Official Strike

AAA

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 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.

RELATED TERMS
  1. Unofficial Strike

    A work stoppage by union members that is not endorsed by the ...
  2. Civilian Labor Force

    A term used by the U.S. Bureau of Labor Statistics (BLS) to describe ...
  3. Collective Bargaining

    The process of negotiating the terms of employment between an ...
  4. Labor Productivity

    A measurement of economic growth of a country. Labor productivity ...
  5. Occupational Labor Mobility

    Refers to the ease with which workers can switch career fields ...
  6. Organized Labor

    An association of workers united as a single, representative ...
Related Articles
  1. No results found.
comments powered by Disqus
Hot Definitions
  1. Due Diligence - DD

    1. An investigation or audit of a potential investment. Due diligence serves to confirm all material facts in regards to ...
  2. Certificate Of Deposit - CD

    A savings certificate entitling the bearer to receive interest. A CD bears a maturity date, a specified fixed interest rate ...
  3. Days Sales Of Inventory - DSI

    A financial measure of a company's performance that gives investors an idea of how long it takes a company to turn its inventory ...
  4. Accounts Payable - AP

    An accounting entry that represents an entity's obligation to pay off a short-term debt to its creditors. The accounts payable ...
  5. Ratio Analysis

    Quantitative analysis of information contained in a company’s financial statements. Ratio analysis is based on line items ...
  6. Days Payable Outstanding - DPO

    A company's average payable period. Calculated as: ending accounts payable / (cost of sales/number of days).
Trading Center