Word: wages
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Dates: during 1970-1979
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...ECONOMY: The Republicans want a commitment to end deficit spending as a means of reducing unemployment. They reject wage-price controls and "make-work" public employment programs, favoring instead tax incentives for investment and relying on the private sector for new jobs. The Democrats want a strong domestic council to moderate wage and price increases by jawboning, and would link the minimum wage to the cost of living. Their platform also pledges the Government to take on necessary tax and spending measures to reduce adult unemployment to 3% within four years?the intent of the Humphrey-Hawkins bill. It would...
That rate was about as expected, reflecting mainly higher prices for gasoline, clothing, used cars and some other items. For the year ending in July, the C.P.I, rose only 5.4%-the smallest twelve-month increase since the days of wage and price controls in 1972 and early 1973. Most of that 5.4% rise was traceable to higher energy costs and the rising price of medical care; happily, the cost of food grew only 2% in the past year...
Reagan, too, planned to reach Kansas City early, settling into the sweeping elegance of the Alameda Plaza to wage his eleventh-hour fight to prevent an early Ford victory. His campaign manager, John Sears, would direct operations from a 50-ft. trailer outside the glistening arena, working the convention floor through Nevada Senator Paul Laxalt and a batch of assistants. Both camps had their carefully prepared charts on how each delegate might vote-and they were poised to pounce on anyone who deviated from the expected. After nine long months of campaign labors, no one last week could be sure...
RUBBER. The breakthrough in the 16-week strike by 60,000 members of the United Rubber Workers came after a 70-hour bargaining marathon, when union negotiators and Firestone agreed to a new pay package giving workers a 36% increase in wages and benefits over three years. The Firestone agreement, which will set the pattern for the other struck members of rubber's Big Four (Goodyear, Goodrich and Uniroyal), will boost the industry's average hourly wage in the first year by 880, to $6.38 an hour. In addition, the rubber workers got an escalator that provides...
...range. Washington, however, regards the hefty increase as unavoidable because the rubber workers have lagged behind other industrial employees in pay raises during the past three years. For instance, auto assembly-line workers, who are currently negotiating new contracts of their own, at present have an average hourly wage of $6.57. The settlement will cost the Big Four at least $400 million annually by the third year of the contract, and in expectation of those higher costs, the companies were already raising tire prices...