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Thus higher wages paid in the union sector makes it seem like there is a rationing of union jobs and that the average worker would rather work a union job than a non-union job. [ 4 ] Others attribute changes in this premium to changes in business cycles (for example should the unemployment rate go up, it would raise the premium or if the ...
Federal rates are calculated based on regulations established by the US Department of Labor.According to Code of Federal Regulations, "The prevailing wage shall be the wage paid to the majority (more than 50 percent) of the laborers or mechanics in the classification on similar projects in the area during the period in question.
In labor economics, an efficiency wage is a wage paid in excess of the market-clearing wage to increase the labor productivity of workers. [1] Specifically, it points to the incentive for managers to pay their employees more than the market-clearing wage to increase their productivity or to reduce the costs associated with employee turnover.
Compensation can be fixed and/or variable, and is often both. Variable pay is based on the performance of the employee. Commissions, incentives, and bonuses are forms of variable pay. [2] Benefits can also be divided into company-paid and employee-paid. Some, such as holiday pay, vacation pay, etc., are usually paid for by the firm. Others are ...
Most employees are entitled to be paid overtime for any hours worked over 40 in one week (and no, your employer can't average two or more weeks together). Unless you work for a tiny and purely ...
Under the heading "Maximum hours", §207 states that time and a half pay must be given to employees working more than 40 hours in a week. [116] It does not, however, set an actual limit, and there are at least 30 exceptions for categories of employee which do not receive overtime pay. [147]
Intra-industry trade is difficult to measure statistically because regarding products or industries as "the same" is partly a matter of definition and classification. For a very simple example, it could be argued that although a BMW and a Ford are both motor cars, and although a Budweiser and a Heineken are both beers, they are really all ...
The Law 2000–37 on working time reduction is also referred to as the Aubry Law, according to the name of the Labor Minister at that time. Employees may (and do) work more than 35 hours a week, yet in this case firms must pay them overtime bonuses. If the bonus is determined through collective negotiations, it cannot be lower than 10%.