Steel Settlement Analyzed by COWPS

by Robert W. Crandall on June 1, 1977
by Robert W. Crandall

The Council on Wage and Price Stability said today that the collective bargaining contract negotiated recently between the United Steel Workers and the nation’s largest steel companies will raise wages alone by 29.7 percent over the three year life of the agreement and puts added pressure on manufacturers to increase prices.

The Council’s 29.7 percent figure takes into account the impact of the contract’s cost-of-living escalator clause and is based on a projected 6 percent annual rate of inflation.

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