Maybe Could Be Retirement Already

One of the biggest threats to comfortable retirement is INFLATION. It ruthlessly cuts away at your purchasing power and forces you to make tougher choices than anticipated.

If you’ve planned a budget it’s not complete unless you’re increasing expenses by at least 2% per year. Even that’s not entirely safe when considering the last two years saw an average increase of 17%! And there’s little chance prices will go down.

So plan ahead and mind the gap between how much is coming in and how much is going out.

The US Economy: A Temperature Check — Chartr: Data Storytelling Happy Sunday! Having tackled Taylor Swift and Streamonomics in our last 2 Sunday Deep Dives, today we’re giving you all the data and ammunition you need to confidently wade into a debate that’s currently raging in America — how is the US economy doing?

Labor unions are flawed, subject to ego, greed, and corruption. Yet they remain the only tool workers - at all economic levels - have to combat these same flaws found in employers.

This week, Microsoft recognized the company’s first ever labor union, formed of 300 employees in their videogame unit, ZeniMax. The tech giant now joins the list of other major organizations, such as Apple, Starbucks, Amazon and Alphabet, that have seen unionization attempts, some of which went better than others.

State of the union(s)

Although labor movements at high-profile companies now routinely grab headlines, they remain unrepresentative of the bigger picture in America. In the last 50 years, private sector union membership has declined dramatically — in the 1970s nearly 25% of private sector workers were trade unionists, today that figure is closer to 6%. The public sector, however, is a different story, with union membership holding steady.

Why such disparity has emerged between private and public is a topic for an economics PhD. Some have argued that organizing efforts are just more difficult in the private sector, where bankruptcies and corporate restructuring are common. Others argue that legislative changes have made organizing difficult, and there is also evidence that unions are simply more effective when bargaining for better wages in the public sector — making them more likely to persist.

Don’t call it a comeback?

Whether the current momentum translates into a meaningful unionization trend remains to be seen, but public perception suggests it might be more than a few isolated cases. A recent Gallup survey showed that 71% of Americans approve of unions, the highest number since 1965, and other studies suggest Gen-Z is more pro-union than any other generation.