annual improvement factor

noun

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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Dictionary Entries Near annual improvement factor

annual epact

annual improvement factor

annual increment

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Cite this Entry

“Annual improvement factor.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/annual%20improvement%20factor. Accessed 1 Aug. 2021.

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