Jul 5, 2022 - Economy & Business
Workers everywhere want higher wages
Workers around the world are walking out as they demand higher wages in the face of rising inflation.
Why it matters: Labor tensions are crippling key areas of global supply chains, which will likely put even more pressure on prices everywhere.
State of play: Britain is facing a “summer of discontent” as everyone from railway and postal workers to teachers are striking, the New York Times reports.
- In Germany, some 8,000 dock workers went on strike last week, impacting at least six major ports and causing goods to be stuck.
- In France, striking workers separately threatened to shut down an Exxon refinery and disrupted Paris’ main airports.
- In South Korea, truckers last month went on an eight-day strike, curbing operations across businesses, including ones that make steel and computer chips. Meanwhile, Hyundai’s unionized workers in the country just voted for a possible strike.
What to watch: U.S. workers — out of anger and a sense of urgency — have been organizing in unprecedented ways.