[PEN-L:2017] Minimum wage revisited

[Fikret Ceyhun <ceyhun@xxxxxxxxxxxxxxxxxx>]

Dear PENers,


	I want to run some simulations concerning the wage rate and rate
of profit in manufacturing, by using "profit squeeze" hypothesis.

	The symbols:		r = (Y-W)/K = (y-w)/k

Where:	r=rate of profit in manufacturing
		Y=manufacturing output; W=wages in manufacturing;
		K=capital stock in manufacturing.
		y=Y/L (average productivity per man-hour);	
		w=W/L (average hourly wage rate);		
		k=K/L (capital-labor ratio)
		L=employment in man-hours

	To run simulations I need employment figure in "man-hours" or
"human-hours" from 1950 or 1960 to present. I have data for L in persons,
not in man-hours. I suppose I could crudely estimate man-hours employment
data multiplying (L in persons) by (average weekly hours) by (52 or
50).But that would be too crude to have any relevance.

	Are there anybody out there who know the employment data in
manufacturing in terms of man-hours?

	Many thanks in advance.

					Happy holidays
					Fikret

Fikret Ceyhun
Dept. of Economics		e-mail:	ceyhun@xxxxxxxxxxxxxxxxxx
Univ. of North Dakota		voice:	(701)777-3348	office
University Station, Box 8369		(701)772-5135	home
Grand Forks, ND 58202		fax:	(701)777-5099