Word: hikes
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Dates: during 1980-1989
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...next three years, bringing the rate to $4.55 by 1991. Supporters of the legislation contend that workers need the boost to keep up with rising prices, since the minimum wage has lost 22% of its purchasing power since the last increase in 1981. Opponents, including business lobbyists, believe the hike will hurt labor-intensive enterprises and set off an inflationary spiral...
Congress was more inclined to think about the cost, which Pepper proposed to cover by lifting the $45,000 cap on income subject to the 1.45% Medicare payroll tax. Projections showed that this tax hike would cost $9 billion by 1993, a prospect that brought out thousands of small businesses and the U.S. Chamber of Commerce in opposition. They were joined by the health-insurance industry, looking to protect its lucrative stake in private medigap insurance...
...more serious threat to Hyundai came on May 30, when 20,000 workers struck the company's profitable auto-manufacturing unit, shutting down all 15 of its plants. The strikers are asking for a 48% pay hike. The government is pressuring Hyundai and other companies to resolve their labor problems quickly in hopes that the situation will calm down by the time the Seoul Olympics begin in September...
...January, the council voted to seek an increase--from $10 to $20--in the fee it receives from each student's term bill. The funding hike was approved by the Faculty in April, and council budgets beginning next year will double...
...surged by 0.6% in March, after dropping 0.2% the month before. Though it was only a one-month figure, and one that may be an aberration, the 0.6% increase translated into an annual rate of 7%, far higher than last year's 2.1% upswing in producer prices and 4.4% hike in consumer prices. Even so, the market reacted more calmly to the news than many investors thought it would. After being down by more than 30 points, the Dow struggled back to finish the day with a modest 8.29 gain. It closed at 2013.93, off 76.26 for the week...