Search results
Results From The WOW.Com Content Network
Income inequality metrics (or income distribution metrics) are used by social scientists to measure the distribution of income, and economic inequality among the participants in a particular economy, such as that of a specific country or of the world in general. While different theories may try to explain how income inequality comes about ...
Wage compression (also known as salary compression and pay compression) [1] refers to the empirical regularity that wages for low-skilled workers and wages for high-skilled workers tend toward one another. As a result, the prevailing wage for a low-skilled worker exceeds the market-clearing wage, resulting in unemployment for low-skilled workers.
The Theory of Wages. The Theory of Wages is a book by the British economist John Hicks, published in 1932 (2nd ed., 1963). It has been described as a classic microeconomic statement of wage determination in competitive markets. It anticipates a number of developments in distribution and growth theory and remains a standard work in labour economics.
Tournament theory is an efficient way of labour compensation when quantifying output is difficult or expensive, but ranking workers is easy. It is also effective as it provides goals for workers and incentivises hard work so that they may one day attain one of the coveted positions at the top.
Salary can also be considered as the cost of hiring and keeping human resources for corporate operations, and is hence referred to as personnel expense or salary expense. In accounting, salaries are recorded in payroll accounts. [1] A salary is a fixed amount of money or compensation paid to an employee by an employer in return for work performed.
Two-tier system. A two-tier system is a type of payroll system in which one group of workers receives lower wages and/or employee benefits than another. [1] The two-tier system of wages is usually established for one of three reasons: The employer wishes to better compensate more senior and ostensibly more experienced and productive workers ...
Chart of unemployment and salary based on education attainment in 2013. The data is for persons age 25 and over. Earnings are for full-time wage and salary workers. Tertiary education (or "higher education") is required for many middle-class professions, depending on how the term middle class is to be defined. Tertiary education is rarely free ...
The lines that divide Americans by economic class have always been blurry. For many households, where they stand on the income ladder comes down to a feeling rather than numbers.