Economy

UAW OKs Interim Deal at Ohio Battery Plant
Written by Ethan Bernard
August 28, 2023
United Auto Workers (UAW) union represented employees at battery cell maker Ultium Cells in Lordstown, Ohio, ratified an interim labor agreement over the weekend.
The UAW said the workers voted 895 to 22 to approve the agreement that will see their wages raised $3 to $4 an hour, “and provides thousands of dollars in back pay for hundreds of workers.”
The deal, announced on Aug. 24, comes after months of negotiations. The UAW said talks will continue for a complete first contract between its bargaining committee and Ultium, a joint venture between General Motors and LG Energy Solution.
“This agreement is an important step forward, but it’s only the first step,” Shawn Fain, UAW president, said in a statement on Sunday. “We will keep fighting at Ultium and all EV plants to win the same strong pay and safety standards that generations of autoworkers have won at GM, Ford, and Stellantis.”
The union said Ultium Cells produces battery cells for GM’s growing electric vehicle fleet and is expected to qualify for more than $1 billion a year in federal tax credits when operating at full capacity.
Negotiations remain ongoing between the UAW and the Detroit 3 automakers. The current labor contract expires on Sept. 14 at 11:59 p.m.

Ethan Bernard
Read more from Ethan BernardLatest in Economy

ISM September survey captures deepening manufacturing gloom
The Institute for Supply Management’s (ISM) latest monthly report on manufacturing reflects a bleak view of American industry in September.

Key industries concerned over government shutdown’s impact on steel, manufacturing
Trade groups cautioned that a prolonged shutdown could strain US industry.

Chicago Business Barometer catches cold winds of contraction in September
The Chicago Business Barometer's September reading indicates a softening in overall business activity in the Midwest for the third consecutive month, with new orders and backlogs retreating further.

Metalforming market sentiment takes a dive in September: PMA
Metalforming manufacturers anticipate a decrease in near-term conditions, according to the Precision Metalforming Association's (PMA) Business Conditions Report for September.

AIA: Architecture firms still under pressure
Architecture firms reported a modest improvement in billings through August, yet business conditions remained soft, according to the latest Architecture Billings Index (ABI) release from the American Institute of Architects (AIA) and Deltek.