Modern Labor Stoppages Impact The Economy At Historic Levels

Strikers protesting in a crowd
Via duclarion
Tremain Prioleau II
September 27, 2023

Summer 2023 has been filled with labor strikes. Industries from Hollywood to  automobiles have seen work stoppages that have greatly impacted the production of their respective goods and services.

Inflation is one of the biggest causes of this current labor strike rise, and it is steadily increasing, rising 0.3% in August. Workplace flexibility and better pay are becoming standard worker demands as it continues to take more dollars to meet basic needs.

The Biden administration so far has not seen these labor strikes as a threat to the overall economy. But Americans are feeling the effects in their pockets. Supply chain issues are increasing and spending is going down especially among  striking workers.

Major labor strikes are expected to run into the fall. The United Auto Workers Union (UAW) is the latest to make demands of their employers. The UAW recently announced an expansion to their strike, expanding stoppages to 38 distribution centers.

Economic leaders such as Treasury Secretary Janet Yellen are calling for labor disputes to end in a win-win situation for both sides. Time will reveal how many of these labor stoppages will end.

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