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May 23, 1953

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Headlines from May 23, 1953

G.M. Lifts Pay, Rewrites Pact Though It Had 2 Years to Run; G. M. RAISES WAGES, REWRITES ACCORD

By Special to THE NEW YORK TIMES

co agrees to rewrite pay provisions of 5-yr UAW escalator pact now, 2 yrs before expiration; 19ยข an hr of 24ยข cost-of-living allowance transferred to base rate to keep rates from dropping more than 5ยข an hr at any time; annual improvement or 'productivity' factor raised to 5ยข an hr; rates of 40,000 skilled tradesmen raised 10ยข an hr; pay escalator geared to new consumer price index; both sides comment; pact seen setting indus pattern

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Historical Context for May 23, 1953

In 1953, the world population was approximately 2,634,106,235 people[โ€ ]