35years
Gravy route
Inflation is at 7%.
Our wage increase in August 2021 of $.90 + $.33 (COLA) = $1.23
$1.23 increased our wage from $38.44 to $39.67
That is a 3.2% increase...Or a DECREASE of 3.8% in buying power, even with the COLA.
To keep pace with inflation we should be at $41.13
Our negotiated COLA increase last contract was abysmal.
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In August 2022 we will get a dollar and perhaps a $.40 COLA.
That would bring us to $41.07 at contract end 2023
At 7% inflation we would need to be at $47.09 at contract end 2023 to have 2020 buying power.
Are we gong to get an immediate $6 wage increase at the beginning of the new contract?
And $3-$5 increases each year?
That is just keeping pace.
To keep our buying power even with 2020 we would need to be at $66.05 for a 5 year contract at 7% inflation:
Year Wage Rate
2020 38.44
2021 41.13
2022 44.01
2023 47.09
2024 50.39
2025 53.91
2026 57.69
2027 61.73
2028 66.05
I will be retired. But you guys need a REAL COLA or huge wage increases to keep pace.
Our wage increase in August 2021 of $.90 + $.33 (COLA) = $1.23
$1.23 increased our wage from $38.44 to $39.67
That is a 3.2% increase...Or a DECREASE of 3.8% in buying power, even with the COLA.
To keep pace with inflation we should be at $41.13
Our negotiated COLA increase last contract was abysmal.
----------------------------------------------------------------------------
In August 2022 we will get a dollar and perhaps a $.40 COLA.
That would bring us to $41.07 at contract end 2023
At 7% inflation we would need to be at $47.09 at contract end 2023 to have 2020 buying power.
Are we gong to get an immediate $6 wage increase at the beginning of the new contract?
And $3-$5 increases each year?
That is just keeping pace.
To keep our buying power even with 2020 we would need to be at $66.05 for a 5 year contract at 7% inflation:
Year Wage Rate
2020 38.44
2021 41.13
2022 44.01
2023 47.09
2024 50.39
2025 53.91
2026 57.69
2027 61.73
2028 66.05
I will be retired. But you guys need a REAL COLA or huge wage increases to keep pace.