Surname 1
Professor’s Name
Student Name
Course
Date
Workers Strike
On September 15th 2019; 50, 000 members of United Automobile Workers organized a
strike against General Motors for various reasons. The goals of the strike were to push for the
wage increase, reopening of idle factories, creation of more jobs, and reduce the wage gap
between the new employees and expert workers (Neal). The strike comes after the union’s
present bargaining agreement expired one day earlier. The strike was led by Terry Dittes; the
president of the union. However, following the intensity of strike, the company began
negotiations with the union on Monday morning.
The strike is likely to disrupt the local economies in various states such as Ohio and
Michigan. However, the effect of the strike on the overall economy will depend on its duration.
Even though the automobile industry is far from attaining its employment goals, it remains
significant to the economy of the U.S. Presently, nearly 220, 000 workers are working with the
automobile industry. Based on the Alliance of Auto Manufacturers, the entire motor industry is
associated with 9.9 million jobs and is responsible for nearly 3% of the GDP of the U.S.
The article is related to microeconomics as it is concerned with the individual decisions
of microeconomic units; company, and workers. Microeconomics deals with the study of
financial issues that affect microeconomic units such as firm, and single household (Diewert).
From a microeconomic perspective, the minimum wage that a company pays to the workers has
an effect on both parties. For example, in the scenario of this article, the workers are pushing for

+13062052269

info@desklib.com

Surname 1. Professor’s Name. Student Name. Course. Date

Contribute Materials

Related Documents

MACROECONOMICS.