annual improvement factor


Definition of annual improvement factor

: a provision in a labor contract calling for an annual increase in the hourly wage rates of the workers so as to provide a constantly rising standard of living

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First Known Use of annual improvement factor

1948, in the meaning defined above

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The first known use of annual improvement factor was in 1948

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Cite this Entry

“Annual improvement factor.” Dictionary, Merriam-Webster, Accessed 14 Aug. 2020.

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