Macroeconomics: Why Do Unions Can Unions Matter?

With all of the changes that have been made over the years to the labor industry and employment laws it is a fair question to ask whether unions do matter or whether the purpose of unions has passed in the United States. While there are still a union presence are they still a dominant force in the labor industry now that Human Resource Management has developed over the years? There are various opinions on why Unions matter and just as many that state they are becoming extinct.
Macroeconomic impact of unions An important factor to consider when forming an opinion on if unions still matter is economics, macroeconomics to be specific. One major point on how unions may impact macroeconomics is lowering the number of unemployment. When a worker is in a union the tenor is higher which means the turnover rate is low. The reason for this low turnover is unions are big on seniority. The unionized worker wants to build their seniority to get the perks that come along with being a seasoned employee. This attracts workers to join
This is a strategy that is believed to give an employee a voice, to participate in the business and the mechanics that make it run. Employees believing there is equality and their voice is being heard, employers are hopeful that there is loyalty and efficiency in their employees productivity because these very employees are now satisfied with their jobs and the company. (Budd, 2017) Why is this important to the importance of a Union? If Unions were no longer in existence, employers would not strategize so diligently to keep their employees satisfied. Employers would not make sure that a Union is not an option their labor force would consider because that threat would no longer be a thought. The Labor Relations goals are a final example of why Unions do matter to this