What is meant by the term 'economic strike'?

The term 'economic strike' refers to a work stoppage initiated by employees primarily due to disputes over wages, benefits, or overall economic conditions related to their employment. This type of strike typically arises when labor unions and employers cannot agree on compensation structures that the employees find acceptable, prompting workers to withhold their labor in an attempt to force negotiations that could lead to better economic terms.

In the context of labor relations, economic strikes are significant as they reflect the underlying tensions between workers' demands for fair compensation and employers' cost structures. This differs significantly from other forms of strikes, such as those related to unsafe working conditions or initiated by employers, which focus on different underlying issues. Understanding the nuances of this term helps clarify the motivations and rights of workers in the context of collective bargaining and labor disputes.