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Is this confusing? |
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Umm.....yeah.
25.01 refers to the 'BLS index. Where is that?
Lets take a trip to the Bureau of Labor Statistics website....
WWW.BLS.GOV
From the home page, click on the 'Databases and Tables' tab. |
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In the row 'Urban Wage Earners and Clerical Workers',
click on 'Top Picks.' |
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Now put a check in the box for 'U.S. All Items, 1967=100.
Then when you click on 'Retrieve data' you will get the Consumer Price Index. (CPI) |
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There, that clears everything up. Right?
What do you mean No?
Oh yeah, the 25.02 part. |
| The adjustment
shall be one cent (.01) per hour |
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Ok, that's a penny |
| for each 0.3 point increase |
So, we have to figure out how much it went up.
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| of the average of the months of March, April, and May 2008 |
Ok, get the average of March, April, and May of 2008
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| in excess of three percent (3%) over the average of the months of March, April, and May 2007. |
Oh, that parts a little tricky.
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| Lets start with getting 2007's average |  |
Since it has to increase more than
3 percent before we get a raise,
lets find out what that thresh hold is |  |
| Now get 2008's average |  |
Then take 2008's average and subtract
the adjusted average of 2007 to
get the increase in points. |  |
Eight points. Now divide that by 0.3 to
find out how many pennies you get. |  |
Hey! What do ya know, 26 cents!
That's how much our COLA was this year.
Anyway, I hope its easier to understand now. |  |
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