The Run-Down: After 20 hours of negotiations, U.S. railroad companies and unions reached an agreement that ended the potential nationwide shut down
- Under this new agreement, workers salary will double and they will be allowed to seek certain types of medical care without fear of retaliation
- The shutdown could have frozen 30% of U.S. cargo shipments and cost the U.S. economy as much as $2 billion per day, all while contributing to the already concerning inflation rates
Why You Should Care
After a two year negotiation period, an agreement was reached that literally saved the U.S., and bordering countries, from catastrophe. The railroad industry, who’s faced a 30% decrease in its workforce, has seen an increase in profits, despite cuts to pay and other costs.
Workers were fed up, seeing billionaires make more money as they lost out on it, all while working more hours with less resources. This strike came on the heels of an economic downturn caused by the pandemic that was immediately met with an oversupply of employment opportunities.
While it may seem like the railroad industry is niche specific – this situation is a reminder of the power of the workforce. A group of employees banded together, with the help of union leaders, to demand their needs be met. Had these negotiations not gone through, citizens across the country would have been feeling the negative impact.