At the start of this year, there was a lot of talk about the renewed power of ordinary workers. Post-pandemic labour shortages had left employers struggling to recruit for all kinds of roles, especially in hotels, fast food restaurants, warehouses and other jobs where pay and conditions can be poor. Job vacancy rates had increased in Australia, Canada, Germany, the UK, the US and France among many others.
Unions, meanwhile, were depleted in terms of members but seemed to fizz with fresh energy. In the US, that mood was bolstered by the election of Joe Biden who promised to be “the most pro-union president you’ve ever seen”. After four decades in which capital had dominated labour, was the pendulum beginning to swing the other way?
As we reach the end of the year, it’s hard to argue 2022 has been a good one for workers. Labour shortages have persisted and wage growth has picked up quite strongly in some countries like the US and the UK. But pay hasn’t kept up with surging prices. As a result, global wages fell in real terms this year for the first time since…
