The effect of labor union of US is to identify the expertise level of the human resources department of the organizations. In the words of Becker, Jorg (25), it can be stated that the small businesses of the country would be benefitted with the functioning of the labor union, in order to mitigate the problems of the organizational staffs by step by step approach. As a result, the labor union would be able to address their problems and would be able to mitigate these. Hence, in this connection, the labor union of the organizations requires to prepare a contract negotiation, which involves the labor management and the agreed concessions. On the other hand, the lab our union develops the complex contracts in order to evaluate the wage rate along with the benefitted scenarios for the collective bargaining sessions.
As opined by Ohler, Adrienne, and Ian Fetters (127), the staffs of the organizations used to communicate with the organizational authority through the leader of the labor union. In this connection, the management rights clause of the US organizations would highlight the organizational management in order to operate the business and also for making the best decision for the organizations. The labor union environment of US also takes away the collective bargaining agreement to the management discretion for the purpose of decisions concerning performance and also for rewarding the union employees. On the contrary, Rahma, Elsiddig, Noel Perera, and Kian Tan (210) argued that labor union makes the distinction among the internal staffs of the organizations, and also lead to differentiate the wage rate of the employees. It is known that higher wage rate reflects the lower rate of investment. As a result, it can be inferred that this decimation would create an adverse impact among the employees and the lower paid labors would not like to work. In addition, it can be mentioned that this unequal biasness also affects the organizational economy of the country.
Wage rate distinction would lead to the voluntary unemployment. According to Oishi, Shigehiro, and SelinKesebir (1632), it can be mentioned that the lower wages paid employees are unwilling to work. More specifically, it can be stated that the jobs are available for them, but they are not willing to work. Therefore, it can be inferred that voluntary unemployment would negatively affect the country’s economy.
From the above figure, it can be observed that the unemployment rate of US has been decreasing with the passage of time. In this connection, it can be mentioned that lower unemployment rate would influence the higher GDP rate of the economy. Nevertheless, Wang, Chia-Nan, and Van-ThanhPhan (254) questioned that very lower rate of unemployment would lead to the hyperinflation. The country will suffer from the problem of reallocation of wealth. As a consequence, it can be interpreted that this would convert the wealth from the residents to the account of the government. In addition, hyperinflation would reduce the purchasing power of the private and the public savings. More specifically, the economy would suffer from the economic instability condition. Hence, it can be mentioned that though the biasness of labor union would lead voluntary unemployment, however, the trend of the unemployment rate of the country would lead to the economy US to suffer from the situation of hyperinflation.
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