Odd Lots What the Summer of Strikes Means For The Broader Economy
Oct 30, 2023
Omair Sharif, founder of Inflation Insights, brings his expertise to discuss the ripple effects of Hollywood's summer strikes on the broader economy. He explores how labor disputes affect employment and wage disparities, revealing the financial struggles of many actors. The conversation delves into the complexities of inflation metrics and the economic influence of high-profile events, highlighting the intertwined relationship between labor actions and consumer behavior. Sharif offers insights on the future of equitable compensation amid ongoing economic challenges.
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Actor Wages
- Most actors' median wage is between $15-$16 per hour.
- Only the top 10% of actors, likely the top 1%, earn significantly more.
Actors' Multiple Jobs
- Many actors supplement their income with other jobs.
- These additional jobs often pay similar wages to acting roles.
Declining Film and TV Industry
- California film and TV industry has lost about 17,000 jobs since April.
- Industry activity has been declining for the past 18 months.