A woman 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 — According to a report released Monday by the U.S. Department of the Treasury, unions play a crucial role in boosting pay and improving fringe benefits for their members, which leads to a stronger middle class and economy. The report, issued by the Treasury’s Office of Economic Policy, also highlights how unionization helps reduce wage gaps by race and gender, and enhances benefits and procedures such as retirement plans, grievance policies, and steady work schedules.
Vice President Kamala Harris emphasized the significance of union workers, stating, “Union workers make our middle class and our entire economy stronger. President Biden and I envision an economy where every person, regardless of wealth, has the opportunity to thrive.”
In recent times, various prominent labor organizations have been advocating for better pay and working conditions, particularly amid the impact of inflation on the middle class. As reported by Bloomberg, the middle class has suffered a wealth loss of over $2 trillion since the Federal Reserve began raising interest rates in March 2022, based on data from the University of California, Berkeley.
Recent developments include the landmark collective bargaining deal reached by UPS workers, ongoing strike by the Writers Guild of America that has exceeded 100 days, and the approaching September 14 deadline for contract negotiations faced by the United Auto Workers and its nearly 150,000 workers. A potential strike by the UAW would have significant implications for American car manufacturers.
Liz Shuler, President of the AFL-CIO, expressed optimism about the current wave of worker strikes and organizing, saying, “During this summer of worker strikes and organizing, we’re witnessing unprecedented public support for unions as a critical pathway to grow the middle class and provide opportunities for working people to thrive.”
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