Labor victories such as the tentative deal between the United Auto Workers and Ford are a boon for take-home pay amid other encouraging economic news.
President Biden addresses striking members of the United Auto Workers at a picket line outside a General Motors plant in Belleville, Mich., on Sept. 26. of a tentative agreement on a generous new contract between Ford and the UAW , the union’s leadership will reap credit for aggressive bargaining and targeting excessive CEO salaries. Biden will get kudos for helping working Americans maximize earnings..
Other union wins included reinstating cost-of-living allowances, eliminating wage tiers and speeding up wage progression. “We told Ford to pony up, and they did. We won things nobody thought was possible,”Thursday that the economy grew 4.
The tentative UAW agreement is not an isolated occurrence for labor. While 2023 saw an uptick in strikes, those work actions paid off. “Across the U.S., labor unions are winning surprisingly large contract settlements as workers have reset their expectations to demand considerably more than they did just a few years ago, and that has in turn pressured many corporations to reset — and increase — the pay packages they are giving in union contracts,”.
The strikes and major gains for workers also come as workers are making strides in organizing workplaces that previously resisted unions . When unions strike and make significant gains, other employees become motivated to organize as well.
Democrats have long attacked “trickle-down” economics as disproportionately benefiting a few at the top while leaving workers behind. Given Biden’s emphasis on building the economy from the “bottom up and the middle out,” these deals signal some success in addressing the enormous disparity between the salaries of CEOs and ordinary workers.
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