'These findings challenge arguments that unions hold back growth,' Treasury Secretary Janet Yellen said at a news conference with Vice President Kamala Harris.
The decline of U.S. worker power since the 1970s has led to economic inequality and stagnant wages, and supporting labor unions may be key to reversing that trend, the Biden administration said Monday.
“Today’s unions benefit all demographic groups,” Treasury Secretary Janet Yellen said during a call with reporters Monday. “Black men, who have the highest union-membership rates of any demographic groups [13%, vs. 10.1% overall], have also been particularly hit by the trends experienced by the middle class as a whole. They therefore may be particularly poised to benefit from unionization.”
In 18 out of 21 types of occupations, union members’ weekly wages are higher than those of nonunion members, according to Bureau of Labor Statistics data cited in the Treasury report. The exceptions are three types of occupations that are typically nonunion: management; business and financial; and computer and mathematics.
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