One of the essential components of my platform are COLA Wages, which aims to ensure that our annual raises are permanently tied directly to NYC’s Cost of Living Adjustments (COLA). This plan includes an optional mid-year review to address any sudden economic changes, with a guaranteed minimum of 3% raises annually. This ensures that Stations employees are always fairly compensated, no matter how rapidly the cost of living increases.

Why they matter

• Keeping Up with the Rising Cost of Living: Living in New York City has become more expensive every year. In 2022 alone, the inflation rate in NYC hit 6.3%, the highest it had been in over four decades . Essential costs like housing, groceries, transportation, and healthcare have surged, while wage increases have failed to keep pace. Tying our raises directly to the NYC Cost of Living Adjustments (COLA) ensures that our wages increase alongside the real-world expenses we face daily.

• Minimum 3% Raise Annually: While inflation may vary from year to year, this guarantees a minimum raise of 3% every year, regardless of inflation levels. This gives every Stations employee the security of knowing their income will increase to help them manage the rising costs of living in one of the most expensive cities in the world.

• Optional Mid-Year Review: If inflation spikes unexpectedly, this initiative would allow for a mid-year review to adjust wages accordingly, ensuring that we aren’t left behind during times of rapid economic change. For example, the inflation rate jumped drastically in 2021 and 2022, putting a sudden financial strain on many households. By having the option to reassess mid-year, we can ensure that no Stations employee falls behind when the economy shifts unexpectedly.

The Economic Impact

• Wages That Rise with Inflation: Historically, wages have not kept up with inflation, leading to a decline in the purchasing power of workers. In 2022, real wages (adjusted for inflation) fell by 1.2% nationwide, meaning many workers earned less in real terms despite nominal wage increases . This initiative directly ties our annual raises to NYC’s official inflation rate, preventing our wages from falling behind as the cost of living rises.

• Stability and Predictability for Workers: By establishing a permanent link between wage increases and NYC’s Cost of Living Adjustments, we can ensure greater financial stability for all Stations employees. We won’t have to wonder whether our paychecks will stretch far enough to cover rent, groceries, utilities & other essential expenses. With guaranteed annual raises that reflect real economic conditions, we can better plan for our futures, save, and invest in our families and communities.

• Aligning with Inflation Trends: Inflation has been rising steadily in recent years, and projections show that this trend is likely to continue. By tying our raises to NYC’s COLA, we are future-proofing our wages, ensuring they stay aligned with inflation trends & making sure our union is proactive in protecting our economic well-being.

Why it Matters Now

• Proactive Approach to Wage Growth: This initiative isn’t just about reacting to inflation—it’s about being proactive. Instead of relying on reactive wage negotiations that may or may not match the cost of living, we’re ensuring that our wages automatically adjust to reflect the real economic conditions in New York City. With a minimum 3% raise, Stations employees can count on their income keeping up with inflation no matter the circumstances.

• Stronger Future for Stations Workers: Tying annual raises to inflation isn’t just a temporary solution; it’s a long-term strategy for protecting the economic health of our members. As inflation fluctuates, our wages will rise accordingly, ensuring we are never left behind. This initiative reflects our commitment to securing a stable, prosperous future for all Stations employees.

COLA Wages are about securing fairness and stability for every Stations employee. We know that inflation isn’t going away, and this plan ensures that our paychecks reflect the true cost of living in NYC. Together, we can make this initiative a reality and safeguard our financial future for the years to come. Let’s ensure that our hard work is rewarded and that we’re always compensated fairly, no matter how much the cost of living rises.