Word: highers
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Dates: during 1970-1979
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...foreign moneymen worry about the Carter Administration's resolve to hold down inflation at the cost of higher unemployment as the 1980 political campaign picks up steam. They found fresh reason for skepticism last week: it was revealed that to get the unions to join in the Carter anti-inflation program, the Administration agreed not to try to penalize any violators of the "voluntary" wage and price guidelines. Miller attempted to soothe his colleagues in Belgrade by promising that the Administration would "stay the course" in battling inflation, but doubt remained. Said one West German Cabinet minister: "The problem...
...long-playing saga of the declining dollar has demonstrated -that a weakening currency fosters a vicious circle. The dollar's decline not only causes more inflation in the U.S. but also gives OPEC an excuse to push petroleum costs still higher, because oil prices are set in dollars. As the latest run on the dollar continued to lose momentum, officials in Bonn and Washington recalled that in the battle of the buck the next round of speculation has always come more quickly and been more ferocious than the last...
...result, employers are having a tough time paying people fairly, especially the strong performers who merit higher-than-average increases. In a period of nominal inflation, for example, a firm could afford to reward its superstars with raises of 12% or so because the average clock watcher would need to be given only, say, 2%. But with living costs soaring, pressures are high to grant underachievers heftier raises at the expense of the overachievers, so that many people wind up with increases in the 6% to 8% range. Laments Bruce Ellig, a compensation specialist at Pfizer Inc., the pharmaceutical firm...
...went up only 10% a year. Boosting benefits is much more difficult now; they are included in the guidelines calculations and are becoming costlier to provide, especially in the case of medical insurance plans. Last year such benefits rose by only 9.5%, and almost all of that increase reflected higher costs, not expanded programs...
...make their benefit packages more cost-efficient as well as more satisfying to employees. One innovation is the "cafeteria" plan, which allows employees to select their own benefits beyond a certain level of required medical, pension and life insurance coverage. For instance, a middle-aged bachelor might choose higher contributions to his pension plan in return for reduced medical benefits, which he does not need since he has no family. At American Can, employees can forgo, say, annual medical checkups in return for an extra week of paid vacation. Says Senior Vice President Sal Giudice: "A lot of young people...