Admittedly 0.5% is well within the error of the imprecise data collected by the Dept of Labor (heck, even 50% is within their error factor), but it paints a bleak picture.

It's almost enough to make the average Murrican stop spending & start saving. Not quite, but almost.
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Re: Murrica the overworked
Old 12-06-2005, 05:34 PM   #2
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Re: Murrica the overworked

I never noticed!
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Re: Murrica the overworked
Old 12-06-2005, 06:14 PM   #3
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Re: Murrica the overworked

Quote:
Originally Posted by Nords

What's worse, Americans are working harder and harder, even as they're getting paid less and less.
Sounds to me like good management. If I was on the board, large bonuses would be in order.

JG
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Re: Murrica the overworked
Old 12-06-2005, 06:19 PM   #4
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Re: Murrica the overworked

Well, treat me like crap, make me work more for less, etc. and you'll get what you paid for...
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Re: Murrica the overworked
Old 12-06-2005, 06:56 PM   #5
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Re: Murrica the overworked

I made the decision about 20 years ago when I was offered a promotion with some leadership responsibility that I wasn't going to sacrifice my free time and family for the job. I told my boss that and gave him the chance to look elsewhere and he still promoted me. I figured no more than 45 hours a week and no home work or weekends. If once in a while there was a fire to put out ok but not all the time. It worked till I got a new boss and was preassured for more hours and even weekend meetings. I persisted and got some mediocre reviews till I got a better boss. It probably cost me $100k over the years, but family didn't feel neglected and I saw a lot of other people burning out. Well I lasted and even cut back to where I seldom work more than 40 hours a week.

Now I'm about to jump into ER with most of my sanity. Still in talks with the boss on when it works best for him and the project. Maybe as soon as the end of the year. Now if I only had more faith that I'm also FI. The pros say yes FIRECalc says yes. I guess we will see how it goes.

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Re: Murrica the overworked
Old 12-06-2005, 06:58 PM   #6
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Re: Murrica the overworked

Quote:
Originally Posted by Eagle43
I never noticed!*
And that's why you'll probably exceed your goal of 100 yrs. old.
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Re: Murrica the overworked
Old 12-06-2005, 07:09 PM   #7
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Re: Murrica the overworked

Quote:
Originally Posted by MRGALT2U
Sounds to me like good management. If I was on the board, large bonuses would be in order.

JG
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Re: Murrica the overworked
Old 12-06-2005, 07:11 PM   #8
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Re: Murrica the overworked

Since carpooling last year, we have been arriving work at 7am and leaving at 5:30pm. That's 9.5 hours per day or 48 hours a week. Even with those hours at work, we still had to put in more hours at nights and weekends. At out last review, I received a 4% raise and my carpool parnter recevied 5%. These rates were considered generous since the average was 3%. The morale of the story is that it does not pay to work extra hours.
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