Its_a_me
Well-Known Member
In the last contract, the union gave away bargained our COLA increases for 2024. The bold part below was the added giveaway bargaining that wasn't in previous contracts.
The estimate from analysts are out ahead of the official (Wed) June 12th release date...
This means the COLA would have been $0.0362 under the old contract--but is less than $0.05 which our uniongave away bargained. SO WE GET NOTHING.
Our union lost us about $61.00 based on 2040 hours a year. We previously had already give up the first 3%, but that is a complete mislead since it is now really about 3.5% albeit clearly worded.
ARTICLE 33. COST-OF-LIVING (COLA)
....
For every two tenths (0.2) point increase in the Index, over and
above the base (prior year’s) Index plus three percent (3.00%) there
will be a one (1) cent increase in the hourly wage rates payable on
August 1, 2024 and every August 1 thereafter. These increases shall
only be payable if they equal five cents ($.05) in a year.
The estimate from analysts are out ahead of the official (Wed) June 12th release date...
On Wed June 12th:
source: https://www.barrons.com/articles/fe...-wwdc-broadcom-oracle-earnings-stock-a54391b4The Bureau of Labor Statistics releases the consumer price index for May. Consensus estimate is for the CPI to increase by 3.4% year over year, matching the April data. The core CPI, which strips out food and energy prices, is expected to rise 3.5%, one-tenth of a percentage point less than previously.
This means the COLA would have been $0.0362 under the old contract--but is less than $0.05 which our union
Our union lost us about $61.00 based on 2040 hours a year. We previously had already give up the first 3%, but that is a complete mislead since it is now really about 3.5% albeit clearly worded.