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2023 UAW Contract Negotiations with Ford, GM, and Stellantis
Abstract: The U.S. automotive industry is a large and critical part of the U.S. economy, and nowhere is that more apparent than in the Federal Reserve’s Seventh District, home of the Federal Reserve Bank of Chicago.1 About 60% of the UAW members impacted by this year’s high-profile UAW labor negotiations with Ford, General Motors (GM), and Stellantis work in the Chicago Fed’s District.2 These three companies produce just over half of all their U.S. vehicle output, 40% of all U.S. engine plant output, and 75% of all U.S. transmission plant output in Illinois, Indiana, and Michigan—three of the five states in the Seventh District.3 Due to the substantial role of the unionized auto sector in the District economy, the Chicago Fed is closely monitoring the developments in automotive labor negotiations, and I provide background on the history and process of UAW talks with these three companies in a series of three blog posts.
Keywords: Automotive; Automobile industry and trade - Michigan - Detroit;
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Provider: Federal Reserve Bank of Chicago
Publication Date: 2023-08-16