COLA is a 33 cent adjustment to top scale

[hexmurph]

So, assuming that the may CPI is about what April's was, then my calculations indicate a 65 cent raise this year

 

[Its_a_me]

So, assuming that the may CPI is about what April's was, then my calculations indicate a 65 cent raise this year

Check back to page 3 of this thread....I already calculated it out for everyone . Yes, I also said April's math equals $0.65.

I went further and estimated given inflation levels our COLA should be between $0.68-$0.75 when May's CPI-W arrives (as I believe your assumption is off and that May's CPI-W will come in higher than April's because at least gas prices went up and several others did as well). And I gave everyone the time and date when this number comes out June 10th @8:30 am ET.

 

[Coldworld]

Check back to page 3 of this thread....I already calculated it out for everyone . Yes, I also said April's math equals $0.65.

I went further and estimated given inflation levels our COLA should be between $0.68-$0.75 when May's CPI-W arrives (as I believe your assumption is off and that May's CPI-W will come in higher than April's because at least gas prices went up and several others did as well). And I gave everyone the time and date when this number comes out June 10th @8:30 am ET.

When would this go into effect???

 

[IVE GOTTA PACKAGE 4U]

When would this go into effect???

August 1st

 

[Coldworld]

August 1st

So we could be seeing a buck raise and then a .65 cola? I bet they try to hold that cola against us in the negotiations…especially if it comes out to be double or triple the last one.

 

[IVE GOTTA PACKAGE 4U]

So we could be seeing a buck raise and then a .65 cola? I bet they try to hold that cola against us in the negotiations…especially if it comes out to be double or triple the last one.

That's always been in the contract. But we've only gotten a small cola raise a few times because inflation has been bad over the past couple decades

 

[JL 0513]

DISAGREE.

The point of the GWI is not to keep up with inflation. It is to reward work, skill, and knowledge gained during that year which makes you a more valuable employee to the employer (through not having to pay to train your replacement and get them to your level if nothing else). COLA is there to not diminish those wage increases so that competitor X's wages look more attractive for that skilled employee to take his knowledge to.

Realistically, the GWI has basically just kept us up with inflation. If you compare top rate with the value of a dollar/spending power since the '90's, it's pretty equal. So there's no reward in terms of hourly pay for the years you put in.

 

[JL 0513]

.....

 

[Its_a_me]

That's always been in the contract. But we've only gotten a small cola raise a few times because inflation has been bad over the past couple decades

UPS doesn't pay COLA on the first 3% of inflation. Inflation year over year has been (measured Jan-Dec unlike UPS contract which is in May of every year--which skews yearly numbers)
2000 3.4%, tech bubble imploded
2001 1.6%, unpaid tax cuts then 9/11
2002 2.4%, war
2003 1.9%, Jobs and Growth Tax Relief Reconciliation Act of 2003 (Bush tax cuts)
2004 3.3%,
2005 3.4%, Katrina, destroyed refineries/oil prices
2006 2.5%,
2007 4.1%, Hedge funds hiding bad subprime derivatives, banking lending ceases
2008 0.1% Congress sets up a $700B fund to acquire toxic mortgages(TARP):a year later those mortgages losses were $1.16 trillion
2009 2.9%, ARRA stimulus of an additional $840B
2010 1.5%, Obamacare and Dodd-Frank
2011 3.0%, debt ceiling stalemate
2012 1.7%,
2013 1.5%, government shutdown
2014 0.8%, quantitative easing ends
2015 0.7%, deflation in energy costs
2016 2.1%,
2017 2.1%, UPS profit $50.60B
2018 1.9% UPS profit $53.29B up 5.31% from 2017
2019 2.3% UPS profits $56.377B up 5.79% from 2018
2020 1.4%, COVID, economic activity contracts 3.4%, UPS profits $64.05B up 13.61% from 2019
2021 7.0%, COVID supply shortages, UPS profits $71.939B up 12.32% from 2020

2022 UPS gross profit for the Q1 ending March 31, 2022 was $17.932B, up 4.02% from 2021

But somehow Hoffa negotiated the best contract ever?

That means you are losing 3% of your wages' purchasing power this year that the GWI must make up for. In addition you are losing out with regards to timing on these COLA wages (instead of being paid COLA starting on June 11th you must wait until Aug 1st. In fact June & July's rates will be in 2023's calculation). Other unions contracts when allowing a 3% inflator--notably John Deere's recent one--pays COLA on a quarterly basis to prevent decrease in purchasing power due to timing.

Realistically, the GWI has basically just kept us up with inflation. If you compare top rate with the value of a dollar/spending power since the '90's, it's pretty equal. So there's no reward in terms of hourly pay for the years you put in.

That's because the Union didn't negotiate a contract good enough. See above for example.

 

[IVE GOTTA PACKAGE 4U]

UPS doesn't pay COLA on the first 3% of inflation. Inflation year over year has been (measured Jan-Dec unlike UPS contract which is in May of every year--which skews yearly numbers)
2000 3.4%, tech bubble imploded
2001 1.6%, unpaid tax cuts then 9/11
2002 2.4%, war
2003 1.9%, Jobs and Growth Tax Relief Reconciliation Act of 2003 (Bush tax cuts)
2004 3.3%,
2005 3.4%, Katrina, destroyed refineries/oil prices
2006 2.5%,
2007 4.1%, Hedge funds hiding bad subprime derivatives, banking lending ceases
2008 0.1% Congress sets up a $700B fund to acquire toxic mortgages(TARP):a year later those mortgages losses were $1.16 trillion
2009 2.9%, ARRA stimulus of an additional $840B
2010 1.5%, Obamacare and Dodd-Frank
2011 3.0%, debt ceiling stalemate
2012 1.7%,
2013 1.5%, government shutdown
2014 0.8%, quantitative easing ends
2015 0.7%, deflation in energy costs
2016 2.1%,
2017 2.1%, UPS profit $50.60B
2018 1.9% UPS profit $53.29B up 5.31% from 2017
2019 2.3% UPS profits $56.377B up 5.79% from 2018
2020 1.4%, COVID, economic activity contracts 3.4%, UPS profits $64.05B up 13.61% from 2019
2021 7.0%, COVID supply shortages, UPS profits $71.939B up 12.32% from 2020

2022 UPS gross profit for the Q1 ending March 31, 2022 was $17.932B, up 4.02% from 2021

But somehow Hoffa negotiated the best contract ever?

That means you are losing 3% of your wages' purchasing power this year that the GWI must make up for. In addition you are losing out with regards to timing on these COLA wages (instead of being paid COLA starting on June 11th you must wait until Aug 1st. In fact June & July's rates will be in 2023's calculation). Other unions contracts when allowing a 3% inflator--notably John Deere's recent one--pays COLA on a quarterly basis to prevent decrease in purchasing power due to timing.

That's because the Union didn't negotiate a contract good enough. See above for example.

Well guess what buddy?
Hoffa is gone.

 

[Its_a_me]

Well guess what buddy?
Hoffa is gone.

But his contract still lives on until August 1st, 2023

 

[IVE GOTTA PACKAGE 4U]

But his contract still lives on until August 1st, 2023

For another year then we can fix it

 

[zubenelgenubi]

For another year then we can fix it

Be prepared for a bumpy ride. 's gonna get wild.

 

[Swanson]

Be prepared for a bumpy ride. 's gonna get wild.

Exactly, not going to be easy with the economy in the toilet.

 

[PT Car Washer]

Exactly, not going to be easy with the economy in the toilet.

No the sky is not falling chicken little.

 

[dogs.bite.me]

So is my math correct?

May 2022 inflation number is 288.022 - (May 2021) 271.52036 = 16.50164 x .05 give us a COLA of $.82.5?

Is that calculated right?

 

[Hadjabear]

So is my math correct?

May 2022 inflation number is 288.022 - (May 2021) 271.52036 = 16.50164 x 1.03 =16.9966892 x .05 give us a COLA of $.85?

Is that calculated right?

No you already added the 3% on 271.52 so 16.50164 x .05. 82 cents

 

[DELACROIX]

No you already added the 3% on 271.52 so 16.50164 x .05. 82 cents

So if COLA was not in place are real hourly raise would be only 18 cents after this May’s current inflation number. Those still on progression are they also getting the COLA increases?

 

[Hadjabear]

If Cola wasn't in place based on may cpiw from previous may is a 9.2% increase, gwi this year is $1.00 even with the Cola included $1.82 our wages don't keep with inflation. Those in progression won't see Cola increase until they get top rate

 

[dogs.bite.me]

No you already added the 3% on 271.52 so 16.50164 x .05. 82 cents

Ah I see. Fixed it.