The negotiations between the United Auto Workers and the Big Three are40 percent wage hike over four years
The agreement struck after what was then the longest strike in half a century included a hybrid system of lump sum payments and annual wage increases. Every other year, workers would receive a lump sum payment equal to four percent of their wages. In alternate years,. This can be thought of as working out to around a 15 percent pay increase over the course of the contract.
than the national average, reversing the prepandemic period in which it was better. Year-over-year inflation peaked at nearly 10 percent last summer, nearly a full point above the nine percent for the national average.If inflation were to continue at 10 percent a year, a 10 percent per year raise would just keep UAW members even with the cost-of-living.
Members of the UAW hold signs outside of the UAW Local 900 headquarters across the street from the Ford Assembly Plant in Wayne, Michigan on September 15, 2023, after a strike was called.
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