BOT will like this one

[TOVisitor]

It seems that the Bureau of Labor Statistics is about to make some changes to the data that it does and does not collect.

Better that you not know

The Bureau of Labor Statistics is probably not on your regular internet browsing schedule. Though it is worth a look now and then for the comprehensive data it collects and makes available free of charge to anyone. You can even construct your own charts.

But the BLS has decided that there are things it is better that we not know. It has announced plans to stop collecting some data and start collecting other data. Do you agree with the BLS that this is information too unimportant to have? Read on to decide.

Planned Changes to the Current Employment Survey

Here are the planned changes, all of which the BLS says are improvements.

BLS plans to discontinue collecting data on:

1. what women workers are paid, because, it says, there is little interest in this issue.

2. what hours "Production or nonsupervisory worker" work and what they are paid.

BLS also says it needs to stop collecting this data so it has the money to collect other data. Here are the new data it intends to collect:

1. New data on the hours and regular earnings of all employees. All means that the data will include data from the most highly paid CEOs.

2. New data on total earnings - both regular and irregular pay - for all employees.

If you look at this report, you will see why this is a problem. The report focuses on average earnings and uses them to assess how the economy is doing:

August 2004 Summary of Earnings for 2004-03
"Earnings averaged $17.75 per hour in July 2003 for private industry and State and local government workers in the United States."

But if it adds to the average the pay of CEO's, we will all look very rich even though we get no pay raises. Here is a list of CEO's and their pay. Yahoo's Terry S. Semel was paid $109,301,385 in 2004. Using a 50 week year at 40 hours a week, Terry's hourly payrate was: $5465.07. Add in a few CEO's and you have a very different picture of how the average US worker is faring.

The second part of the new statistics will include bonuses and other pay in addition to regular salary. Bonuses and other pay don't make much different for most workers. But the are an enormous part of what CEO's and highly paid executives make a year. This will further inflate and distort the reality of what at least 80% of the US workforce is paid.

http://www.unbossed.com/index.php?itemid=214
[/B]

Puts a smile on BOT's face.

 

[frasier]

What is wrong with a company paying their CEO in what they think they are worth? What does it matter to you?
It is not your money that is been given away...don't like the company? Make sure you don't buy their products or make them part of your mutual fund..

 

[onthebottom]

I have 11 people who work for me (2 are managers), their compensation is 40% bonus. Would you not have that counted? Silly really. Those of us who are required to deliver value often have a substantial portion of our income contingent upon performance.

OTB

 

[frasier]

I have 11 people who work for me (2 are managers), their compensation is 40% bonus. Would you not have that counted? Silly really. Those of us who are required to deliver value often have a substantial portion of our income contingent upon performance.

OTB

Unlike goverment workers who get compensated regardless of performance...it is called automatic adjustment for inflation...

 

[LancsLad]

Unlike goverment workers who get compensated regardless of performance...it is called automatic adjustment for inflation...

I agree , but please do not use the words "government" and "workers" in the same sentence.

 

[frasier]

I agree , but please do not use the words "government" and "workers" in the same sentence.

Sorry for the faux pas.....or would it be an oxymoron?

 

[LancsLad]

Sorry for the faux pas.....or would it be an oxymoron?

I'll go with oxymoron as those other words don't seem to be in my vocabulary.

 

[TOVisitor]

What is wrong with a company paying their CEO in what they think they are worth? What does it matter to you?
It is not your money that is been given away...don't like the company? Make sure you don't buy their products or make them part of your mutual fund..

You remind me of the old SNL character, Emily Litella, "What's this I hear about Soviet jewelry? They make fine jewelry." Uh, Emily, "It's Soviet Jewry." Emily: "Oh? Never mind."

Did I say that I had a problem with a company paying its CEO anything?

What I said is that the BLS will now be averaging people who make $25/hour with people who make, say, $5,000 per hour, thus distorting what an average worker makes and hence enabling people like BOT to crow about what a great economy it is.

If Bill Gates walks into a room of McDonald's workers, the average wage per hour goes up astronomically. Looking at an average, thus is meaningless.

Meaningless. Kind of like your retort.

 

[onthebottom]

I agree , but please do not use the words "government" and "workers" in the same sentence.

Now that's funny.

I can still remember those Fed Ex commercials showing two USPS workers calculation how long they have until retirement while everyone waits in line.

OTB

 

[onthebottom]

You remind me of the old SNL character, Emily Litella, "What's this I hear about Soviet jewelry? They make fine jewelry." Uh, Emily, "It's Soviet Jewry." Emily: "Oh? Never mind."

Did I say that I had a problem with a company paying its CEO anything?

What I said is that the BLS will now be averaging people who make $25/hour with people who make, say, $5,000 per hour, thus distorting what an average worker makes and hence enabling people like BOT to crow about what a great economy it is.

If Bill Gates walks into a room of McDonald's workers, the average wage per hour goes up astronomically. Looking at an average, thus is meaningless.

Meaningless. Kind of like your retort.

It's important to understand the distribution of income and all income. You also can't compare a retired couple living on 3m in savings (but with very little income) with a family of 4 with two working parents. Age, stage of life, region all play a part. Making 100k in Ohio is different than 100k in San Fran.

You certainly can't just ignore bonuses - the fact that you tied those to high CEO pay shows how out of touch you are with how people in this economy get paid.

OTB

 

[frasier]

You remind me of the old SNL character, Emily Litella, "What's this I hear about Soviet jewelry? They make fine jewelry." Uh, Emily, "It's Soviet Jewry." Emily: "Oh? Never mind."

Did I say that I had a problem with a company paying its CEO anything?

What I said is that the BLS will now be averaging people who make $25/hour with people who make, say, $5,000 per hour, thus distorting what an average worker makes and hence enabling people like BOT to crow about what a great economy it is.

If Bill Gates walks into a room of McDonald's workers, the average wage per hour goes up astronomically. Looking at an average, thus is meaningless.

Meaningless. Kind of like your retort.

You need to get past your puberty for one..take of the pink glasses put away "Das Kapital" and take a visit in to the former Eastern Bloc countries. Talk to some people about their feelings on Russia.....you might learn something that you won't find in your textbooks...then come back and then we can talk about the virtues of socialism..until then your experience is limited to some structure of the mind created behind a desk...about as far away from reality then the Milkyway...

I know you are trying to reflect the salary issue, but I can read between the lines..your rants are pure jealousy born out of...well you can fill in the blank..

 

[TOVisitor]

You need to get past your puberty for one..take of the pink glasses put away "Das Kapital" and take a visit in to the former Eastern Bloc countries. Talk to some people about their feelings on Russia.....you might learn something that you won't find in your textbooks...then come back and then we can talk about the virtues of socialism..until then your experience is limited to some structure of the mind created behind a desk...about as far away from reality then the Milkyway...

I know you are trying to reflect the salary issue, but I can read between the lines..your rants are pure jealousy born out of...well you can fill in the blank..

Oh, I get it.

Don't spend any time reflecting on the fact that you were dead wrong.

Just attack and call me a communist.

You really are a caricature.

You can read between the lines? How about, "You're projecting."

Oh, BTW, I have been to the former Eastern bloc countries. Several of them. Several times.

 

[TOVisitor]

It's important to understand the distribution of income and all income. You also can't compare a retired couple living on 3m in savings (but with very little income) with a family of 4 with two working parents. Age, stage of life, region all play a part. Making 100k in Ohio is different than 100k in San Fran.

You certainly can't just ignore bonuses - the fact that you tied those to high CEO pay shows how out of touch you are with how people in this economy get paid.

OTB

Of course it is important to understand the entire income spectrum.

What the original post was about -- which you did not respond to -- are the facts that:

a) Plenty of people care how much women make
b) Plenty of people care how about the hours worked and pay of non-supervisory employees
c) Averaging the pay of the highest paid with the lowest -- especially when the ratio is over 400-1 -- will distort measures of economic progress.

Doing this is just more BS by the right wing to cover up the screw-ups of their economic policies.

 

[TOVisitor]

Bush's great economic performance? Seems like you are in the minority -- again.

GALLUP: 7 in 10 Americans Say Economy Is 'Getting Worse'
By E&P Staff
Published: June 19, 2007 11:40 AM ET
http://www.editorandpublisher.com/eandp/news/article_display.jsp?vnu_content_id=1003600551&imw=Y

NEW YORK A new Gallup Poll will only reinforce those who claim that while the rich get richer most Americans don't feel they are sharing in the growth in our economy. The stock market may be climbing and the unemployment remains relatively low, but 7 in 10 Americans believe the economy is getting worse -- the most negative reading in nearly six years.

Only one in three Americans rate the economy today as either excellent or good, while the percentage saying the economy is getting better fell from 28% to 23% in one month.

Gallup adds: "For the first time this year, a majority of Americans are negative about the employment market, saying it is a bad time to find a quality job."

The 70% negative rating is up 10 points since April. Also, just in the past month, there has been a significant five-point drop, from 28% to 23%, in the percentage saying conditions are getting better.

"When asked about the most pressing financial problems their family faces today, Americans mention healthcare costs, lack of money or low wages, and oil and gas prices," Gallup reports. "Healthcare costs are mentioned by 16% of Americans while 13% say low wages and 11% say oil and gas prices. These percentages are virtually unchanged from last month."

The survey of 1,007 adults was taken June 11 to 14.

One in three say the economy is excellent or good and just 23% say the economy is getting better.

Must feel good to be in such rare company. Congratulations.

 

[frasier]

Bush's great economic performance? Seems like you are in the minority -- again.



One in three say the economy is excellent or good and just 23% say the economy is getting better.

Must feel good to be in such rare company. Congratulations.

this poll is not suprising at all, after the ethanol mess created by the politicians the consumer got hurt where it hurts most..food.
The bushel of corn is currently trading at close to $4, as you know corn is our main crop that has countless applications..example the gallon of milk is now over $4. This is a direct hit in to peoples budget..so we can do what? Become independent from oil.....so do that we burn our food?
Combine this wth the ever rising oil prices and you hit the public where it hurts most...

This will get worse...there is going to be a lot more unhappy people.

 

[TOVisitor]

Of course it is important to understand the entire income spectrum.

What the original post was about -- which you did not respond to -- are the facts that:

a) Plenty of people care how much women make
b) Plenty of people care how about the hours worked and pay of non-supervisory employees
c) Averaging the pay of the highest paid with the lowest -- especially when the ratio is over 400-1 -- will distort measures of economic progress.

Doing this is just more BS by the right wing to cover up the screw-ups of their economic policies.

Care to respond, BOT?

 

[onthebottom]

Of course it is important to understand the entire income spectrum.

What the original post was about -- which you did not respond to -- are the facts that:

a) Plenty of people care how much women make
b) Plenty of people care how about the hours worked and pay of non-supervisory employees
c) Averaging the pay of the highest paid with the lowest -- especially when the ratio is over 400-1 -- will distort measures of economic progress.

Doing this is just more BS by the right wing to cover up the screw-ups of their economic policies.

I thought they were discontinuing these stats because of low demand.....

I think you see conspiracies where there are none.

OTB

 

[frasier]

Oh, BTW, I have been to the former Eastern bloc countries. Several of them. Several times.

As a sex tourist? Taking advantage of the underclass by paying for cheap sex?

 

[WoodPeckr]

As a sex tourist? Taking advantage of the underclass by paying for cheap sex?

Talking about being a sex tourist.....
Bet you boyz, bot & you, partook of the 'ladyboyz' in the orient!.....

 

[TOVisitor]

I thought they were discontinuing these stats because of low demand.....

I think you see conspiracies where there are none.

OTB

Yeah nobody cares what women make (only have the country).

And nobody cares what non-supervisory workers make (80%).