Word: wages
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Dates: during 1970-1979
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...strongest reason for fearing accelerated price rises is that the Administration has not yet evolved anything but the most nebulous anti-inflation strategy. It has ruled out controls, standby controls or even comprehensive wage-price guidelines. Presidential aides promise to have an anti-inflation plan ready in a month or two. The indications are, however, that the Administration will do no more than set a highly general goal, call in labor and business leaders for pep talks and hope that they will restrain wage and price boosts...
...booklet defending their labor policies. Among other things, it accuses the union of employing violence in some organizing campaigns, claims that Stevens has a good record in hiring and promoting blacks and other minorities (23% of its work force) and women (42%), and says that Stevens has raised wages an average of 7% in each of the past ten years, to $3.98 an hour now. That is competitive with the rest of the industry, but below the unionized wage scales in some nontextile factories in communities where Stevens has plants. Says James Boone, a packer in Roanoke Rapids: "1 hate...
...Britain. Two years ago, the ruling Labor Party persuaded British trades unions and industry to join a massive campaign to combat runaway inflation (then 26%) and restore the confidence of Britain's foreign creditors. The result was a drastic tightening of the so-called social contract, which held wage increases for all British workers to a flat $10 per week in the first year's Phase 1 and to $7 in Phase 2. The voluntary wage controls enabled the country to halve the inflation rate to a still unacceptable 13% last summer before it rebounded to its present...
...majority of Britain's 26 million workers appear dead set against an extension of wage restraint. Their unrest is illustrated by a wildcat strike of 3,000 toolmakers that has brought most auto production to a standstill at the plants of British Leyland, makers of Morris, Austin, Triumph, Rover, and Jaguar cars, and idled 33,000 workers. The toolmakers are striking over the erosion of their "differential"-the margin by which the wages of skilled workers exceed those of the less skilled. Since the social contract held all increases to a flat monetary standard and ruled out raises...
...broader policy front, British union leaders have so far avoided being specific about the wage limits they are prepared to accept in Phase 3. Apparently, they do not want to commit themselves to any policy until they are certain of controlling the rank and file. Nonetheless, the powerful Trades Union Congress last week served notice about what should be included in the new budget that Chancellor of the Exchequer Denis Healey will present on March 29. The unions' price for going along with a third year of slim raises: a $4 billion expansionary packet to be allocated...