From Guaranteed Annual Wages to Income Security

Unterberger, S. Herbert
April 1955
Labor Law Journal;Apr55, Vol. 6 Issue 4, p215
Academic Journal
The article focuses on guaranteed annual wages and income security in the U.S. When the words "guaranteed annual wage" are used, they conjure up a picture. To the usual worker, the picture is one of the good lives--where, at least for a year, the fear of a substantial reduction in income, clue to no fault of his own, is eliminated. To most employers, the picture is a morbid one indeed It involves the fear of being saddled with a new, immeasurably greater fixed cost. To arrive at their extreme conclusions, both the workers and the employers have done the very logical thing of assuming that the words "guaranteed annual wages" mean exactly what they say, namely, that for the period of a year, each employed worker is guaranteed his regular wage. If he is paid weekly, this would involve a guarantee of 52 consecutive pay checks, none of which is for less than what lie would receive for working the regular number of weekly hours. Only a few of the other known guaranteed wage plans provide full time annual wage guarantees for all, or nearly all; of the employees. The most comprehensive study of guaranteed wage plans was made in 1946, as part of the Office of War Mobilization and Reconversion's Guaranteed Wage Study.


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