Compiled by the Bureau of Labor Statistics, the ECI usually gets little attention from the general media. Here's why it's a statistic worth tracking: Its current tiny increases are helping keep inflation in check and allowing the Fed to stick to its stimulative policies.
As part of its efforts to reduce its labor costs, Walmart plans to stop paying its staff an extra $1 an hour for working Sundays starting in 2011, according to Bloomberg. The move won't affect the retailer's 1.4 million current U.S. employees, only those hired after Jan. 1.
Low pay, lack of benefits and other issues drove Ayo Collins and three other Jimmy John's workers to enlist the aid of the Chicago-based Industrial Workers of the World to help organize 10 targeted Minneapolis stores. The effort fell short, by a vote of 87 to 85.
Besides the unemployed, nobody is getting hurt worse in this economy than seniors. Prices on many commodities are skyrocketing, but the Consumer Price Index, which is the yardstick used to adjust Social Security for inflation, is virtually unchanged.
Americans are far from feeling confident about paying for retirement, according to the Employee Benefit Research Institute's latest annual survey. Yet one group that is feeling a little more self-assured, is men. That may seem like a good thing, but being too confident or cautious about your investments can backfire.
