white collar sweatshop the world of work in the 21st century
TRANSCRIPT
White Collar Sweatshop
The World of Work in the 21st Century
The World of Work in the 21st Century
Coming UpComing Up
White Collar Working Conditions
Issues of race/ethnic inequality in the US
White Collar Working Conditions
Issues of race/ethnic inequality in the US
Good NewsGood News
“the deficit will decline to $172 billion this year, from $248 billion in the past fiscal year”
New York Times “Congressional Office Forecasts Drop in Deficit, With Possibility of a Later Surplus” January 25, 2007
“in recent years, … economic profits as a share of GDP climbed to a 40-year peak in 2006”
Congressional Budget Office - “The Budget and Economic Outlook: Fiscal Years 2008 to 2017”
“the deficit will decline to $172 billion this year, from $248 billion in the past fiscal year”
New York Times “Congressional Office Forecasts Drop in Deficit, With Possibility of a Later Surplus” January 25, 2007
“in recent years, … economic profits as a share of GDP climbed to a 40-year peak in 2006”
Congressional Budget Office - “The Budget and Economic Outlook: Fiscal Years 2008 to 2017”
Bad NewsBad News
“Labor’s share of GDP during 2006 was … significantly below the postwar average.”
“Wages and salaries is the single most important category of income for projecting revenues, making up the largest part of the income base that is used to project individual income taxes and to estimate payroll taxes.”
“Labor’s share of GDP during 2006 was … significantly below the postwar average.”
“Wages and salaries is the single most important category of income for projecting revenues, making up the largest part of the income base that is used to project individual income taxes and to estimate payroll taxes.”
What is included?What is included?
Labor income consists of the total compensation that employers pay their employees the sum of wages and salaries supplemental benefits
the employer’s share of health and other insurance premiums
The employer’s contribution to pension funds The employer’s share of payroll taxes (for Social
Security and Medicare)
Labor income consists of the total compensation that employers pay their employees the sum of wages and salaries supplemental benefits
the employer’s share of health and other insurance premiums
The employer’s contribution to pension funds The employer’s share of payroll taxes (for Social
Security and Medicare)
Don’t Count on It!Don’t Count on It!
CBO (Congressional Budget Office) assumes that the share of GDP that comes from wages and salaries will increase over the next few years, largely because the low unemployment rate should put upward pressure on wages.
CBO (Congressional Budget Office) assumes that the share of GDP that comes from wages and salaries will increase over the next few years, largely because the low unemployment rate should put upward pressure on wages.
White Collar SweatshopWhite Collar Sweatshop
Service Jobs
Job Spill
Declining Benefits
Job Insecurity
Service Jobs
Job Spill
Declining Benefits
Job Insecurity
Job SpillJob Spill
Workers are working longer hours 12% work 49-59 hours a week 8.5% work 60 or more hours a week
Work follows people home
Technology chains workers to the job
Workers are working longer hours 12% work 49-59 hours a week 8.5% work 60 or more hours a week
Work follows people home
Technology chains workers to the job
Declining BenefitsDeclining Benefits
Health care
Pensions Revlon shut down the pension plan
and took $100 million “surplus assets” from employees
Health care
Pensions Revlon shut down the pension plan
and took $100 million “surplus assets” from employees
Job InsecurityJob Insecurity
End of lifetime employment
Contingent workers
Mergers/Downsizing
End of lifetime employment
Contingent workers
Mergers/Downsizing
Good for the Company?Good for the Company?
The stock of banks undergoing mergers underperform the rest of the banking industry 82% of the time
65-75% of mergers in the 1980’s were financial failures
The stock of banks undergoing mergers underperform the rest of the banking industry 82% of the time
65-75% of mergers in the 1980’s were financial failures
WalmartWalmart What are the impacts on the local stores and
community?
What are the conditions for US workers – wages, health care, hours/overtime?
What does Walmart suggest for its employees to deal with the lack of money to cover food or health care?
What is Walmart’s response to unionization to deal with working conditions?
What are the impacts on the local stores and community?
What are the conditions for US workers – wages, health care, hours/overtime?
What does Walmart suggest for its employees to deal with the lack of money to cover food or health care?
What is Walmart’s response to unionization to deal with working conditions?
WalmartWalmart How does Walmart treat women?
What about the treatment of minorities?
What are the environmental problems created by Walmart?
What are the conditions for workers in other countries?
What is the role of Walmart in covering up safety issues on their property?
How does Walmart treat women?
What about the treatment of minorities?
What are the environmental problems created by Walmart?
What are the conditions for workers in other countries?
What is the role of Walmart in covering up safety issues on their property?