At the end of 1964, wholesale prices had been relatively stable for some years.
More Quotes from Leonard Woodcock:
Well, first of all the Dominion Bureau of Statistics made a survey in the spring of 1970, which showed that on balance the difference in the cost of living between Canadian cities and American cities was 5 % to the advantage, of course, to the Canadian cities.Leonard Woodcock
And so we said to General Motors that the solution had to be a first year increase, which had to be sizeable because we bad to catch up with the lost position as against the cost of living and we had to make some progress.
Leonard Woodcock
Now, wages in the automobile industry are made up of two components, what we call base rates and the cost of living factor which is fed in by the operation of the escalator.
Leonard Woodcock
We made a demand for the the same wage rates to be paid in the Canadian plants as in the U.S. plants.
Leonard Woodcock
Wholesale prices, on the other hand, began a slow rise in the early months of 1965, which were sharply accelerated in the summer and fall of 1965.
Leonard Woodcock
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