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What’s going on with the UAW strike?
For the first time in 88 years, the United Auto Workers at the Detroit 3 – Ford, GM, and Stellantis – are all on strike. The UAW is demanding fair wages among an evolving automotive industry that threatens to devalue labor with the rise of electronic vehicle production. But with uncertainty about how long the strike will go on — and which plants the UAW might opt to take down next — auto dealers are likely to hold supply close to their chest and exacerbate vehicle prices for potential buyers.
TAKING A STAND
Autoworkers at the Detroit 3 began their strike in mid-September after their demands for a revised four-year contract were not met by Ford, GM, and Stellantis. The labor stoppage could cost major companies upwards of 5 billion dollars in ten days.
THE FIGHT FOR FAIR PAY
The UAW strike spans beyond a matter of fair wages – strikers are sparking conversation about the growing gap between the working class and the ultra-rich. Auto workers at the Detroit 3 are demanding increased wages, shorter work weeks, and cost of living adjustments in the face of their employers, which are raking in billions of dollars.
RISING TENSIONS
With the historic unionization of the Detroit 3 and billions of dollars at stake, all eyes are on politicians’ response. President Joe Biden’s economic response to the strike could make or break his re-election while Bernie Sanders continues to emphasize the necessity for labor adjustments and the introduction of the four day work week.
Shortly after Joe Biden launched his 2020 presidential campaign, his first major rally was held at a Teamsters union hall in Pittsburgh, where he extolled the virtues of middle-class Americans.
This country needs to seriously consider cutting back the hours that people have to labor at their job, Vermont Sen. Bernie Sanders told CNN on Sunday, suggesting the 40-hour workweek is at least partly to blame for Americans' declining life expectancy.
LASTING IMPACT
The UAW strike has taken car buying from bad to worse. As the strike goes on, it threatens to bring vehicle prices sky high and cost the overall economy billions of dollars.
