Is 3% still considered standard, or have most recent cost-of-living increases reflected a higher annual percentage rate?
2006-12-30 00:56:33 · 7 answers · asked by Curious 1 in Social Science ➔ Economics
(From economics class) Wage increases are generally based on the CPI (consumer price index), and tend to be quickly reflected in inflation, which can lead to a cost-of-living/hyper-inflationary spiral. The government (at least in Europe and Canada) tries to keep inflation around 2% per year (by adjusting the bank rate) and it usually stays between 1% and 3% so that would seem like a reasonable cost-of-living increase rate.
Personally, as a member of a women's union I receive no cost-of-living increases per se; in fact my salary only seems to go up at all when we strike.
2006-12-30 03:41:55 · answer #1 · answered by Eclectic_N 4 · 0⤊ 0⤋
The COLA calculation is normally based on the annual rate of inflation and the actual calculation varies by employer/union.
2006-12-30 09:04:43 · answer #2 · answered by Anonymous · 0⤊ 0⤋
It actually depends on the country. A 2% increase is fine in a developed country. upto 5% is Ok in a developing country.
2006-12-30 09:03:00 · answer #3 · answered by Rammohan 4 · 0⤊ 0⤋
The COLA cost of living allowance or cost of living index is often compared to the consumer price index.
2006-12-30 09:08:21 · answer #4 · answered by QuiteNewHere 7 · 0⤊ 0⤋
4% this year.
The cost of petrolium has risen beyond that among many other items. The average cost of a home has risen beyond that as well.
Good luck getting that from Most employers.
2006-12-30 09:02:11 · answer #5 · answered by pickologist 3 · 0⤊ 0⤋
2% or 3%...
2006-12-30 09:05:38 · answer #6 · answered by chazzer 5 · 0⤊ 0⤋
With my boss it's zero
2006-12-30 09:03:09 · answer #7 · answered by Az Rastaman 3 · 0⤊ 0⤋