U.S. Steel workers' wages to rise 14 percent in new four-year contract

[left-of-center2012]

The new contract between U.S. Steel Corp (X.N) and its workers proposes to increase wages by 14 percent over a four-year period, three sources familiar with details of the negotiations told Reuters on Tuesday.

This would be the biggest pay increase for the workers in at least six years. They went without a wage hike in the last contract which ended on Sept. 1.

The Pittsburgh-based steelmaker reached a tentative agreement on Monday with the United Steelworkers (USW) union, representing 16,000 workers across the country.

The new contract also proposes a lump sum bonus and a share in the company’s profits, the sources said on condition of anonymity to discuss the confidential deal. The workers will retain healthcare benefits from the last contract, which did not require them to pay a premium.

https://www.reuters.com/article/us-usa-economy-budget/u-s-government-posts-widest-deficit-since-2012-idUSKCN1MP28I

[AJT]

1. Gee, I wonder who will take the credit for this.....and the steel workers will buy it.

[Freethinker65]

2. Good for them. They will need it to offset future cuts to their Social Security and Medicare

And to pay for price increases resulting from Trump's tariffs.

The steel workers will be better off than the majority of workers that see no real benefits from the tariffs.