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United Auto Workers union members striking in October 2019. Photo: Bill Pugliano/Getty Images

3.24 million work days were lost to labor strikes and lockouts in 2019, the most since 2004, according to the Bureau of Labor Statistics.

Why it matters: Labor disputes can cost workers and businesses in missed wages, decreased productivity and stunted revenues.

By the numbers: There were 25 labor disputes involving more than 1,000 workers last year, the most since 2001.

  • 425,500 workers joined work stoppages, with 270,000 in the educational services industry alone.

Between the lines: Labor disputes may increase when the job market tightens, giving workers more leverage in negotiations for higher wages or expanded benefits, according to the Wall Street Journal.

  • The unemployment rate fell to a 50-year low in 2019, but wages only increased by 2.9% — the lowest level in a year and a half and well below the 2018 average of 3.3%, Axios' Dion Rabouin reports.
  • United Auto Workers' 40-day General Motors strike was the largest dispute, totaling 1.33 million days of lost labor and involving 46,000 workers.
  • GM reported a profit hit of 8.7% in Q3 of 2019 as a result of the stoppage.

The big picture: Labor union membership fell by 0.2% in 2019, Axios' Orion Rummler reports.

  • Only 10.3% (14.6 million) of wage and salary workers said they were union members, and around half of the members lived in just seven states — California, New York, Illinois, Pennsylvania, New Jersey, Ohio and Washington.

Go deeper: Unions shrink fast in swing states

Go deeper

1 hour ago - World

Netanyahu and Israel reluctantly adjust to a post-Trump Washington

Netanyahu (R) and Biden in 2010. Photo: Avi Ohayon/GPO via Getty

Prime Minister Benjamin Netanyahu and his close aides are very nervous about the transition to a new U.S. administration after a four-year honeymoon with Donald Trump. One Israeli official told me it felt like going through detox.

What he's saying: Netanyahu congratulated Biden minutes after he was sworn in, saying in a statement that he looked forward to working together to "continue expanding peace between Israel and the Arab world and to confront common challenges, chief among them the threat posed by Iran."

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. State of play: New coronavirus cases down, but more bad news ahead.
  2. Politics: Biden set to immediately ramp up federal pandemic response with 10 executive actions — Scoop: Joe Biden's COVID-19 bubble.
  3. World: Biden will order U.S. to rejoin World Health OrganizationBiden to bring U.S. into global COVAX initiative for equitable vaccine access.
  4. Vaccine: Amazon offers to help Biden administration with COVID vaccine efforts.
Dion Rabouin, author of Markets
3 hours ago - Economy & Business

First glimpse of the Biden market

Photo: Jonathan Ernst-Pool/Getty Images

Investors made clear what companies they think will be winners and which will be losers in President Joe Biden's economy on Wednesday, selling out of gun makers, pot purveyors, private prison operators and payday lenders, and buying up gambling, gaming, beer stocks and Big Tech.

What happened: Private prison operator CoreCivic and private prison REIT Geo fell by 7.8% and 4.1%, respectively, while marijuana ETF MJ dropped 2% and payday lenders World Acceptance and EZCorp each fell by more than 1%.