Word: wage
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Dates: during 1960-1969
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...machinists' strike seemed in evitable, the President invoked the 40-year-old Railway Labor Act to postpone the walkout so that a three-man presidential emergency board could study the dispute. Chaired by Oregon Democrat Wayne Morse, a partisan of organized labor, the board ultimately recommended a wage-benefit increase of 3.6%, a notch above L.B.J.'s 3.2% anti-inflationary wage-price guideline. Johnson was pleased nonetheless, urged both labor and management to accept the board's terms. The five airlines-Northwest, TWA, Eastern, United and National-agreed, but the I.A.M. turned thumbs down, went on strike...
Union sources claimed that contract represented a pay raise of some 72 cents an hour above the current average hourly wage of $4.15--an increase of between six and seven per cent...
...proposed contract with Eastern, National, Northwest, Trans World and United Airlines called for benefit and wage increases that were estimated by sources close to the Administration at 4.3 per cent a year...
...announcement to a healthy $2.79 1/16. Whether it would stay healthy was the question that international bankers were asking. They noted that such reforms as cuts in tourist allowances and overseas spending would take months to have any effect. What worried them most was that the key feature-the wage, price and dividend freeze-was voluntary, and the trade unions seemed reluctant to cooperate...
Worry at the Top. Fretting because, in his words, "the economy is heating up," President Johnson called 50 congressional leaders to the White House and lectured them about economizing. Unless they do, he insisted, the alternatives are price and wage controls (which nobody wants), a huge budget deficit (inflationary), or new taxes (in an election year). Congress has already appropriated about $1 billion over the Administration's requested $113 billion budget for the new fiscal year. Pending proposals, if adopted, might add another $5 billion or so, chiefly for health, education and agriculture. On top of that, the Viet...