The United Auto Workers strike is unlikely hurt the economy much. But it could encourage other unions to bargain more aggressively.
The “summer of strikes” is spilling over into autumn as the United Auto Workers announced targeted work stoppages against the Big Three Detroit automakers after failing to reach new labor contracts.
Earlier, UPS narrowly avoided a strike with the International Brotherhood of Teamsters union that represents more than 300,000 full- and part-time workers in July. The parcel delivery giant agreed to a deal that included hefty wage increases for full- and part-time employees, as well as improved working conditions.
Americans did capture some wage increases in recent years, but inflation offset much of those gains. The inflation-adjusted median household income fell 8.8% in 2022. That’s recovering somewhat in 2023, but unionized workers have been particularly hard-hit given their wage agreements were made before inflation spiked. UAW says auto workers have only seen 6% annual wage gains since 2019.
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