Word: wage
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Dates: during 1960-1969
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...raised last year's GNP from $672 billion, under the old figures, to $675 billion; the productivity growth rate went from 2.7% to 2.9% . Under the revisions, the guideline ceiling ought to be raised to 3.6%. Moreover, businessmen claim with cause that the Administration, while merely grumbling about wage increases, coerces observance of the price ceiling. Thus, when Bethlehem Steel last fortnight tried to raise prices on structural steel by $5 a ton, Johnson ordered all federal agencies to refuse to buy Bethlehem structurals. Yet, while New York's transit workers were winning an infinitely more inflationary contract...
...guidelines to enforce price rollbacks or holdbacks not only on steel, autos, aluminum, copper, and wheat and corn products-but also on such lesser items as mechanical pencils and catchers' mitts. During that same period, the President and his aides have employed the guideline concept to restrain wage increases for workers in the steel and maritime industries-as well as for federal employees. Thus the President has lived up to the warning-or threat -made by Treasury Secretary Henry Fowler, who, in a recent speech to the National Association of Manufacturers, said that it was "imperative" that both industry...
...more about guidelines." Rarely has any prophet been proved so accurately occult. And last week, as Ackley and his colleagues worked on their annual economic report, they could only be aware that some changes may have to be made in both the principles and the application of the wage-price guidelines...
...Either transit fares or real estate taxes seem sure to go up in San Francisco because of the costly settlement that ended New York City's twelve-day transit strike. Transit wages in the Golden Gate city are tied by contract formula to those in New York, highest in the nation. As a result, San Francisco's transit wage bill could rise by $572,000 a year next July 1 and by another $1,600,000 a year in 1967. Meeting that cost would require a 100 rise in realty taxes, from today's rate...
Inside New York, estimates of strike-caused loss ranged from $500 million (Mayor Lindsay) to $800 million (the Commerce & Industry Association). The association figured that wage earners lost $187.5 million in pay for 75 million unworked man-hours-a blow that fell most heavily on the poor. Said Executive Vice President Ralph C. Gross: "The city's economy was struck harder than at any time since the Depression...