The annualizing method is a two-step process to compute a FTE by first computing the paid days worked by an employee per year and then deducting the paid days not worked to calculate the net paid days worked to a factor. The numbers are calculated by computing the totals days in the business year minus the paid time off for holidays, vacations, sick days, education days, and dividing the total days in the business year by the net paid days worked to arrive at a factors. For example, the total days in a business year for a 52 week year is 364 days, minus two day off per week (104) equals 260 days. Subtract 9 holidays, 7 sick days, 15 vacation days and 3 education days equals 226 net days worked. Divide 364/226 and the annual factor is 1.6106195, or
Explain. 17. Reports from a new system set up to monitor Internet use by company employees indicate that 145 out of a random sample of 1100 employees at a corporation accessed internet sites that were clearly not related to their jobs over the last week. On average, employees who accessed non job related sites spent 4.8 hours per week at such sites with a standard deviation of 2.1 hours a. Give a 95% confidence interval for the percentage of employees at the
This is the internal identification number which the employer gives employee. Salary This is the amount the employee has earned before any deductions have been made. The employer may break this down into components if the employee has done overtime or receive a bonus or commission. This will show how much the employee has earned in wages before any deductions are made. It might also show how the employee pay was calculated, for example; the employee hourly rate and the number of hours worked.
Bii Describe the information which needs to be shown on your pay slip/statement. Payment This will be what you have earned whether paid weekly or every four weeks. It will be the total for that pay period you have already worked. Tax Tax is paid depending on how much you have earned it will show on your payslip if you have or haven’t paid tax. National insurance National insurance is also paid depending on how much you earn (it’s different if you are self-employed) and it will be shown on your pay slip.
Problem Set 5 1) What is the “rate of unemployment”, what components does it consists of, and how is it calculated? What happened to this rate in Australia during 1970-1983, and during 1992-2007? Give at least two reasons for the observed trends in each period. The rate of unemployment refers to the percentage of the labour force that is unemployed. The unemployment rate consists of the labour force and number of people actively seeking work whom are unemployed within the labour force.
economic sectors including the business sector, the nonfarm business sector, nonfinancial corporations, and manufacturing, along with subsectors of durable and nondurable goods manufacturing. The Major Sector Productivity program develops indexes of multifactor productivity for the private business and private nonfarm business sectors of the economy and for the aggregate manufacturing sector, as well as for 18 3-digit North American Industry Classification System (NAICS) manufacturing industries. The Industry Productivity program develops annual labor productivity and unit labor cost measures for selected U.S. industries. Industry measures cover about 55 percent of employment in the nonfarm business sector of the economy. The Industry Productivity program develops indexes of multifactor productivity for 86 4-digit NAICS manufacturing industries, air transportation, and line-haul railroads.
The median age for the population of Dyer County is 36.5 years of age. Looking back at the US Census report from the year 2000 the population was 38, 335 and has only increased by 765 residents over the last twelve years. This is not indicative of a growing community but of one that is maintaining the status quo. In researching the economic status of Dyer County, it is clear according to an article in the local newspaper, Dyersburg State Gazette dated November 1, 2011 that the unemployment rate for the county is 13.7 percent. This dire statistic earns Dyers County the title of the eight highest unemployment rate for counties in the state of Tennessee.
------------------------------------------------- Labor Unions Economic Effects Johana Microeconomics Labor Unions Economic Effects Labor unions are organizations of workers formed to protect their rights and promote their common interests. Their endeavors to raise wage rates are mostly focused on the labor market supply. Labor unions, for the most part, drive up unemployment, contribute to offshoring, outsourcing, and make firms less competitive. Therefore, labor unions, when successful in raising high wages, negatively affect the economy of households and business firms within the U.S., and American global competitiveness. A Craft Union Model or Exclusive Union restricts the number of workers that can join it, based mostly on
English 043 Professor Doreen Kiefer 12/15/13 “The Growing Need of Raising Minimum Wage” Have you ever wonder how many desperate unemployed American citizens there are in the United States seeking for jobs? Well there’re more than eleven million unemployed citizens desperately trying to make a living in this terrible recession. Not only is it affecting our economy but our businesses, and families as well. Even before the recession, our economy was rapidly shifting, with fewer and fewer middle class jobs and opportunities, with fewer and fewer middle class families, which has led to a low growing, low-wage workforce. As of the end of 2011, the United States needed to create roughly 10 million jobs to return to the pre-recession unemployment
The Employment Act was later amended by the Full Employment and Balanced Growth Act of 1978 which clearly instructed the US government to strive toward four ultimate goals: full employment, growth in production, price stability, and a balance of trade and budget. To help attain these goals, in combination with the Bureau of the Census, the Bureau of Labor Statistics (BLS) randomly surveys 60,000 households in the US and publishes the unemployment rate along with other monthly employment statistics. Before discussing the opportunity costs associated with unemployment, we must first come to understand what the unemployment rate is and what sets the unemployment rate. As previously stated, the BLS publishes unemployment information on a monthly basis. The unemployment rate is the percentage of individuals who are 16 years of age and older who are without jobs and are actively seeking employment.