Mark Perry posts an amazing graph. The average total compensation per worker for Toyota is $48 per hour. For Management and Professional, $47.57 per hour. For Goods Producing, $31.59 an hour. For All Workers, $28.48 per hour.
What is it for for the Big 3 Automakers? Are you ready for this?……. $73.20 an hour!
Let them reorganize under bankruptcy protection, renegotiate their ridiculously expensive labor contracts, and see if they can make it. In the meantime, Toyota and Honda (who hire over one hundred thousand U.S. workers) are more than capable of taking up the slack.
