US Union Members See Record Pay Raises, Outpacing Nonunion Workers [BNN Bloomberg (Canada)]
Ford Motor Company (F)
Last ford motor company earnings: 4/28 04:09 pm
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US:NYSE Investor Relations:
shareholder.ford.com
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Source: BNN Bloomberg
Wages of private sector union workers rose 6.3% in the year ended in March, the largest increase in data back to 2001, according to Bureau of Labor Statistics employment cost figures released Tuesday. Meanwhile, nonunion workers in the private sector saw a 4.1% bump in their salaries over the past 12 months, not much higher than inflation. Union leaders have led strikes against firms to push for more cost-of-living increases. Last week, a last-minute wage agreement was reached with Daimler Truck Holding AG in three southern US states to avert a strike. The accord includes pay increases of more than 25% over the next four years. Earlier this month, workers at Volkswagen AG in Tennessee voted to join the United Auto Workers, a landmark victory for union organizing in the long-hostile South, after labor groups scored wins at Ford Motor Co., General Motors Co. and Stellantis NV. The wage gains come after union workers lost income in inflation-adjusted terms from the second quarte
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