Word: wages
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Dates: during 1970-1979
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...Eurofinance, a Paris-based research firm whose shareholders include leading European and U.S. banks, the left is unlikely to do much better than Giscard's government in solving France's economic problems. If the common program were enacted, the study argues, the program's large wage increases, combined with price freezes, would increase workers' buying power. But there would also be a shortage of consumer goods, a slowdown of housing construction and a drop in capital investment. Moreover, it would be far too expensive for a leftist government to end unemployment by creating 1.5 million...
...speed of 55 m.p.h., sells for $5,140. The popular and somewhat peppier Zhiguli (top speed: 76 m.p.h.), a Soviet-built version of a Fiat 124, sells for $7,850-not too much above the price of an average U.S. 1978 model, but three times the average annual Soviet wage. About a third of Soviet auto production is for export, largely in the form of a version of the Zhiguli named the Lada. Thus delivery delays for domestic Soviet auto buyers can run to a year or occasionally even three to four years...
...also suffered a painful defeat when Congress rejected the common-situs picketing bill. Labor leaders blamed the common-situs loss on their own failure to realize how hard a lobbying effort would be needed. They had no such excuse last week, when the House voted on the minimum wage; the AFL-CIO deployed 100 "educators on labor law reform" to spread its gospel. Result: another series of jolts...
...House did vote to raise the minimum wage from $2.30 an hour now to $2.65 on Jan. 1 and $3.05 in 1980. But it turned down a labor bid to specify that the minimum wage from now on must be at least 53% of average manufacturing wages. It voted to let employers of waiters, waitresses and other workers who receive tips continue to pay only half the minimum wage. It decided to exempt any business with sales of less than $500,000 a year from paying minimum wages at all. The ceiling had been $250,000. Only the tie-breaking...
...restraint by individual unions, and just now they are in a rebellious mood. After the congress, some union leaders hinted that they were fully prepared to flout the twelve-month rule; Arthur Scargill, Communist leader of the Yorkshire miners, said, "This decision makes no difference to the miners' wage claim." They want a pay increase on Nov. 1, rather than in March, which would be twelve months after their last contract negotiation. A midwinter miners' strike remains a possibility. Privately, both union leaders and employers are predicting that the next round of settlements will fall...