One-Year Reduction in Wages of Railroad Labor
Acceptance by the twenty standard railroad unions of a 10 per cent “deduction” from the wages of their members for a period of one year, beginning February 1, 1932, has been followed by a widespread movement among employers of union labor for a general downward revision of union wage rates. Reductions of the wages of unorganized labor and of clerical workers have been in progress for eighteen months or more. Impetus was given the wage reduction movement in “open shop” industries five months ago by the announcement of the United States Steel Corporation that the wage rates of its employees would be lowered by 10 per cent on October 1, 1931. This action was followed by corresponding, or ...