US union membership is at its lowest level since the Great Depression
When it comes to their employees, employers are getting more for less these days. US wages have stagnated in recent years, and salary increases have not caught up with inflation. Meanwhile, US productivity grew 3.7 times as fast as pay—64.6% compared to 17.3%—between 1979 and 2021.Read more……
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As union membership falls, the richest Americans get wealthier
Meanwhile, the share of US income going to the top 10% has increased steadily since the 1980s. In 2021, 45.6% of US income went to the top 10% of Americans, according to the World Inequality Database. The proportion of wealth going to the top 10% of Americans is approaching 1930s levels, when the top 10% held nearly 50% of US income.
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According to the independent nonpartisan policy institute Center for American Progress, unions help increase wealth for all and close racial wealth gaps. The median union household has more than twice the wealth of a median nonunion household, according to analysis by the group based on data from the Survey of Consumer Finances.