South African Labour Federations Unite for Justice, Economic Reform at L20 Summit

Economic inequality in the U.S. is widening, with the wealthiest 1% holding over five times the wealth of the bottom 50%, and the richest 19 families gaining $1 trillion in 2024 alone, while 59% of Americans lack savings for unexpected expenses. Research indicates that strengthening collective labor rights, such as union membership and collective bargaining, can help reduce this inequality by securing better wages and working conditions, though union participation remains below 10% in the U.S. Meanwhile, significant labor law reforms are underway in the U.K. through the Employment Rights Bill, which includes government-backed provisions prohibiting confidentiality agreements that silence workers on harassment or discrimination claims. Globally, labor movements like South Africa's major federations are advocating for decent work, formalization of informal jobs, and a new social contract to address rising inequality, unemployment, and workers' rights amid global crises. Additionally, international efforts, such as conferences in Cyprus, emphasize gender equality, pay equity, and sustainable labor practices as essential for economic resilience and social progress. These diverse initiatives reflect a broad push towards reinforcing labor rights and addressing systemic inequalities within workplaces worldwide.