Do you want to know why it is inexcusable for a union to agree to a nine year contract? Check out the increase in rents in NYC. This is from an August 16th story from DNA Info.
MANHATTAN— Yes, New York City is way less affordable now than seven years ago.
Case in point: An apartment going for $2,000 a month for rent in 2010 would now get $2,657 a month, a report published Wednesday from real estate search engine StreetEasy reveals.
Compounding the city’s affordability crisis: rents in the city rose twice as fast as wages, according to the analysis, which compared the StreetEasy Rent Index with wage data from the city’s Department of Labor.
While median rents increased 3.9 percent a year since 2010, wages increased by 1.8 percent over the same period.
Inflation eats away at raises. This is why to set a pattern of 10% total over 7 years and one month for city workers, as the UFT did in 2014, was a terrible deal. Put in the higher copays for medical care and we are worse off in the end under President Michael Mulgrew, even with a relatively low inflation rate. Also, remember that the 4%+4% salary increases that other city unions received from 2008-2010 we are only getting paid back for piecemeal through 2020. Much of the money will be coming back to us long after our interminable nine year contract expires at the end of November 2018. As each New York City area economics news story comes out, it becomes ever more clear that the 2014 UFT contract was, is and always will be financially underwhelming for us. Add in the lack of any taking back any of the teaching condition givebacks of 2005 and we will return to school in not so great shape.
On the other hand for those who want to look at the bright side, on October 15 we can finally spend 12.5% of the money that we have been owed since 2009. Our interest free loan to the city will be paid back to all of us who survive in the system or retire in installments in October of 2017, 2018, 2019 and 2020. Also, have a good time spending that $250 in Teacher's Choice money this year. (remember to save receipts.)
5 comments:
Many teachers are financially inept.
Correction...most teachers are financial fools.
Yes, and Mulgrew knows it.
Yes! All this is true. If you pull all our contracts and pay grades you will see that we do not beat inflation, with our "so-called" raises. We can't get access online(a whole other issue) to older pay scales and contracts, but I'm sure some of our seasoned vets have copies of them. pick a five year, ten year, fifteen year and twenty plus line and plot those against inflation. We would save a lot of time and energy if randi/mike just honestly said, "we will ask for cola and that's it." and we would be better off.
True story, As we were being pressured to vote yes for the previous contract, the unity borg came to my school to espouse the greatness of that contract. I said it does not beat inflation. The reply was, "that's one way of looking at it" I was flabbergasted and said, "how else should I look at it." silence was the reply.
btw, email me at drus90@gmail.com with past salary guides and I will try to assemble a spreadsheet and graph showing this.
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