Labour costs account for 76% of company costs, so strikes could lead to lower profit margins
Workers picket outside the Ford assembly plant in Chicago: the number of US workers on strike is at 23-year highs. Photograph: Jamie Kelter Davis/The New York Timeshave resulted in share price bloodletting of late, and other sectors may also have to contend with a resurgent labour movement., so expanding strike action – the number of US workers on strike is at 23-year highs – could drive higher wages and lower profit margins.
Importantly, this will likely play out over many years, with the power gap continuing to shrink “for the rest of the decade”. That’s good news for workers but not, judging by recent trading in GM and Ford shares, for shareholders.
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