Fifth COLA Increase Announced
February 13, 2024
In accordance with the 2021-2024 Collective Bargaining Agreement, career employees represented by the APWU will receive a $0.17 per hour cost-of-living adjustment (COLA), effective March 9, 2024.
The increase is the result of a rise in the Consumer Price Index (CPI-W), and will appear in paychecks dated March 29, 2024 (Pay Period 07-2024). The COLA for full-time employees in each step and grade will amount to $354.00 annually, and the hourly rates for part-time employees will be adjusted accordingly.
COLAs are separate and in addition to general wage increases. This is the fifth cost-of-living increase under the 2021 contract. The first increase, effective in February 2022, amounted to $0.63 per hour or $1,310.00 annually. The second, effective in August 2022 was $1.18 per hour or $2,455.00 annually. The third, effective in March 2023, was $0.10 per hour, or $208.00 annually. The fourth, effective August 26, 2023, was 0.48 per hour, or $998.00 annually. The total cumulative COLAs received so far during the 2021-2024 National Agreement is $2.56 per hour, or $5,325.00 annually.
Though Postal Support Employees (PSEs) do not receive cost-of-living increases, they have received several additional increases beyond the general wage increases for all employees in the APWU bargaining unit under the 2021 contract. However, when PSEs convert to career, the COLA increases are also included in their base wages going forward.
Rising inflation underscores the importance of our negotiated Cost-of-Living Adjustments (COLAs) within our union contract, made possible by the strength of our membership. COLAs are our best protection against inflation. Postal Workers are some of the few U.S. workers who receive COLA increases. Even in the postal world, we are the only postal union that has maintained full COLA in our union contract.
“Once again, union-won COLAs prove how invaluable our contractual rights are to postal workers and our families,” said APWU President Mark Dimondstein. “We will continue to fight to maintain full COLA provisions in our upcoming contract.”
The Pay Scales effective March 9, 2024 have been released.
