by silvertomars
Workers at UK’s largest container port goes on strike for 8 days after rejecting a pay increase of 7%… this would represent a real pay decrease as UK inflation is running at 9.4% and BOE is expecting inflation to hit 13%…
Workers at the UK’s biggest container port will go on strike for more than a week later this month in a dispute over pay.
More than 1,900 members of Unite union at Felixstowe will strike for eight days from Sunday 21 August until Monday 29 August.
The union said that employer Felixstowe Dock and Railway Company had failed to improve on its offer of a 7% pay increase, following only a 1.4% increase last year.
Almost half of the UK’s container traffic comes through Felixstowe and Unite said the action would hit supply chains, the logistics and haulage sectors, as well as international maritime trade.
It is the latest round of industrial action by workers pushing for pay to keep up with the cost of living.
Good morning from #Germany, where the risk of a wage-price spiral is rising. Lufthansa seals a very expensive ground crew wage deal to avert further walkouts. Check-in staff will get between 13.6% and 18.4% more pay. pic.twitter.com/9Hw8T0ap3T
— Holger Zschaepitz (@Schuldensuehner) August 5, 2022
Economist @graceblakeley says raising interest rates won't help control inflation, because inflation is being driven by rising energy prices. Grace is also clear the idea of a wage price spiral is nonsense – workers demanding wages in line with inflation need to be supported #GMB pic.twitter.com/DTQZS35fOU
— Saul Staniforth (@SaulStaniforth) August 4, 2022
Are there no summer interns at the Fed that can show Chairman Powell how payrolls expanded during the first 8 months of the 1973-75 recession & explain why you need to adjust wage growth for inflation? pic.twitter.com/Eu9VMTkl7S
— Charlie Bilello (@charliebilello) August 4, 2022
#ausbiz #inflation#Australia's wage cost index had been ahead of CPI for the majority of the past 5 years. 2022/2023 going to be tough for many. pic.twitter.com/sYm7pQG39H
— Tim 🇦🇺 (@MillennialMacro) August 5, 2022