Labor union trends play in important role in the development of the global economy. The trends in the global union climate provide data that can be used to compare and contrast the state of the labor market and economic stimulus between different countries. The World Bank Study follows these trends and publishes reports, white papers, and statistics that are used to evaluate the state of the global union trends and finances. The impact of the labor issues is in many ways directly related the economic state of a country or the global economy.
Coordinated Labor Markets
In one of the latest studies published by the World Back Study, in February of 2003, draws a correlation between labor issues, unionization, and economy performance. The trend follows the consistent growth of the unionized labor market. Based on this study, workers who belong to trade unions earn higher wages, work fewer hours, receive more training, have longer job tenure, than non-unionized workers.
(Hay, 2003) There are also distinct advantages that promote collective bargaining. Collective bargaining on a global scale allows unions to have a reach that is unprecedented. Locally in the Detroit area it is evident in the auto industry and the collective bargaining power of the UAW and CAW. In the last several years they have been using each other as tools for the contract bargaining table. The report, which reviewed more than a thousand studies on the effects of unions and collective bargaining, finds that bargaining coordination between workers' and employers' organizations in wages and other aspects of employment, for example working conditions, has a global effect on the economy. The continuation of these efforts to create a global union will help companies come into line with regulations and initiatives such as affirmative action and equal pay for equal work.