Regulators and lawmakers have asked Freddie Mac, a government-chartered financier of home mortgages, to withhold severance packages from former executives forced
out of the company on June 6, until more information is revealed about their
departures, the New York Times reports.
In March 2003, private industry employer compensation costs averaged $22.37 per hour worked. Wages and salaries averaged $16.15 per hour (72.2 percent), while benefits averaged $6.22 (27.8 percent).
Real average weekly earnings decreased by 0.3 percent from March to April after seasonal adjustment, according to preliminary data released Friday by the Bureau of Labor Statistics.
Increases in wages are failing to keep pace with the rising costs of housing for many low- income and middle-income workers, according to a report by the National Housing Conference.
Labor unions criticized Donald J. Carty for giving executives what the unions viewed as lavish perks while at the same time asking unions to make concessions.
Full-time workers age 25 and over without a high school diploma had median weekly earnings of $397, compared with $549 for high school graduates (no college) and $961 for college graduates holding at least a bachelor's degree.
