Word: waged
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Dates: during 1970-1979
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Another sign of greater accord between the University and the union is the recent ratification of the long-awaited new contract. While neither side would release exact details of the contract, Powers, Joyce and Costello said it concerned wage increases, health benefits, and about 12 more items, including the definition of reclassification policy. Costello called the wage increase "moderate--neither extremely high nor extremely low, but in accord with the cost of living increase." But the union appears less satisified with the contract than the University, for Costello added, "Feelings were extremely high among the men--as in every contract...
...consumer price index for April, due out this week, will be a "disaster," warns Barry Bosworth, director of the Council on Wage and Price Stability (COWPS). May's figures will not look much better, he adds, and prices will not start to level out until June at the earliest. Partly because of last winter's blizzards, food prices climbed 16.4% in the first quarter. Beef has jumped at an annual rate of 41 % since January, and wholesale prices are spurting, meaning that retail prices will continue to rise...
...Carter Administration is paying dearly for its past support of inflationary increases in such areas as farm price props, the minimum wage, and Social Security benefits and taxes. "It will take a long time to overcome the inflationary actions of last year," says Bosworth, but he adds that the Administration is at last "taking a tougher line on anything inflationary." Indeed, the President and private business people were pressing the anti-inflation campaign on several fronts last week...
...Wages. In its first public blast at a labor negotiation, Bosworth's COWPS condemned as "clearly inflationary" a 25.5% three-year wage offer that West Coast employers presented to 21,000 pulp-and-paper mill workers. Both Bosworth and Charles Schultze, the President's chief economic adviser, fear that labor is coming to take for granted annual 10% wage increases. Unless the trend is reversed, says Bosworth, "we might as well forget about decelerating inflation any time in the near future...
...example, he has new ideas for combating the problems of inflation, unemployment and energy. Among his suggestions for fighting inflation and stagflation are proposals for an 18-month moratorium on net federal cost raising measures, a system or tax incentives to restrain wage and price increases, and a reduction of the regressive sales taxes...