annual improvement factor

noun

: a provision in a labor contract calling for an annual increase in the hourly wage rates of the workers so as to provide a constantly rising standard of living

Word History

First Known Use

1948, in the meaning defined above

Time Traveler
The first known use of annual improvement factor was in 1948

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Dictionary Entries Near annual improvement factor

annual epact

annual improvement factor

annual increment

See More Nearby Entries 

Cite this Entry

“Annual improvement factor.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/annual%20improvement%20factor. Accessed 26 Nov. 2024.

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