Word: wages
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Dates: during 1970-1979
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...male labor force was self-employed. By 1960 the figure had shrunk to 16%, and by 1970 to about 10%. Of the self-employed, about 1.7 million people are independent farmers; there are also 9.4 million small businesses. In all, about 75 million Americans today are wage-and-salary employees...
...buses-a painful increase for lower-income people. Drivers will be charged up to 25? extra to traverse most bridges and tunnels. Fewer schools and playgrounds will be built because of a $375 million cutback in the capital budget. City workers have agreed to put off their promised 6% wage raise, and come next summer, those who work in air-conditioned offices will have to stop leaving the job an hour early. These were some of the "slashing economies" that a grim-looking Mayor Abraham Beame announced last week, adding, "There is nothing I have done in public life that...
When the maneuvering and posturing came to an end-at least for the time being-an agreement had been hammered out between the city and most of the unions. The pact provided not exactly a wage freeze, as Big Mac had wanted, but rather a sort of partial freeze: a graduated deferral of the 5% to 6% pay raise that had taken effect July 1. It would be put off until the end of fiscal 1978 and then would be granted only if the city's budget is balanced and if its bonds are being accepted by investors...
...repressed frustrations. "We fell asleep a half-century ago and have just now woken up," said an old woman in Lisbon. Across the country, hundreds of mini-coups erupted: bakers, lawyers, engineers, journalists and architects ousted the leaders of their unions. Workers took over factories or else demanded huge wage increases-often up to 200%. An alphabet soup of initials covered walls, posters and newspapers, as scores of political parties were formed, ranging from monarchist to Maoist. More ominously, the much persecuted Communist Party (see box page 28) emerged from the underground as the nation's most dedicated...
...sustaining." Inflation may settle at around 6% in the U.S. and West Germany, but elsewhere it will remain higher. In France it should level off at around 9% early next year, in Italy 12.5%, in Japan 8.5%, and in Canada 8%. If Harold Wilson succeeds in curbing the extravagant wage demands of his country's unions, Britain's rate could be reduced...