Originally Posted by
The Lev
What makes you say their pay has lagged "well behind inflation"?
My understanding is that one of the pilot's beefs was that they were only getting 2% annual pay raises since 2014. FWIW, prior to the COVID inflation bump, that increase exceeded Canada's inflation rate.
Since 2014 the rate has been 0.94%, 1.91%, 1.13%, 1.43%, 1.60%, 2.27%, 1.95%, 0.72%, 3.40%, 6.80%, 3.90%. 2024 is current at 2.5% and will likely be closer to 2% by year-end.
That means that over the last decade, prices went up by 29.4%. If the pilots did in fact get a 2% annual increase, then their compensation increased by 21.9%, so they "deserve" a 7% pay boost as part of their settlement package to bring them back in line with inflation.
Your time periods and compounding aren't lining up. Setting aside the fact the pilot contract doesn't run on calendar years, you have more than 10 years of inflation to get to 29% - 24.3% is the comparable to the pilots' 21.9%. Or if you're using 29% as the inflated value, the pilot wages are up 24% cumulatively.
