UAW (United Auto Workers) is in the middle of a strike against the three major American manufacturers, FORD, GM, and Stellantis (Chrysler). Chrysler and GM received billions of bailout money during the financial crisis of 2008. History may repeat itself as auto workers are asking for a 40% raise. Ford, GM, and Stellantis are placing a 21% raise on the table as a counter-offer. Both sides appear to be worlds apart. Even if there is an agreement, the inevitable result will be inflation in the auto industry. New cars are already venturing into the unaffordable territory. An increase in labor costs will only worsen this already existing problem.
SOURCES:
Live updates: United Auto Workers, UAW, go on strike against GM, Ford and Stellantis
Ford could face strike in Canada, adding to US labor pressure | Reuters
UAW strike, Day 4: GM threatens to send 2,000 workers home, Ford cuts 600 jobs : NPR
Michigan Democrats urge Biden to beat Trump to UAW picket line – The Washington Post
UAW strike: Stellantis ups offer; Ford, GM to lay off workers due to ripple effects
UAW strike: Stellantis could close 18 facilities under deal
Biden Defends Striking Autoworkers: They Deserve a ‘Fair Share’ – The New York Times
