ECONOMIC ADJUSTMENT. Pursuant to this Contract, the price for the Goods and/or Services may include labor costs and/or parts costs. Prices for parts shall be fixed and as set forth in Exhibit B – Prices for Goods/Services. Prices for labor, however, are subject to economic adjustment as set forth below. Beginning twelve (12) months after the effective date of this Contract and for every annual anniversary thereafter, the hourly labor rate prices set forth in Exhibit B – Prices for Goods/Services shall be adjusted, based upon the percent changes (whether up or down) in the United States Department of Labor, Bureau of Labor and Statistics (BLS) index CEU8081110003 – average hourly earnings of all employees, automotive maintenance and repair, not seasonally adjusted, for the most recent year. Economic adjustment will lag one
Appears in 5 contracts
Samples: Maintenance and Repair Services, Vehicle Maintenance and Repair Services, Maintenance and Repair Services
