wage round

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Wage Round

A periodic negotiation for pay rates between a company and its employees, especially if those employees are unionized. Wage rounds set how employee pay is to be determined until the next round.

wage round

see PAY ROUND.
References in periodicals archive ?
Money for the fund is supplied by an allowance from the 2012 wage rounds.
The wage increases measured in the quarterly sample taken in July were due mainly to higher wage rounds agreed in the chemicals and metals industries, the office said.
However, given recent rising inflation expectations, we suspect the MPC may prefer to wait until February to make sure that pay moderation is continuing in the early 2008 wage rounds.
Nevertheless significant price risks persist and inflation still seems set to rise further in the coming months, so much will depend on to what extent economic activity appears to be slowing, whether pay moderation continues in the early 2008 wage rounds and whether companies' pricing power appears to be waning.
The two most recent central wage rounds served the Finnish economy well as their outcomes kept cost pressures low and competitiveness strong.
Reflecting rising unemployment and profit squeeze, a consensus is building for lower wage settlements in 1993 than in the previous few wage rounds.
The empirical implementation in such studies, however, tends to be ad hoc, especially in identification of aggregate wage rounds and key bargains: Eckstein and Wilson (1962) defined the key group to be durable manufacturing, Vroman (1984) used the steel and auto settlements, and Christofides, Swidinsky, and Wilton (1980) tried a variety of specifications.
David Waller, Midlands' chairman of Pricewater-houseCoopers, said: "While the MPC will have been concerned by the inflationary pressure caused by the recent wage rounds, this was not the time to be making a further increase.
Howard Archer, chief European economist at Global Insight, said, 'We expect pay settlements to be higher in the 2007 wage rounds, but only modestly and not enough to alarm the Bank of England.
But these regularities (for instance, wage rounds, job clusters, and orbits of coercive comparison) are specific to time and place, and difficult to distinguish from the possible realizations of one or another stochastic process on the disturbances.
We expect pay settlements to be modestly higher in the 2007 wage rounds, but not enough to alarm the Bank of England.