Second quarter 1995, Major Collective Bargaining Settlements in Private Industry (Quarterly) — 1995-07-25

Major collective bargaining settlements reached in private industry during the second quarter of 1995 called for annual changes in wage rates and compensation over the contract term that were lower, on average, than were specified in the agreements they replaced, the U.S. Department of Labor's Bureau of Labor Statistics reported today. This relationship has existed for 11 consecutive quarters, with the exception of the fourth quarter of 1993 when changes in compensation rates were the same for current and replaced contracts. The Bureau's series on major collective bargaining statistics covers bargaining units of 1,000 or more workers, while the data on compensation changes relate to bargaining units of 5,000 or more workers. Settlements in the second quarter of 1995 specified wage rate changes averaging an increase of 2.1 percent in their first year and 2.2 percent annually over their contract term.