We have already discussed before that wages are something received by a worker or paid by an employer for time on the job; money received or paid usually for work by the hour, day, or week, or month; a calculation or statement of money earned for a period of time from one hour (hourly wage) up to one year (annual wages). Now let us discuss wage level.
What is a Wage Level?
The ‘wage levels’ represent the money an average worker makes in a geographic area or in his organisation. It is only an average; specific markets or firms and individual wages can vary widely from the average.
How are Wage Levels are Set?
Wage levels are calculated using position importance and skill required as criteria. Consult your trade association and accountant to learn the most current practices, cost ratios and profit margins in your business field. While there is a minimum wage set by federal law for most jobs, the actual wage paid is entirely between you and your prospective employee.
What is “Stagnated” Wage Levels?
An add to Housing Woes of Poor. The continuing stagnation of the income levels for the most disadvantaged…
The continuing stagnation of the income levels for the most disadvantaged households is causing serious housing challenges for people in the lowest 20 percent of the income scale. This is one of the findings of “The State of the Nation’s Housing 2002,” issued by the Joint Center for Housing Studies at Harvard University.
Furthermore, the current high home prices, while good for sellers, work against the lowest income households, driving up both purchase prices and rents for twenty million families. “Although the plight of renters receives much attention, the vast majority of lowest income owners also face severe housing affordability problems,” said the report. “Overall, some 8.6 million renters and 6.4 million owners in this group pay more than 30 percent of their limited incomes for housing and/or live in structurally inadequate or overcrowded homes.”
The 2002 report, based on 2000 census data, indicates a large disparity between even middle-income and high-income households. The top category has shot up from slightly below $100,000 in 1975 to just under $150,000 in 2001, while the lowest income has stayed constant at below $20,000. Incomes at the $50,000 level in 1975 have increased but lag far behind the actual dollar and percentage increases of the highest level.