Wednesday, October 17, 2018

Your good news of the day: U.S. Steel workers set to get biggest pay raise in years

United States Steel Corp workers are set to get the biggest wage jump in at least six years under a new deal negotiated with the company, providing early signs that gains from U.S. President Donald Trump’s clampdown on foreign imports are finally trickling down.

Can't come soon enough for all the pain these guys have had to endure.

That money will trickle down all through the community.

Trump’s restrictive trade policy, coupled with a strong economy, has sent domestic steel prices soaring, helping U.S. Steel post a near 60 percent increase in pretax profits in the June quarter. 
The deal, which needs to be ratified by 16,000 workers across the country, comes days after U.S. Commerce Secretary Wilbur Ross called steelmakers to share the profits from high steel prices with their workers. 
Here we see clear encouragement from the administration to share the profits with the voters.  Trump is no fool.
It comes at a time when U.S. wages are growing at the fastest pace in more than nine years, also very good news for everyone.

1 comment:

  1. My sense is that the US steel workers are not tired of winning.

    ReplyDelete