Economic losses top $3 billion in first 2 weeks of UAW strike

UAW striking workers
Photo credit © Ryan Garza / USA TODAY NETWORK

DETROIT (WWJ) -- New figures are out Monday showing just how much money the UAW strike has cost so far, and it's in the billions.

The consulting firm Anderson Economic Group estimates over $3 billion in economic losses in the first two weeks of the strike.

Industry analysts with the group say manufactures and suppliers lost over $1 billion each, and that dealer and customer losses are also over $1 billion.

The second week was more costly than the first.

“Suppliers were particularly hard-hit by the UAW’s strategy of announcing specific plants to be struck just hours before they were shut down,” said Patrick Anderson, AEG’s principal and CEO.

“The shutdown of 38 parts distribution centers also crimped dealership service operations and, of course, caused more UAW workers to
lose wages.”

The economic group said these figures do not include the plant closures, additional strike targets, or layoffs that started last Friday.

This comes as more than 25,000 striking UAW workers are marking 18 days of picketing against the Detroit Three automakers, over issues including pay, pensions and cost of living adjustments.

Workers at 41 General Motors, Stellantis and Ford 41 plants and parts distribution centers, including 15 in Michigan, are on the picket lines with negotiations ongoing.

Picketing workers speaking to WWJ Newsradio 950's Ryan Marshall at the Mopar Parts Distribution Center in Center Line early Monday said they will be out there for as long as it takes for them to get their fair share of profits from Stellantis.

Barbara, who's worked at the facility for more than 12 years, said she and her colleagues are just fighting for what they deserve.

"We gotta stand strong; we gotta do the long run," she told Marshall. "We gotta do it, because if not they're gonna walk over us and treat us just like we don't matter. And we do matter. We're the reason why they're making the month that they're making."

UAW member Richard Porter added, "I mean, a lot of people, they're scared. But we gotta do what we gotta do, because if you don't stand up, you're gonna get ran right over."

Asked about progress over the weekend, a media contact for Stellantis said she had "nothing new to report," while Ford spokesperson said simply that "negotiations continue."

GM did not immediately respond to a call from WWJ seeking an update.

MORE: As UAW strike drags on, expert says prolonged stoppage is 'gonna drive car prices back up'

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Featured Image Photo Credit: © Ryan Garza / USA TODAY NETWORK