Teamsters local 570

Strikes Fuel Biggest Pay Raises in Labor Contracts Since 1990

Posted On: Mar 28, 2023

Mar. 28, 2023 | WAGES | […] Nearly 100 labor contracts ratified in 2022 included a double-digit pay increase in their first year, according to an analysis of Bloomberg Law labor data. Contracts ratified last year called for first-year wage raises averaging 5.7%, the review of 817 deals showed. That marks a significant jump over the 3.7% average first-year increase in agreements ratified in 2021 and the highest average rate in more than 30 years. Bloomberg Law