Posts tagged productivity gains
Opinion: Union Victories First, Job Losses Later
August 6, 2024 // But the UAW conveniently ignores its contribution to the job losses. The union halted work for a month at Deere in 2021, and the company acquiesced to a blockbuster contract. Employees received a 20% raise over five years, plus an $8,500 bonus and annual adjustments for cost of living. The strike paid off for union workers in the short term, but the increase in labor costs made layoffs more likely if harder times struck. You won’t hear about this latest turn from President Biden, who sent his agriculture secretary to the picket line to cheer on strikers in 2021. Mr. Biden calls himself the most pro-union President in history, and he happily claims credit for union wins.
Worker productivity saw its biggest drop since 1947 in the first quarter—but experts say the headline figures don’t tell the whole story
May 9, 2022 // American workers’ productivity dropped sharply in the first quarter of 2022, notching the largest three-month decline since 1947. Non-farm productivity, which measures worker output against hours worked, sank 7.5% from January through March, the Bureau of Labor Statistics reported on Thursday.