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Brown Cafe UPS Forum
UPS Union Issues
Wages and inflation
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<blockquote data-quote="35years" data-source="post: 5147320" data-attributes="member: 60822"><p>Inflation is at 7%.</p><p>Our wage increase in August 2021 of $.90 + $.33 (COLA) = $1.23</p><p>$1.23 increased our wage from $38.44 to $39.67</p><p></p><p>That is a 3.2% increase...<strong>Or a DECREASE of 3.8% in buying power</strong>, even with the COLA.</p><p>To keep pace with inflation we should be at $41.13</p><p></p><p>Our negotiated COLA increase last contract was abysmal.</p><p>----------------------------------------------------------------------------</p><p>In August 2022 we will get a dollar and perhaps a $.40 COLA.</p><p></p><p>That would bring us to $41.07 at contract end 2023</p><p>At 7% inflation we would need to be at $47.09 at contract end 2023 to have 2020 buying power. </p><p></p><p>Are we gong to get an immediate $6 wage increase at the beginning of the new contract?</p><p>And $3-$5 increases each year?</p><p>That is just keeping pace.</p><p></p><p><strong>To keep our buying power even with 2020 we would need to be at $66.05 for a 5 year contract at 7% inflation:</strong></p><p></p><p>Year Wage Rate</p><p>2020 38.44</p><p>2021 41.13</p><p>2022 44.01</p><p>2023 47.09</p><p>2024 50.39</p><p>2025 53.91</p><p>2026 57.69</p><p>2027 61.73</p><p>2028 66.05</p><p></p><p>I will be retired. But you guys need a REAL COLA or huge wage increases to keep pace.</p></blockquote><p></p>
[QUOTE="35years, post: 5147320, member: 60822"] 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...[B]Or a DECREASE of 3.8% in buying power[/B], 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. [B]To keep our buying power even with 2020 we would need to be at $66.05 for a 5 year contract at 7% inflation:[/B] 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. [/QUOTE]
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