The long list of financial payouts and perks packed into the UAW tentative agreements at the Detroit Three will shore up budgets for many middle class households.
UAW members are looking at a $5,000 ratification bonus before taxes. They're looking at record raises, including an 11% wage increase immediately upon ratification of the contract. And they'll benefit from much more in the weeks ahead.
Wage gains will even be better for some workers who aren't yet making the top rate.
Immediately upon ratification, for example, some Ford hourly workers who have three years seniority will see their pay jump by as much as $11.18 an hour — or by more than $23,000 a year. Others will see immediate pay hikes of $6.87 an hour — or a raise of more than $14,000 a year immediately, according to a chart in the Ford highlighter published online by the UAW.
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