Workers saw 2 percent rise in wages and benefits (2010)

[Omaha Steve]

Source: AP

By MARTIN CRUTSINGER

WASHINGTON (AP) - Workers saw their wages and benefits rise slightly faster in 2010 than 2009, but the gain was still the second-lowest increase in nearly three decades.

Wages and benefits increased 2 percent last year after a 1.4 percent increase in 2009, the Labor Department reported Friday. Both years were the smallest gains on Labor Department records that go back 28 years.

The modest gains reflect a severe recession which pushed millions out of work and depressed the bargaining power of those with jobs. While weak wage gains mean low inflationary pressures, it also leaves households with less income to boost consumer spending.

Analysts believe labor costs will be constrained as long as unemployment remains elevated. The unemployment rate in December stood at 9.4 percent. Many economists believe it will still be around 9 percent a year from now.

Read more: http://apnews.excite.com/article/20110128/D9L1CRA00.html

[DJ13]

1. Some people must be getting decent raises

No one I know is, so there has to be an offset in the stats.

My wife hasnt had a raise since 2008, and neither have I.

[plumbob]

15. We took a $2000 pay cut last year to help keep the district afloat.

Last raise was $500 in 2007

[NeoConsSuck]

2. Not quite as good as the top 1%

but here's the rub: Those who got the 2% raise paid higher taxes than Mr. Paulson, who only earned 5 billion dollars last year:

http://www.bloomberg.com/news/2011-01-28/john-paulson-said-to-have-earned-5-billion-in-2010-as-hedge-funds-gained.html

[tnlurker]

3. I got a 2.3% raise in 2010

On top of a 5% reduction in pay in 2009.

[DesertFlower]

4. hubby got 1-1/2 percent only because

he's a top performer. most got nothing. the cost of health insurance and our deductibles went up.

[madrchsod]

5. the forge shop that i worked for in the 70`s is hiring one person...

the shop from 13 hammers in the 70`s to two today..31 years. the job is the same one that i did. another local metal working shop is hiring after 20 some years. that shop makes forged/hot pressed large fasteners. i actually made some parts for this company in the 70`s. overall the job market is improving here. unemployment has dropped 2% since jan. of last year.

i `m thinking a lot of contractors are rebuilding or buying new equipment do to the stimulus funding.

[LiberalEsto]

6. 2% of nothing

is still nothing.

[RedCloud]

7. Unless prices went up, then it's less than nothing.

[jwirr]

8. 2% raise is good but what was the rise in the cost of living?

[pinqy]

10. 1.5% increase n/t

[Occulus]

11. That's just pathetic. BANKS pay better interest than .5% and they're fucking misers.

:nuke:

[jwirr]

18. Well at least we are ahead.

[Mugweed]

9. One 10% cut in pay in early 2009 and then reduction to 36 hours

about 2 months after that. Interestingly enough I was promoted to the head of my department at the end of 2008 and told that they "weren't giving raises". I didn't bother to argue that an increase in salary due to a promotion and change in position is not a raise; I was making decent money and thought I could make it back in performance raises. A month later my pay was cut by 10%, 2 months after that we were restricted to 36 hours per week (another 10% cut). In the meantime half my staff was laid off and the work was redistributed to the rest of us. My company is doing quite well at the moment, capitalizing on stimulus jobs. It's just that none of the actual technical or professional staff are benefiting. I asked for a small raise this year for my senior technician who kills himself maintaining our equipment, and was turned down.

I'd get another job, but there aren't any in my profession in this area. Most of the other small companies have pretty much eliminated their environmental positions and left the work up to the mega-corps, who don't need anyone.

I really hate this period of American history.

[RobinA]

21. I'm One of Those

public employees whose mega-salary and benefits are currently wrecking the economy. At our place when they need to replace a supervisor they make someone below an "acting" supervisor. No raise for the added responsibility, plus they get to do their old job and the supervisor job. There was also the suggestion when snow came that we help out the operations people with snow removal (who do a great job) by spreading salt, etc. What, ya mean the fact that I'm doing my own office cleaning and trash removal, supply most of my own office supplies, and brought my own all-in-one printer into work so that I could have ready access to a working copier isn't enough?

[lunatica]

12. I was forced to take furlough days and getting those docked from my pay

Getting raises? What a laugh!

[xchrom]

13. 2%. kinda speaks for itself. Nt

[guitar man]

14. Going on 4 years without a raise

Did finally get a $900 performance bonus last year but it hardly makes up for 4 years of no raises. I finally threw health insurance overboard starting at the first if this year, while I wasn't getting any raises aetna certainly was :(

[tammywammy]

16. I got a 2% raise last year.

They haven't announced the percentages for this year yet.

[snot]

17. the fact is, food and energy inflation have been much higher. And I suspect

that the much-vaunted, recent increase in consumer spending is also driven mainly by inflation.

I recently noticed that the dollar-british pound exchange rate has deteriorated by nearly 9% during the last two years, which indicates that the real, general inflation rate has averaged at least 4.5% per year as against the pound, which can't have been doing all that well, either.

Considering the deflationary pressures, that's a lot of inflation.

[onehandle]

19. I remember a period when I got 4% to 7%+ raises every year, not including benefits increases.

Ended shortly after the exit of this guy:

[Donnachaidh]

20. doesn't really matter when you have to take a 25% cut to get BACK to work

And lots of folks had to do that. :shrug:

[midnight armadillo]

22. 1.25% here

The company was profitable as always, but management was very tightfisted even though my work led to a new business area being opened up