How does labor/laborers affect the economy? [p.486-489] Question of the day How does labor/laborers affect the economy? [p.486-489]
The hands that generate profits Organized Labor The hands that generate profits
Labor Labor Unions Jimmy Hoffa Mediation Arbitration Strike Lock out Key vocabulary terms: Describe and explain the following terms in your own words based on what you learn. Labor Labor Unions Jimmy Hoffa Mediation Arbitration Strike Lock out Taft-Hartley Act
Labor Laborers of all types do the work required to generate profit for companies. Large corporations often employ hundreds and even thousands of laborers. The goal of any successful business is to keep costs low to maximize profit.
Organizing workers There is power in numbers To present an organized front to employers groups have more power. Organization called: Labor unions often represented by elected officers negotiate with company ownership.
Goals Unions serve to represent the interests of workers. Workers have grievances from time to time. Unions can negotiate labor contracts, working conditions and other benefits. Jimmy Hoffa was a famous labor union leader who “disappeared” in 1975.
Remedies and Strategies Tactics used by unions: Mediation: Employer and workers agree to a third party listening and suggesting a compromise. Arbitration: Employer and workers agree to a third party listening and settling a dispute.
Extreme Tactics When no satisfactory agreement is reached workers may choose to strike. Workers as a united group walk off the job and refuse to work.
Extreme Tactics Owners/employers can choose to lock-out workers. Workers are not allowed to work at their jobs.
Taft-Hartley Act In 1947 the U.S. Congress passed a law sponsored by senators Taft and Hartley. The law prohibited [banned] certain actions by labor unions which protected employers from workers/unions. Unions had to give at least 60 days notice of strikes and could not just walk off the job for no reason.
Sources http://en.wikipedia.org/wiki/Image:Robert_a_taft.jpg