The Rise of The Unions
Even in the 21st century, labor unions remain socially significant as employees continue to battle against what they deem to be unfair business practices. Beginning earlier in the summer, news of Hollywood writers going on strike flooded mainstream media, with the Screen Actors’ Guild and other groups joining the fight against corporate Hollywood. With this fight ongoing, hundreds of other protests have led to a year ridden with employee-to-employer conflict. Data collected by Cornell University found over 320,000 workers to have participated in at least 230 strikes in 2023 as workers continue to find balance in compensation, working conditions, and other realms of welfare.
From these countless strikes, several have already succeeded in increasing their pay and their livelihoods. The UPS workers’ union is one of these labor groups, which has acquired benefits and pay for up to $170,000 for delivery drivers. Another group to have success from strikes were airline workers, with employees at supplier Spirit AeroSystems winning increased compensation in June. Now, ongoing strikes such as the mentioned writers and actors of Hollywood and even auto workers continue to be in negotiations. For actors and writers, not only are benefits and increased wages on the table, but intellectual property rights to combat AI have led the forefront of all dealings. The United Auto Workers group, which is comprised of 150,000 members, is in the middle of national bargaining breakthroughs. With the year already comprising 16 work stoppages, all Americans hope that peace in the form of positive deals can arrive between the millions of employees and their employers across the nation.
Want to learn how to invest? Download the Invstr app, where you can play Fantasy Finance and manage a virtual investment portfolio or open a brokerage account and invest for real. Take our interactive investing course on Invstr Academy and become a better investor today!
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.