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Wage Hikes

All articles tagged with #wage hikes

labor-strike1 year ago

Seoul Bus Drivers' Strike Causes Commuter Chaos

Seoul's bus labor union went on strike after failing to reach an agreement on wage hikes, halting the operation of 97.6 percent of intracity buses. Last-minute negotiations ended without accepting the union's demand for a 12.7 percent increase in hourly wages, leading to the strike beginning at 4 a.m. The city government announced emergency plans to minimize commuter chaos, including adding more subway trains, extending operating hours, deploying personnel to major stations, and operating free shuttle buses from major subway stations across the capital's 25 districts.

via The Korea JoongAng Daily|
#bus-drivers#commuter-chaos#labor-strike
business-and-economics1 year ago

"The Great Resignation: Ongoing Impact in Specific Sectors"

The Great Resignation may have subsided overall, but certain industries such as personal care services and trucking continue to experience high turnover as workers seek better-paying opportunities. This trend has led to wage increases in these sectors, posing a challenge for the Federal Reserve in managing inflation. Meanwhile, industries like retail and professional services have seen a decrease in quitting as wage hikes have moderated. The overall job market is cooling, and many workers have already found positions that match their skills and salary requirements during the Great Resignation.

via USA TODAY|
#business-and-economics#great-resignation#industry-analysis
business1 year ago

"Starbucks and Workers United Reach Agreement on Wage Hike and Collective Bargaining Talks"

Starbucks has agreed to increase wages for unionized cafe workers, aligning them with the pay raises nonunion workers received in May 2022, signaling a thaw in its relationship with Workers United. The company and the union have also agreed to start discussions on reaching collective bargaining agreements for stores, marking a significant shift in their relationship since the first Starbucks location unionized in December 2021.

via CNBC|
#business#collective-bargaining#starbucks
labor-relations2 years ago

"Unprecedented Surge in Labor Strikes Expected to Continue in 2024"

In 2023, there were 393 strikes in the U.S., involving over 500,000 workers, with significant gains made by unions. Actors, autoworkers, and health workers were among those who went on strike, securing wage hikes and protections around AI use. These victories were part of a larger wave of worker efforts building up over the past few years, fueled by the success of previous fights and the state of the labor market. Experts believe the momentum will continue as more unionized workers enter contract negotiations, potentially benefiting non-union workers as well.

via CNBC|
#contract-negotiations#labor-movement#labor-relations
labor-relations2 years ago

"Ford and Stellantis Union Workers Secure Historic UAW Contracts with Wage Hikes and Benefits"

Ford workers have ratified a historic labor contract with 69.3% support, marking the end of a two-month wage fight. The contract includes wage hikes, benefits, and the reinstatement of major benefits lost during the Great Recession. The gains in the deal are valued at more than four times the gains from the last UAW contract in 2019 and provide more in base wage increases than Ford workers have received in the past 22 years. The contract represents about 57,000 UAW members employed at Ford.

via Detroit Free Press|
#benefits#contract#ford
business2 years ago

California Fast Food Workers Could See Minimum Wage Increase to $20

Fast-food workers in California will receive pay hikes starting next year after a compromise was reached between the restaurant industry and unions. The deal establishes a nine-person council that will determine future wage increases for the fast-food industry in California until 2029. The agreement sets a wage floor of $20 per hour for fast-food workers at chains with at least 60 locations nationwide, starting April 1. From 2025 to 2029, the council will have the authority to raise the minimum wage annually by 3.5% or the change in the consumer price index. The deal averts a prolonged battle and potential referendum, providing stability for the industry while protecting local restaurant owners and preserving the franchise model.

via CNBC|
#business#california#compromise
local-news2 years ago

NYC Reaches Multiple Labor Agreements with Unions, Including Police and Firefighters

New York City has reached a five-year tentative contract agreement with a coalition representing firefighters, police and correction officers, and sanitation workers, which includes wage hikes for over 32,000 members across the FDNY, NYPD, and correction and sanitation departments. The agreement is in alignment with money the city set aside in its labor reserve for the next fiscal year.

via CBS New York|
#fdny#labor-unions#local-news
economics2 years ago

The Role of Wages in US Inflation: Debunking the Myths.

Rising wages due to a worker shortage have been a key driver of inflation, leading to record job openings and high turnover. However, there are signs that wage growth is cooling, especially as layoffs have skyrocketed nearly fivefold in 2023 across some industries. While central banks are still cautioning about the wage-price spiral, experts seem more optimistic that the wage-induced inflation loop won't be as big of a threat as first expected.

via CNBC|
#central-banks#economics#inflation