A girl holds a “Union” sign as members of the Writers Guild of America and the Screen Actors Guild walk a picket line outside Paramount Studios in Los Angeles, July 14, 2023.
Chris Delmas | AFP | Getty Images
WASHINGTON — Unions boost pay 10% to fifteen% for members and improve fringe advantages, bolstering the center class and economy, a U.S. Department of the Treasury report released Monday said.
“Union staff make our middle class and our entire economy more strong,” Vice President Kamala Harris said Monday on a call outlining the administration’s efforts to support unions.
“President Biden and I are constructing an economy where one and all, not only the rich, (is) well-connected, has the chance to thrive,” she added.
The report, issued by the Treasury’s Office of Economic Policy, also showed that unionization reduces wage gaps by race and gender and improves advantages and procedures equivalent to retirement plans, grievance policies and regular work schedules.
This 12 months has seen several high-profile labor organizations push for higher pay and dealing conditions as inflation has hammered the center class.
Because the Federal Reserve began mountaineering rates of interest to combat inflation in March 2022, the center class has lost greater than $2 trillion in wealth, in response to Bloomberg, citing data from the University of California, Berkeley.
UPS staff agreed to a landmark collective bargaining deal this month and the Writers Guild of America strike has surpassed 100 days. The United Auto Staff and its nearly 150,000 staff are facing a Sept. 14 deadline for contract negations. A strike from the UAW can be a serious blow to American carmakers.
“During this summer of employee strikes and organizing, we’re seeing unprecedented public support for unions as a critical pathway to grow the center class and supply opportunities for working people to thrive,” Liz Shuler, president of the AFL-CIO, told CNBC.