Thursday, September 15, 2022

Increasing inflation by a wage price spiral... will you receive these wage increases?

Biden CAVES to rail unions to avoid catastrophic strike and hands out immediate $11K bonus and a 24% wage increase - amid fears industrial action would have cost economy $2B per day

  • Biden said on Thursday that a 'tentative' deal has been reached between US freight rail companies and unions 
  • It averts a potentially devastating strike costing $2B per day before the pivotal midterm elections 
  • Workers will get a salary increase of 24% through 2024 and an immediate average lump sum of $11,000 
  • Biden hailed the deal for avoiding a shutdown and as a win for all sides

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