Bloomberg Intelligence cover image

Bloomberg Intelligence

Holiday Consumer Spending, Update on Starbucks Worker Strike

Dec 26, 2024
Lauren Saidel-Baker, an economist at ITR Economics, dives into consumer spending trends this holiday season, examining the impact of tax changes and Federal Reserve policies. Russel William Galbut, managing principal at Crescent Heights, shares insights on the South Florida real estate market, highlighting demographic shifts and infrastructure investments. The podcast also sheds light on the recent Starbucks worker strike, discussing its implications for labor rights and consumer dynamics, making for an engaging look at current economic challenges.
33:03

Podcast summary created with Snipd AI

Quick takeaways

  • Starbucks workers recently initiated a five-day strike amid ongoing contract negotiations, highlighting significant labor tensions and public scrutiny during the holiday season.
  • Current consumer spending trends reveal a stark divide between affluent households spending freely while lower-income consumers face inflation-related cutbacks.

Deep dives

Starbucks Workers Strike and Union Negotiations

Starbucks employees recently engaged in a five-day strike as they negotiate their union contract, with around 5% of stores currently unionized. The dispute arose from allegations that Starbucks did not present any wage improvements during contract discussions, leading the union to leave the negotiating table. The strike coincided with a busy holiday season, specifically on Christmas Eve, but only a small percentage of stores actually closed. The incident highlights the ongoing tensions within the workforce and the significant public attention it garnered, albeit with a limited impact on the company’s overall operations.

Get the Snipd
podcast app

Unlock the knowledge in podcasts with the podcast player of the future.
App store bannerPlay store banner

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode

Save any
moment

Hear something you like? Tap your headphones to save it with AI-generated key takeaways

Share
& Export

Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode