Unions in the second quarter negotiated the highest average first-year pay raise since the end of 2008, according to an analysis of Bloomberg Law’s database of U.S. wage settlements.
Collective bargaining agreements provided average wage increases of 3.3 percent in the second-quarter of 2018, up from 2.9 percent in the previous quarter.
Union-negotiated wage hikes haven’t been this high since the fourth quarter of 2008, when the effects of the recession and economic crisis were just starting to be felt in newly bargained union contracts. The average first-year increase reached a low point of 1.1 percent in third-quarter 2011 ...
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