So you think that Union labor controls the economy.It is not labor but greed.
It is about Greed,....... Greed of the ceo's,Greed of the U.S. Politicians.
If China's wages rise 8% annually for the next five years, says a Boston Consulting Group study, the average factory hand will still earn just $1.30 an hour by then.
Wage gap closing . . . very slowly All U.S. workers need to do is be patient, and soon the wage gap that has sent so many U.S. jobs overseas to low-cost countries such China and India will be gone.
Yep, if U.S. workers -- or their children -- just wait a little while longer, then after a mere 32 more years of 10% raises, a Chinese worker making $100 a month -- well above the current official minimum wage of $87 a month, I admit -- will have closed the wage gap now separating the Chinese worker from the U.S. worker making $2,000 a month.
That assumes, of course, that the U.S. worker will not have received a single raise in those 32 years. If the U.S. worker has averaged even a
3.5% annual raise, the Chinese worker will need 50 years to close the wage gapMillwright Ron