The United Auto Workers union is on a historic simultaneous strike against Detroit’s big three automakers, and noted economist Mohamed El-Erian commented on a report that showed even ahead of UAW’s walkout, the pace of labor strikes has quickened to a level not seen since 2020.
What Happened: Labor stoppages from strikes led to 4.1 million missed days of work in August, marking the biggest total since Aug. 2000, a Wall Street Journal report said, citing Labor Department data.
The surge seen last month followed strikes by Hollywood actors and writers, with the Screen Actors Guild-American Federation of Television and Radio Artists along having 160,000 members and the Writers Guild of America with about 11,500 members, it said.
The report also noted that the UAW has been involved in over 60 work stoppages involving 1,000 workers or more. The union ...