What will UAW's labor deals with automakers mean for workers, automakers, and consumers?
The United Auto Workers' strike against the Big Three automakers was the biggest strike in years, and it threatened to cripple the U.S. economy had it dragged on. It appears the UAW got a big win in deals with Ford, GM, and Stellantis, securing big pay and benefits increases, and stronger job security, bringing an end to their strikes. Now the automakers are facing sharply higher labor costs, estimated by some analysts at exceeding $1 billion per year, per company.