wage restraint


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Wage Restraint

An agreement between an employee and an employer not to demand wage or salary increases. Wage restraint may occur when a company is facing losses or lower profits and needs to live within its means. The employee may receive concessions (such as better health insurance) in exchange for wage restraint.

wage restraint

see PRICES AND INCOMES POLICY.
References in periodicals archive ?
The main deficit-reducing measures are the increase of the VAT rate, continued reforms of energy subsidies and wage restraint.
After years of wage restraint, Germans have become more aggressive in their demands for higher pay over the last couple of years, resulting in a higher number of strikes.
Labor needed union support for wage restraint, and that support was contingent on the restoration of universal health insurance in Australia," say Boxall and Gillespie.
Climate change, building on the flood-plain, global pandemics, wage restraint, government borrowing are all cutting-edge topics from the reign of Edward III, not to mention that of Elizabeth II.
THE pay of public sector workers has fallen below that of employees in private firms after years of wage restraint because of government policies, official figures have shown.
A CHARITY claims household budgets are "at breaking point" due to rising costs and wage restraint.
In the real world away from Westminster, people are being pushed to the edge of a cliff by wage restraint, austerity budgeting and the rising cost of living, caused by food inflation and unjustified power price hikes.
A one-off pay increase at a time of public sector wage restraint was "not on", he added.
Germany shed the label of "sick man of Europe" after reunification in 1990 partly through years of wage restraint that made it more competitive.
Planned fiscal reforms focus on increasing fiscal space for critical investment and social spending through wage restraint and subsidy reform, while social safety nets will be strengthened.
The province is asking public sector employees for wage restraint in tough economic times in order to reign back its huge unsustainable deficit.
Policy induced wage restraint in the private sector has the direct result of weakening the morale of workers leading to industrial unrest.