Many unions in the past year have reached contract agreements with companies that have increased the wages and employee benefits for workers. The widespread union wins have been deemed the “Great Reset” as union activity continues to increase and union contract proposals include significant pay increases that that unions have not experienced before. The “Great Reset” will change wage expectations and the societal standard for wages for the future. This union activity has demonstrated that workers will no longer settle for small annual wage increases that are below the rise of inflation, especially when corporate profits are steadily growing. In the past year, the United States has witnessed over 300 strikes, and this significant increase in strike action has increased the bargaining power of unions and led to bigger wage gains.
See "The rise of worker strike action and significant wage increases in new union contracts deemed the ‘Great Reset’", Steven Greenhouse, The Guardian, October 24, 2023