Fruits of labor
Whether you were enjoying the sunshine at a parade, cooling down by the beach or pool, or just scoring some bargains in the sales, we hope you had an uplifting Labor Day weekend.
With so many celebrations, it's easy to forget the origin of the day as a national recognition of the achievements of American workers. More than 140 years ago, some 10,000 workers participated in the first parade, organized in New York City by the Central Labor Union, before the day was officially made a federal holiday in 1894 by President Grover Cleveland.
Although the role of labor unions has diminished dramatically in America — with just ~6% of private workers currently in a union — this year, organized labor movements in the US have been making waves. High-profile negotiations at UPS, Starbucks, within the automotive industry, US Steel, and the ongoing strikes in Hollywood have thrust unions into the spotlight. With the unemployment rate at or near multi-decade lows, and labor shortages in some key sectors, the relative bargaining power has, at least slightly, shifted back towards employees.
Interestingly, a recent Gallup poll found that, although the public approval rating of labor unions has slightly dropped, at 67% compared to 71% last year, overall support remains near a 50-year high.
