Unionized wage increases surpassed inflation this year, for the first time since 2020. Will unionized employees keep pushing for higher wages in 2025 to make up for the conservative gains and wage freezes of 2021-2023? With inflation coming down and interest rates following this trend, will annual wage increases close the gap between the losses in real wages experienced during the period? If so, can employees expect to see this gap narrow in the coming year? And what can we expect to see in relations between unions and management at the bargaining table?
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Key findings
The impacts of high inflation are a not-so-distant memory
Cash is still king for short-term incentive plans
Cooperative bargaining climate
Over 100 collective agreements were settled in 2023
Final thoughts
Appendix A: Methodology
Appendix B: Glossary
Appendix C: Respondent profile
Appendix D: Participating organizations
Appendix E: Bibliography
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