Contract COLA: Accumulated COLA is $1,726 through June 2021
The projected accumulation toward the fourth regular COLA under the 2019-2023 National Agreement stood at $1,726 annually in July following the release of the June 2021 Consumer Price Index.
On July 13, 2021 the Bureau of Labor Statistics announced that the CPI for Urban Wage Earners and Clerical Workers (CPI-W, 1967=100) stood at 793.560 in June, 48.184 points above the base level of 745.376 in July 2019. The accumulated COLA through June stood at 83 cents per hour or $1,726 annually.
The fourth COLA will be based on the increase in the CPI-W between the base index month and July 2021, less any previously calculated COLAs, and will be payable the second full pay period following the release of the July 2021 index. The three COLAs that have been calculated under the 2019-2023 National Agreement, totaling 37 cents per hour, are as follows: 1st COLA, 8 cents per hour ($166 annually), 2nd COLA, 9 cents per hour ($188 annually), and the 3rd COLA, 20 cents per hour ($416 annually). The first three COLAs will be paid retroactively to their contractual effective dates.