Attitude of American Labor Unions toward the Guaranteed Annual Wage Plan

A guaranteed annual wage has been defined as "any plan in which an employer guarantees to all, or to a definite unit or group of his employees, a wage or employment for a specified period of time." However, the famous Latimer Report limits guaranteed wage plans to those which guarantee to employees work or wages for at least three months in a year. In the vast majority of guaranteed wage plans now in existence, employment is guaranteed for a specific number of weeks per year and hours per week, usually less than fifty-two weeks per year and forty hours per week.