Monday, January 05, 2009

Five on the Fifth

Apropos of nothing, I thought I'd note that today is the anniversary of Henry Ford's revolutionary $5 a day wage

From The Detroit Free Press:
On Jan. 5, 1914, Henry Ford unveiled his plan to pay workers $5 a day for eight hours of work. It was an effort to prevent turnover (close to 400% in 1913) and to ensure that his employees could afford to buy the cars they made. The previous wage was $2.34 for nine hours of work. That $5 wage would be worth $106.21 in 2008, according to the U.S. Bureau of Labor Statistics.
The $45 an hour today's non-union autoworker receives totals $360 a day.

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