Word: wage
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Dates: during 1940-1949
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...from the President. He had worked all week on his message, brushing up its language during a weekend cruise on the Potomac. The speech would go back over most of the same ground he had already covered at Philadelphia (TIME, July 26): federal aid to education, an increased minimum wage, a civil-rights program. Two added starters: approval of the international wheat agreement and the $65 million loan to build U.N.'s permanent headquarters...
...more than 10 million U.S. workers-about two out of every three labor union members-had received their third wage increase since...
...pacesetter in the new whirl of the inflationary spiral was a 9% wage hike by U.S. Steel Corp. (see NATIONAL AFFAIRS). Big Steel's Ben Fairless promptly announced that steel prices would have to go up also. Bethlehem Steel Corp.'s Eugene Grace and most of the industry followed Big Steel's lead on wages, and began figuring price increases, too. In addition to the wage increase, the new prices would also have to cover higher coal prices (which added up to $1.25 a ton to the cost of finished steel) and a freight rate increase which...
...time the confusion over basing points is cleared up*-and the new raises added-some steel users expect to be paying as much as $80 a ton for finished steel, up to 30% more than last month. A sprinkling of new wage increases also sent up the prices of glass, copper wire and cable (5% to 13%) and dozens of other items. (United Air Lines, Inc. applied to the Civil Aeronautics Board for a 10% rise in passenger rates...
Flabby. Jitters over steel's wage-price hikes, the special congressional session (see NATIONAL AFFAIRS) and the Berlin crisis (see INTERNATIONAL) sent stocks skidding on New York's Big Board. In five days the Dow-Jones industrial average dropped 5.72 points to 185.90, just above the June low. When the market opened this week, it plunged again in the worst break in 20 months. The Dow-Jones industrial average dropped 4.70 points...