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The dwindling importance of unions

Here’s the stat of the week (from this WSJ article on the auto industry): UAW membership is only 190,000 workers. That’s a typical number of net jobs created for the economy. The chart shows the change since 2003. It’s a dramatic decrease. But the really interesting number is 1979. In 1979 there were 1.5 MILLION UAW members. What an economic transformation, driven by productivity and Japanese competition.