What is 'Duration'. Duration is a measure of the sensitivity of the price -- the value of principal -- of a fixed-income investment to a change in interest rates. Duration is expressed as a number of years. Bond prices are said to have an inverse relationship with interest rates.
Now, an attractions employee of Walt Disney World who has put in, for sake of argument, 40 years with the company (yes, they exist, I have met many) after this contract will make $14.07 an hour (with additional $.50 per hour wage increases per year over the next three years).
Recently, the unions representing Walt Disney World have had very public rallies to attract media attention. Their goal is to change the current starting wage for Walt Disney World employees to $15-an-hour. Currently, that starting wage is $10-an-hour. This comes from a contract that was negotiated that started in September 2014 and expires in September 2019.