ECONOMIC STATISTICS--NOVEMBER, 1999:









  • On Thursday, Nov. 11, 1999 the New York Times reported, citing  U. S. Bureau of Labor Statistics and  International Labor Office figures, that the hourly cost to manufacturing enterprises of one production worker, including salary, social insurance and labor taxes, varied from as high as US$28.28 in the former West Germany to just US$15.47 in Great Britain.

 

     In chart form, the breakdown was as follows:

 

COUNTRY (RANK)

 TOTAL COST

SALARY  (GROSS)

SOC. INS. & TAXES    

% OF SALARY

1-WGER.              

   $28.28

     $20.94

      $7.34                

    35.1%

2-JAPAN  

   $19.37

     $16.52

       $2.85

     17.3%

3-U. S.

   $18.24

     $14.34

       $3.90

     27.2%

4-FRANCE

   $17.97

     $12.36

       $5.61

     45.4%

5-BRITAIN

   $15.47

     $13.47

       $2.00

     14.8%

  • On Saturday, November 6, 1999 the New York Times reported that the U. S. Department of Labor had reported on Friday, November 5, 1999 that the nation's unemployment rate had dropped to 4.1% in October, 1999, and the paper said that that was the lowest rate of joblessness in almost 30 years. However, the Times added that, despite that robust employment situation, the average wages being wearned by all of those workers who held jobs at the non-supervisory level had increased by just a penny that month. Inflationary pressures have also been held in check, the Times reported. In a cautionary note, the Times said that, "the Labor Department report suggested that the economy may be slowing gradually. The nation's employers added 310,000 jobs to their payrolls in October, the most for a single month since July [1999]. But employment growth averqaged only 160,000 a month for Augst through October, down from 210,000 in the first half of the year." Also, home sales and new construction have fallen from the levels they reached in the summer months.  (SOURCE:  Report, "Jobless Rate Drops to 4.1% As Wages Rise By 1c an Hour" by Louis Uchitelle, New York Times Business Day section, Saturday, November 6, 1999, page C1).

 

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