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Usual Weekly Earnings of Wage and Salary Workers

The Free Press WV

Median weekly earnings of the nation’s 117.2 million full-time wage and salary workers were $887 in the third quarter of 2018 (not seasonally adjusted), the U.S. Bureau of Labor Statistics reported. This was 3.3 percent higher than a year earlier, compared with a gain of 2.6 percent in the Consumer Price Index for All Urban Consumers (CPI-U) over the same period.

Data on usual weekly earnings are collected as part of the Current Population Survey, a nationwide sample survey of households in which respondents are asked, among other things, how much each wage and salary worker usually earns. (See the Technical Note in this news release.) Data shown in this news release are not seasonally adjusted
unless otherwise specified.


Highlights from the third-quarter data:

  —Median weekly earnings of full-time workers were $887 in the third quarter of 2018. Women had median weekly earnings of $796, or 81.8 percent of the $973 median for men.

  —The women’s-to-men’s earnings ratio varied by race and ethnicity. White women earned 82.2 percent as much as their male counterparts, compared with Black women (86.9 percent), Asian women (77.1 percent), and Hispanic women (86.0 percent).

  —Among the major race and ethnicity groups, median weekly earnings of Blacks ($686) and Hispanics ($689) working at full-time jobs were lower than those of Whites ($915) and Asians ($1,128). By sex, median weekly earnings for Black men were $726, or 72.3 percent of the median for White men ($1,004).Median earnings for Hispanic men were $722, or 71.9 percent of the median for White men. The difference was less among women, as Black women’s median earnings were $631, or 76.5 percent of those for White women ($825), and earnings for Hispanic women were $621, or 75.3 percent of those for White women. Asian men and women earned more than their White counterparts.

  —By age, median weekly earnings were highest for men ages 35 to 64: weekly earnings were $1,110 for men ages 35 to 44, $1,152 for men ages 45 to 54, and $1,116 for men ages 55 to 64. Usual weekly earnings were highest for women ages 35 to 54: median weekly earnings were $882 for women ages 35 to 44 and $892 for women ages 45 to 54. Men and women ages 16 to 24 had the lowest median weekly earnings, $575 and $515, respectively.

  —Among the major occupational groups, persons employed full time in management, professional, and related occupations had the highest median weekly earnings—$1,460 for men and $1,084 for women. Men and women employed in service jobs earned the least, $642 and $514, respectively.

  —By educational attainment, full-time workers age 25 and over without a high school diploma had median weekly earnings of $556, compared with $736 for high school graduates (no college) and $1,338 for those holding at least a bachelor’s degree. Among college graduates with advanced degrees (master’s, professional, and doctoral degrees), the highest earning 10 percent of male workers made $3,922 or more per week, compared with $2,789 or more for their female counterparts.

  —Seasonally adjusted median weekly earnings were $893 in the third quarter of 2018, up from the previous quarter ($879).

Companies Fined $7M for Faking Pet Food Ingredients

The Free Press WV

A federal judge in St. Louis has ordered two companies to pay a combined $7 million for shipping ingredients containing poultry feathers and other misbranded items to pet food manufacturers. Wilbur-Ellis Feed pleaded guilty in April. Diversified Ingredients Inc. pleaded guilty in July. Both were sentenced Thursday. Federal authorities say Wilbur-Ellis substituted lower cost ingredients for chicken and turkey meal in shipments from a Texas plant to pet food manufacturers in 2013 and 2014, the AP reports. Some shipments included ground-up feathers. Diversified, a commodities broker, had pet food companies among its customers. Its clients received the adulterated ingredients. Federal prosecutors say the ingredients posed no health threat to animals that ate the pet food.

Job Openings and Labor Turnover Survey

The Free Press WV

The number of job openings reached a series high of 7.1 million on the last business day of August, the U.S. Bureau of Labor Statistics reported today. Over the month, hires and separations were little changed at 5.8 million and 5.7 million, respectively. Within separations, the quits rate was unchanged at 2.4 percent and the layoffs and discharges rate was little changed at 1.2 percent. This release includes estimates of the number and rate of job openings, hires, and separations for the nonfarm sector by industry and by four geographic regions.


Job Openings

On the last business day of August, the job openings level reached a series high of 7.1 million. The job openings rate was 4.6 percent. The number of job openings was little changed for total nonfarm, total private, and government. Job openings increased in federal government (+15,000). The number of job openings was little changed in all four regions.


Hires

The number of hires in August reached a series high of 5.8 million. The hires rate was 3.9 percent. The number of hires was little changed for total nonfarm, total private, and government. Hires were little changed in all industries and in all four regions.


Separations

Total separations includes quits, layoffs and discharges, and other separations. Total separations is referred to as turnover. Quits are generally voluntary separations initiated by the employee. Therefore, the quits rate can serve as a measure of workers’ willingness or ability to leave jobs. Layoffs and discharges are involuntary separations initiated by the employer. Other separations includes separations due to retirement, death, disability, and transfers to other locations of the same firm.

The number of total separations was little changed at 5.7 million in August. The total separations rate was 3.8 percent. The number of total separations was little changed for total private and for government. Total separations increased in state and local government education (+20,000). Total separations was little changed in all four regions.

The number of quits was little changed in August at 3.6 million. The quits rate was 2.4 percent. The number of quits was little changed for total private and for government. Quits increased in wholesale trade (+24,000) but decreased in professional and business services (-82,000). The number of quits was little changed in all four regions.

The number of layoffs and discharges edged up to 1.8 million in August (+176,000). The layoffs and discharges rate was 1.2 percent. The number of layoffs and discharges edged up for total private (+158,000) and was little changed for government. Layoffs and discharges increased in professional and business services (+117,000) and in state and local government education (+20,000), but decreased in health care and social assistance (-35,000). The number of layoffs and discharges increased in the West region.

The number of other separations was little changed in August at 332,000. The other separations level was little changed for total private and unchanged for government. Other separations increased in real estate and rental and leasing (+8,000) and in arts, entertainment, and recreation (+5,000), but decreased in professional and business services (-31,000). The number of other separations increased in the Northeast region but decreased in the Midwest region.


Net Change in Employment

Large numbers of hires and separations occur every month throughout the business cycle. Net employment change results from the relationship between hires and separations. When the number of hires exceeds the number of separations, employment rises, even if the hires level is steady or declining. Conversely, when the number of hires is less than the number of separations, employment declines, even if the hires level is steady or rising. Over the 12 months ending in August, hires totaled 67.0 million and separations totaled 64.7 million, yielding a net employment gain of 2.4 million. These totals include workers who may have been hired and separated more than once during the year.

In-N-Out’s Billionaire Prez: I Was ‘Over’ by Age 22

For many West Coasters, In-N-Out is the burger chain—hard to find in big cities but revered for its low prices and fresh ingredients. Now meet Lynsi Snyder, a 36-year-old who has battled drug and alcohol use, sports Bible-verse tattoos, and is married to a race-car driver. The kicker: She is In-N-Out’s president, just listed by Forbes as the youngest woman among America’s richest 400 billionaires (her net worth: $3 billion). Sporting black combat boots and piles of silver bracelets on each arm, she’s also a traditionalist: “It’s not [about] adding new products. Or thinking of the next bacon-wrapped this or that. We’re making the same burger, the same fry,“ she says. “We’re really picky and strategic. We’re not going to compromise.“ All this fits In-N-Out’s history, a curious mix of tradition and dangerous living.

Opened in 1948 in Baldwin Park, Calif., by Snyder’s grandparents, the chain was led by her uncle for 17 years until he died in a 1993 plane crash. Snyder’s father Guy then became chair despite his drag racing and opioid habits; he survived three overdoses but died of heart failure at age 48. Snyder, meanwhile, went through two early marriages and substance abuse: “It was like a black-sheep era of my life,“ she says. “By the time I hit 22, it was pretty much over”—but all that “forced me to be stronger.“ Taking the reins in 2010, she saw the company’s value grow to nearly $1 billion as it expanded into Texas and Oregon. But Snyder still sticks to the basics: No frozen meat, no microwaves, no heat lamps, no franchising, and no IPO. “It’s not about the money for us,“ she says, per People. “Unless God sends a lightning bolt down and changes my heart miraculously, I would not ever sell.“

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