Those wage increases make an enormous difference in the lives of working people—helping people buy homes, save for retirement and build a future for our families. In newly released data from the Federal Reserve’s Survey of Consumer Finances, union households have 1.7 times the median wealth of nonunion households.
Not only that, but union membership helps narrow the racial wealth gap by ensuring that workers of color get the same fair deal that everyone else gets. While union membership increases median wealth for white households by 37%, it increases median wealth for households of color by 167%–228%. And whether you went to college or entered an apprenticeship program, the median wealth of union households is greater than that of nonunion households across every education level.
We’ve said it before and we’ll say it again: #ItsBetterInAUnion.