The Guaranteed Annual Wage and Unemployment Compensation

Levinson, David
June 1954
Labor Law Journal;Jun54, Vol. 5 Issue 6, p387
Academic Journal
This article focuses on the traditional meaning of the guaranteed annual wage. The traditional meaning of the guaranteed annual wage is a guarantee of employment to the worker for at least a substantial part of a year. The CIO Electrical Workers in negotiations with management are about ready to formally present a demand for a guaranteed annual wage. Labor's version differs from the traditional. By a guaranteed annual wage, labor means unemployment benefits supplementary to benefits under the unemployment compensation laws. It also wants integration between the guaranteed annual wage and unemployment compensation so that the benefits paid under the latter are offset against benefits due under the former. Labor is impressed with the effectiveness of integration between private pension plans and old-age retirement. Such integration, it claims, has led to the liberalization of benefits under old-age retirement in both 1950 and 1952. If business conditions deteriorate measurably in the near future union demands for a guaranteed annual wage will be intensified, primarily because of the growing fear of unemployment and secondarily by way of the loss of the cost-of-living argument to sanction a straight wage increase.


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