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Maybe I'm becoming too cynical, but the raises these unions have been settling on don't really cover inflation over the periods where they received no increase.
These articles just feel like the media wings of these megacorps are trying to stroke our egos. "Yes, so much bargaining power!"
I can't find the article I'm thinking of where someone used a bunch of privately sourced data to peg the average annual inflation at 7%, but this article shows how economists don't even agree on what metrics to measure for calculating inflation.
https://www.investopedia.com/articles/07/consumerpriceindex.asp
This is definitely not accurate. 7% compounding inflation every year is significantly more purchasing power lost than anything we've seen.
Only takes 12 years for cost to double like that, right?
By the "rule of 72" it's doubling a little over every 10 years.
That's what I'm thinking of, ty