Low Unemployment Fuels Bigger Paychecks for Workers in Historic 2023
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Workers scored big wins in 2023 with higher wages and benefits after strikes and tight labor market forced employers to raise compensation.
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Unemployment stayed under 4% all year as strong consumer spending pushed employers to keep hiring despite recession fears.
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Bottom 25% of earners saw biggest wage gains as low unemployment boosted bargaining power of lower-paid workers.
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Historic strikes across industries like autos, healthcare, and Hollywood secured strongest union contracts in decades with over 20% raises.
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Support for unions has soared with 67% of Americans now backing them, but overall union membership still declined and remains low historically.