Labor unions confront financial challenges from "summary" of Labor in the Age of Finance by Sanford M. Jacoby
Labor unions are currently facing significant financial hurdles in the modern economy. These challenges stem from a variety of sources, including reduced membership numbers, declining bargaining power, and increased opposition from employers and policymakers. As a result, labor unions must find new ways to navigate these financial obstacles in order to remain viable and effective in representing workers' interests. One key financial challenge that labor unions face is the decline in membership numbers. In recent years, the percentage of workers belonging to unions has been steadily decreasing, leaving unions with fewer dues-paying members to fund their activities. This reduction in membership not only limits the financial resources available to unions but also weakens their bargaining power in negotiations with employers. As a result, unions must find alternative sources of funding to make up for this loss in revenue. Furthermore, labor unions are also confronting incr...
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