Collective bargaining in private industry, 1994

In sum, for the last 3 years, bargainers have negotiated wage and compensation increases that have been lower, on average, than those agreed to the last time the same parties met, despite an improving national economy. While negotiators may have been taking their cue from economic conditions specific to their company or industry, rather than from overall economic conditions, the modest changes in compensation under 1994 settlements were similar to the moderate changes in compensation prevailing the economy.