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Top related persons:
it's - 1 Zachary Parolin - 1 Tom VanHeuvelen - 1 VanHeuvelen - 1
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Search resuls for: "Zachary Parolin"


2 mentions found


☆ Union households tend to have over $100,000 more in wealth than nonunion families, Federal Reserve data shows
  + stars: | 2024-03-21 | by ( Juliana Kaplan | ) www.businessinsider.com   time to read: +3 min
The Center for American Progress, a left-leaning think tank, looked at just how much better union workers are faring. By analyzing the Federal Reserve's Survey of Consumer Finances, CAP found that in 2022, union households held $338,482 in median wealth. Black, nonunion households have a median household wealth of $61,500; meanwhile, Black union households hold around $164,6000 in median household wealth. Union membership rates have declined for decades, reaching a record low of 10% in 2023. The researcher VanHeuvelen previously told BI that the decline in union membership would be like if the wage premium for going to college disappeared.
Persons: it's, Zachary Parolin, Tom VanHeuvelen, VanHeuvelen Organizations: Service, American Progress, Reserve's Survey, Consumer Finances, CAP, Business, Bureau of Labor Statistics, Labor Statistics, of Labor Statistics, Research, Bocconi University, University of Minnesota Twin Cities, Workers, —, United Auto Workers, UPS Teamsters, SAG Locations: United States
☆ Being in a union means you could make $1.3 million more over your lifetime
  + stars: | 2022-10-11 | by ( Juliana Kaplan | Madison Hoff | ) www.businessinsider.com   time to read: +4 min
The authors found that being in a union means a $1.3 million bump to lifetime earnings. "We find that a person who spent the entirety of their career in a labor union were predicted to earn about a million dollars more over the course of their career compared to somebody who was never in a labor union," VanHeuvelen told Insider. The result was the $1.3 million premium for workers who spent their whole careers in unions, even though those workers were more likely to retire earlier. Workers who are never in a union were projected to earn around $2.1 million their whole careers, while those who were in unions for their whole careers were estimated to make $3.4 million. The number of union representation petitions filed in fiscal year 2022 increased by 53%, according to the National Labor Relations Board.
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