Union Time
Unions are one of the most vital parts of businesses in the United States. It allows workers to have a larger say in the company, and it helps shield them from mistreatment as they can go on strike. Notably, many large, disruptive companies like Apple, Tesla, and Amazon are not unionized as they find them economically useless. However, things have changed at Amazon, showing a major step in the economy while also revealing a growing trend.
In Staten Island, New York, Amazon workers voted to form a union with growing momentum from workers. Led by Chris Smalls, this multi-year campaign has led to the result they’ve been looking for, and this has possibilities to spur other union efforts by Amazon workers across the country. For example, a vote is currently being held at an Alabama factory on unionization, with the result too close to call. Amazon was unhappy with this as they believe that the lack of unions has allowed them to make decisions like wage increases quicker, with the wage currently sitting at $18 per hour. Along with that, people believe that union success in Amazon could lead to increased labor costs and the slowdown of their rapid-delivery service, which could hurt the company. However, this was a win for pro-union activists across the country, along with President Biden, who says he completely supports the idea of unionization. Workers from other companies have already gone on strike for higher pay, with examples being Deere and Kellogg, and the movement is in full force, although there’s yet to be data showing that the union population is increasing.
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.
