The United Auto Workers strike is taking a significant toll on the U.S. economy as it enters its fourth week.
Consulting firm Anderson Economic Group estimates the walkout has cost $5.5 billion so far, $1 billion more than the General Motors strike in 2019. The latest total includes a $2.6 billion hit to Detroit’s Big Three automakers (Ford, GM, and Stellantis), more than $1.2 billion in losses for dealers and customers, a $1.6 billion hit to suppliers, and nearly $580 million in lost wages.
The report also shows about 30% of auto suppliers have laid off employees because the strike has made it difficult for facilities to obtain car parts.
Most recently, Ford and GM announced last week they are indefinitely furloughing an additional 500 workers at four Midwestern plants. The move comes after Stellantis temporarily laid off 68 workers at a plant in Ohio last month and announced…
