U of M Economics professor tackles tough question of UAW wages - Autoblog: "A tip sent us to the blog of Dr. Mark J. Perry, professor of economics and finance at the University of Michigan, who points out that hourly union workers at the Big 3 make on average 57.6% more in a year than a university professor with a Ph.D. Using figures from the automakers themselves, Dr. Perry tells us that a union worker at Ford makes $141,020/year including wages and benefits. A worker at General Motors makes $146,520/year and one at Chrysler earns $151,720/year"Now that is not to say I would want to trade jobs and start making cars, but I have to conclude that pay cuts are probably necessary to make the US Big three more competitive.
Friday, July 13, 2007
At least a part of the reason
This is not a knock on autoworkers. If they can get paid above market rates, so be it. But when anyone asks why US auto manufacturers are having trouble, the search might begin by looking at some of these stats from over at Autoblog.com