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Cost Of Living Chief Sees Bigger 1974 Wage Settlements
Washington AP. Cost of Living Council Director John T. Dunlop forecast bigger contract settlements in 1974, signaling a potential relaxation of pay guidelines. He expects higher settlements than last year’s 5.6 percent average, but opposes Phase 5 wage price controls while not ruling out extending Phase 4 if authority persists. He noted possible lifting of price controls in some industries, and warned of continued wholesale price gains and rising retail food prices. He projected substantial wage increases amid inflation, a tight labor market, and strong industry profits, with militant demands from labor groups in 1974.
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Washington
John T. Dunlop
Cost of Living Council
Dunlop