Word: wage
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Dates: during 1960-1969
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Despite the increases, few economists are alarmed. The Labor Department reckoned last week that wage raises in this year's first half averaged about 4% -above the Administration's 3.2% guideline-but productivity continued to rise about as fast as labor costs. Thanks to recent reductions in excise taxes, new cars cost 2.8% less than they did last spring, and air conditioners are 5.6% cheaper. Also holding down prices is the housewives' habit of comparison shopping. To help them, New York City's Markets Commissioner last week ordered that price tags be put on every item...
Optimism in Pittsburgh. More realistic than the investment community's fears about Viet Nam are the worries about a possible steel strike-but even they seem to be extravagant. As negotiations resume in earnest this week, management negotiators and the Steelworkers' 163-man wage policy committee have already resolved most of the "noneconomic" issues, will now get down to wage bargaining with a probable Aug. 31 deadline. Publicly, management claims it will not offer more than a 2¼% increase in wages, while the union asks for 4.4%, or about 50? an hour over a three-year contract...
...nothing sort of speech, Hubert merely shrugged and said: "What can I do?" He submits his speeches for clearance by the White House, and some have been eviscerated. Last April, when Hubert suggested in public that the Johnson Administration would seek an increase in the $1.25-an-hour minimum wage, the President commented testily: "I see by the papers I have a minimum-wage program." But when Johnson's labor message got to Congress a request for a wage hike was conspicuously absent. When Humphrey recently returned from Paris after a cordial 80-minute conversation with Charles de Gaulle...
...some scholarly justification for the Catholic changes, and admit that occasionally the Catholic notes are better than their own. Where the Protestant RSV says that the familiar Biblical coin the denarius was worth about 20?, the Catholic edition more meaningfully explains that it was a day's wage for a laborer in New Testament times...
...Government is growing impatient with the unions. Commerce Secretary John Connor has criticized the key union in the strike, the Marine Engineers' Beneficial Association, for making "unreasonable and inflationary" wage demands. Too often, say some Washington officials, the shipping executives give in to such demands because they know most of the costs will be carried by the Government. In fact, almost 75% of the seamen's wages are paid by federal subsidies. Critics believe that if the Government would spend less to subsidize wages and more to subsidize modernization and automation, it might have a solution...