Long-term effects of the coronavirus pandemic are beginning to pop up in labor agreements as businesses specifically point to the crisis in contract language and average employee pay bumps become more muted.
The average wage increase unions negotiated in the first year of their collective bargaining agreements so far this year fell a tenth of a percentage point to 3.3%, according to Bloomberg Law data. That’s the lowest the figure has been since early January when limited numbers made the figure more prone to movement.
The figure is based on 249 contract settlements added to Bloomberg Law’s database since the ...