20:44:48 EDT Sat 11 May 2024
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Metro Inc
Symbol MRU
Shares Issued 230,021,730
Close 2023-08-09 C$ 70.56
Market Cap C$ 16,230,333,269
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NP says striking Metro workers keeping groceries pricey

2023-08-09 08:04 ET - In the News

The National Post reports in its Wednesday edition that Unifor's 3,700 workers have shut down operations at 27 Metro grocery stores in the Greater Toronto Area. The Post's Matthew Lau writes that the strike is supported by NDP Leader Jagmeet Singh, who in the same breath rails against high grocery prices and demands grocery stores pay significantly more for the labour that allows them to operate. Echoing the NDP, Unifor has also lamented high grocery prices, to which unionization and strikes undoubtedly contribute by inflating costs and reducing supply. Unifor and NDP statements in favour of striking workers are notable for the absence of sound economic reasoning. Since wages should match workers' productive output, higher productivity would be a good justification for raising wages, but no one has shown that Metro workers are more productive than they were previously. Nor has the union shown that they are paid less than they are worth by offering evidence of workers being paid more by other companies to do the same work. It is not a political position calculated to demonstrate financial literacy, and is clear evidence the NDP cares nothing about actual food affordability: they just hate businesses earning profits.

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