Finance & economics | Free exchange

Belligerent unions are a sign of economic health

Strikes are neither a bad omen nor entirely unwelcome

|5 min read

THE DISSONANCE could hardly have been more apparent. America’s most recent employment figures captured a jobs market in fine fettle: firms added 128,000 new workers in October, while unemployment held near historically low levels and wages rose at a respectable clip. The data would probably have looked better, however, had they not been depressed by a costly labour dispute, only recently ended, at General Motors (GM). Workers around America are showing their restlessness; members of the Chicago Teachers’ Union returned to work on November 1st, after striking to demand higher pay and more investment per student. The unrest may seem odd given the robust state of the labour market. In fact it is neither a bad omen nor entirely unwelcome.

This article appeared in the Finance & economics section of the print edition under the headline “When the iron is hot”

“On the edge of a precipice”: Macron's stark warning to Europe

From the November 9th 2019 edition

Discover stories from this section and more in the list of contents

Explore the edition
illustration of a map of Africa with a large pixelated cursor pointing at Zambia, which is highlighted in yellow

Want to be a good explorer? Study economics

The battle to reduce risk has shaped centuries of ventures

Illustration of a hand pushing a jagged black arrow upward against a red background. The Jane Street logo appears to be rolling down the arrow in the opposite direction.

Jane Street is chucked out of India. Other firms should be nervous

Around the world, marketmakers now face extra scrutiny


A man looks at an advertisement for the Nippon Individual Savings Account (NISA) displayed at a branch of Nomura Securities Co., a unit of Nomura Holdings Inc., in the Kichijoji area of Tokyo, Japan.

Japan has been hit by investing fever

Will old folk catch the bug?


Don’t invest through the rearview mirror

Markets are supposed to look forward; plenty of investors look back instead

Trump’s trade deals try a creative way to hobble China

To appease the world’s biggest market, countries must anger the world’s biggest trader

The great dealmaker is conspicuously short of trade deals

Donald Trump issues threats—and grants deadline extensions