Word: wages
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Dates: during 1970-1979
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...clients learn some basic skills. They assemble kits of electric rods for a utility company's field linemen; they reupholster chairs for nearby military bases; they tie together stalks of wheat for a local florist who sells dried flowers by mail. Sometimes they receive the U.S. minimum wage of $2.10 an hour, sometimes as little as 53?. Not much, admits a Gateway official, but "it beats sitting in front of the television all day, which is probably what they would be doing...
...passionate, often bitter debate, the House of Commons approved the government's emergency package by a vote of 264 to 54, with all but five Tories abstaining The plan limits pay increases to a maximum of $13.20 a week, blocks the use of government funds to finance excessive wage settlements by the nationalized industries, and uses the price code to prevent private employers from passing on the cost of high settlements to the consumer. It also proposes strict cash limits on public spending...
Economic Ruin. Whether or not Mrs. Perón requests a leave, it was apparent that she had already lost much of her power. She staked her prestige -and that of Lopez Rega-on a rollback of union wage claims, but was beaten last month when labor wrested UP, increases of up to 145% (TIME, June 23). That defeat spelled the end for the trusted coterie of advisers on whom she had relied since coming to power...
...government meanwhile has yet to deal with the country's main problems: the near prostration of the economy and continued demands by labor. The unions, having already won ruinously high wage increases, are pressing for a rollback in prices to the levels of May 31 and a price freeze. So far, the government has not gone along with the rollback, but it did announce that a freeze would be imposed. Equally disturbing, the country's foreign exchange reserves are down to an estimated $600 million from $735 million two weeks ago. "We have reserves for two weeks more...
Last week, too, aluminum producers announced that they would go ahead with price rises of a bit more than 2% scheduled for August, and hinted that a second round of increases might follow in the fall. The Council on Wage and Price Stability fears that aluminum increases will spur large companies in concentrated industries to raise prices at the first signs of recovery. It persuaded the aluminum makers to postpone the initial increases from July to August, but has no formal power to stop them...