Some not so good news on labor/inflation: SAG-AFTRA go on strike

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Some not so good news on labor/inflation: SAG-AFTRA go on strike

Approximately 160,000 television and movie actors, members of the SAG-AFTRA union, are set to strike, joining screenwriters who started their strike in May. This results in the first industrywide shutdown in Hollywood in 63 years.

Actors' demands echo those of the writers, and their joint strike will potentially halt the entertainment business, impacting both traditional studios and newer streaming services like Netflix, Amazon, and Apple. The labor dispute primarily involves

• wages,
• residuals, and
• artificial intelligence

A large majority of union members endorsing the strike.

The actors' walkout will also bolster the striking writers, who have been on strike for over 70 days.

The last major actor walkout was in 1980 over the economics of home video rental and sales.

Strikes for higher wages - if becomes the norm - is not all that great for inflation, especially in a tight labor market.

It's not impacting stocks as the S&P and Nasdaq are both trading to new highs on the day. 

                This article was written by Greg Michalowski at www.forexlive.com.

Source: Some not so good news on labor/inflation: SAG-AFTRA go on strike

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