A new wage agreement calling for an immediate 7.5 percent increase in wages retroactive to April, was ratified by the Histodrut Executive today. The agreement was signed Friday by Histodrut and the Manufacturers Association representing employers. Another 7.5 percent wage hike will be paid later in the fiscal year, probably in October.
In addition to the wage boost, workers will receive a 17.9 percent cost-of-living allowance which will raise their total income by 26.7 percent next month. This will be made possible by adjusting the income tax tables to the new c.o.l. index.
With the retroactive pay increase for April, May and June included, salaries in July will rise by IL 10,000. The government is expected to approve the same rates of increase for public service employes although it may try to create some differential between production workers and service workers.
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