Word: contraction
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Dates: during 1970-1979
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...said although wage-price guidelines call for wage hikes of no more than 7 per cent, a Teamsters contract which increases wages by 27 per cent over three years is within the guidelines because "we eased the standard and it represents genuine restraint." The contract is now pending ratification by Teamsters members...
Union officials say the possibility that the members will reject the terms of the contract is remote...
Although the union and trucking industry announced the contract settlement would lead to higher labor costs of about 30 per cent over three years, the administration officials disagreed saying the contract only leads to a 26.5 per cent three-year increase in labor costs...
Industry officials agreed with the administration that the contract's wage and fringe benefits increases fall within the guidelines...
Frank Fitzsimmons, Teamsters union president, refused to say whether he thought the increases fell within the guidelines, leaving that to the government. "I can't figure their arithmetic," Fitzsimmons said after the contract settlement Tuesday...