As U.S. inflation hit a 40-year high of 8.6%, critics of cost-of-living wage adjustments – changes in pay meant to offset inflation – saw COLAs as further fueling price increases.
Last November, John Deere's union employees ended a strike of more than a month after winning a contract that included a 20% increase in wages over six years and more retirement benefits. Particularly, it brought back cost-of-living adjustments, with Deere employees’ wages to be adjusted every three months.
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