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Former U.S. Labor Dept. Chief Economist Diana Furchtgott-Roth on union protests at Wal-Mart.
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Right here as well my next guest says the unions are trying to pull the wool over Wal-Mart workers eyes Diana first got brought.
Former chief economist for the US Labor Department joins me now -- great to see you as always.
You may alien really interesting point that the people who would benefit from a unionize Wal-Mart.
Are the unions themselves paso.
Well it's -- union bosses because the pension funds -- dramatically underfunded.
-- look at the Tri-State pension with 33000.
What goes that's funded at 55%.
It means they only have 55%.
Of that assets that they need for that current and future retirees.
You look at the northern California joint pension 120000.
Welcomes funded at 65%.
They only have 65%.
Of what they need.
So what they have to do to fix this gigantic pension problem.
-- knew what -- that's why that trying to organize wal lot they want these wall not what has to come in.
Pay contributions to the pension fund and then of course they won't be getting it out for many many years right at which point deeds not by the end of less.
You know this points out what a prize Wal-Mart is right.
-- -- -- there in the country one point three million workers.
And it would be it let's face it what you're talking about is a bailout for the unions -- not concerned about.
Wal-Mart workers here it's -- out there own obligations.
Yes and you don't think that telling these will not what goes that they will if they join the union -- one lot becomes unionized.
Then these what does -- -- -- entities under funded pensions then not telling them that at all -- just saying join us and you'll be better off.
But these what does would be better off with IRAs 401K plans that own pensions which they we'll get back.
Rather than putting money into some failed pension none of your listeners would put money into a pension -- I would with -- 55%.
-- We know is Jeff -- which is pointing out and he was on the ground today really looking at.
Who was out there right -- was doing the protests seeing -- -- -- how long.
Take a look at that -- -- Wal-Mart protests.
Across the US today you know we had the impression that this was going to be coast to coast and it really wasn't at the end of the day there were fewer people protesting.
Most of them seem to be union officials.
Here's what Wal-Mart had to say we estimate that less than fifty associates participated in the protest nationwide.
Roughly the same number of associates.
Miss their scheduling shift as a last year so.
What do you make of this you know the -- what I -- what is the impact they're having flag.
Did it really turn out.
Well people who are along -- really they want these jobs they like the jobs they provide flexible.
Many people want to cut time jobs does it gives them more time for their families.
And if they didn't want these -- -- jobs they would go look for what else well.
And the percent of Americans.
Who had union jobs as flowing steadily.
In January the labor the -- going to announce that the the sense of American workers who belong to unions when -- fallen from 12% to 11%.
The percent to private sector workers will have reached another reckless low.
And it's because people don't want that contributions going to -- pension fund right.
What -- and use you know.
What's -- look like next year because you do you have this long term trend of erosion and in union membership especially in the private sector.
But let's face it.
We've got the union campaigner in chief and the White House.
It seems to me he's doing everything he -- to encourage union membership will we have higher membership rates next year.
Well he's doing everything he can but then with the unions back at union bosses behaving the way they like -- hostess.
I'll -- eighteen and a half thousand -- are gonna lose that jobs because they don't want.
Cakes and bread carried on the same trucks and they don't want those drive -- to be unloading the cakes and the bread.
These union jobs disappearing.
And if you look at Wisconsin well was because -- Nowak has had a choice of belong to the union on not.
That union membership has fallen dramatically in Wisconsin state and local government.
-- -- impact.
Do you think the host a story to me it seems a black guy.
Up for you all kinds of unions you know they're they're variety of flavors and the unions that was the bakers union.
They were the only group who couldn't come to agreement with hostess and at the end of the day the company went out of business because of that -- actually.
Right it's going out of business and if you look at the auto companies that needed bailouts it was the union ones Chrysler and GM.
It wasn't the ones in the south but when non union so the problem is that unions I'm making union bosses.
I'm making these companies noncompetitive.
And it's -- the workers who they purport to represent.
Diana thanks for coming on tonight how to greatly -- -- -- YouTube.
