Macroeconomic effects of weak labour market power.

This seminar was filmed during the conference "Modern labour markets Trade unions, social dialogue and productivity" 3 June 2025 in Stockholm, Sweden. Wages are not only determined by employee productivity. It is also a matter power and institutions. In the US and many other countries can a weakened labour movement and the deterioration of labour-friendly institutions, explain many of the macroeconomic trends we have seen over the last couple of decades. This relates to the falling wage share of GDP, stock market valuations, the profitability of the business sector and stagnating real wages. To reverse this trend, the labour movement should be strengthened, minimum wages should be increased and competition policy should be sharpened. Panel: Irene Wennemo, Director General, The Swedish National Mediation Office. Fredrik Söderqvist, Economist at the The Swedish Trade Union Confederation (LO). Tobias Brännemo, Chief Economist, Unionen Roger Bjørnstad, Chief Economist at the The Norwegian Trade Union Confederation (LO).