Official Strike

Filed Under » ,
Dictionary Says

Definition of 'Official Strike'

A work stoppage by union members that is endorsed by the union and that follows the legal requirements for striking, such as being voted on by a majority of union members. Workers engaging in official strikes have better protections against being fired.

Also called "official industrial action."

Investopedia Says

Investopedia explains 'Official Strike'

A famous official strike in the United States was the 1994 Major League Baseball strike, which canceled the end of the regular season and the entire postseason. Some of the replacement players who played during 1995 spring training, when the strike had not yet ended, remained in the major leagues, but are not allowed union membership to this day. One reason why this is important is because union players receive a certain percentage of Major League Baseball revenues, because MLB licenses players' names and images for items like jerseys and baseball cards. Non-union members do not receive this benefit.

Articles Of Interest

  1. The Unemployment Rate: Get Real

    Depending on how it's measured, the unemployment rate is open to interpretation. Learn how to find the real rate.
  2. Unions: Do They Help Or Hurt Workers?

    Learn the pros and cons of these organizations and how they fit into today's economy.
  3. The Economics Of Labor Mobility

    Loosening labor restrictions has both good and bad effects for a country and its workers.
  4. Playoff Perks For Pro Athletes

    If personal pride, a stellar resume and increased job security aren't enough incentive for some pro athletes, each league has reserved a bit of lunch money to up the ante and help tide athletes ...
  5. Most Successful Unions

    Labor unions have existed in the U.S. for quite some time, but not all have been as successful as these three.
  6. The History Of Unions In The United States

    Although the overall power of labor unions may not be what it once was, they still maintain a great deal of influence in the United States.
  7. Are Labor Unions Effective?

    This article examines some of the pros and cons associated with organized labor.
  8. Is Striking The Best Option?

    Sometimes striking can do more harm than good. Here are a few examples where things have gone from bad to worse.
  9. Know Your Rights At Work

    David Siegel of Westgate Resorts says he'd fire his employees if Obama wins. Can labor laws protect employees from this?
  10. Why The Prices Of Sports Tickets Vary So Much

    Prices of NBA, NHL, MLB and NFL tickets may vary for a number of reasons.
comments powered by Disqus
Marketplace
Hot Definitions
  1. Network Effect

    A phenomenon whereby a good or service becomes more valuable when more people use it. The internet is a good example...
  2. Racketeering

    Racketeering refers to criminal activity that is performed to benefit an organization such as a crime syndicate. Examples of racketeering activity include...
  3. Lawful Money

    Any form of currency issued by the United States Treasury and not the Federal Reserve System, including gold and silver coins, Treasury notes, and Treasury bonds. Lawful money stands in contrast to fiat money, to which the government assigns value although it has no intrinsic value of its own and is not backed by reserves.
  4. Fast Market Rule

    A rule in the United Kingdom that permits market makers to trade outside quoted ranges, when an exchange determines that market movements are so sharp that quotes cannot be kept current.
  5. Absorption Rate

    The rate at which available homes are sold in a specific real estate market during a given time period.
  6. Yellow Sheets

    A United States bulletin that provides updated bid and ask prices as well as other information on over-the-counter (OTC) corporate bonds...
Trading Center