Word: guideposts
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...accord provided boosts in wages and fringe benefits adding up to at least 7% annually, thus stretching the Nixon Administration's 6.2% guidepost rule...
...Board. Three other labor leaders walked out with him. Their immediate reason for resigning: the board's decision to override them and cut back the West Coast dock-strike settlement from a 20.6% first-year raise to 14.9%, which itself is more than twice the basic wage guidepost. The surprise departure of Meany and Presidents I.W. Abel of the Steelworkers, Floyd Smith of the Machinists, and Leonard Woodcock of the Auto Workers threatened briefly to overturn the Administration's painfully constructed controls on wages and prices...
...recent months, the toll of inflation has dragged a reluctant Nixon toward an incomes policy. In his latest move, the President established a guidepost for construction wage increases: about 6% a year. His executive order called on labor and management to set up "craft dispute boards" to review collective-bargaining agreements in each of the 17 construction trades. The boards' findings will be scrutinized by a twelve-man Construction Industry Stabilization Committee drawn equally from labor, management and the public. The 6% ceiling is somewhat elastic; it could be higher in some places if "equity adjustments" restore traditional...
Having abandoned last year's 3.2% guidepost in January, Ackley did not suggest what limit on wage or price increases would be fitting now. But he conceded that "most wage settlements" in 1967 will exceed gains in productivity. Without more voluntary restraint, he argued, the U.S. will stabilize prices only by the "disaster" of continuous peacetime price and wage controls or "higher unemployment-some say 5%-than the American people will or should tolerate...
...Administration may have quietly laid to rest its oft-proclaimed, oft-abused 3.2% wage-price "guideposts" last month, but it did not entirely give up the idea of restraint. As far as prices go, warned the President's Council of Economic Advisers, there are still plenty of areas "about which guidepost questions might be raised." The questions, and a flock of the old familiar Administration telegrams, flew last week in one of those areas: gasoline prices...