Union households tend to have over $100,000 more in wealth than nonunion families, Federal Reserve data shows

Thu, 03/21/2024 - 05:58

Union households have a significantly higher median wealth than nonunion families, Fed data showed.
Being in a union also helps to reduce racial and educational wealth gaps.
However, union membership rates have been declining for years and hit a record low in 2023.

It pays to be in a union, according to a new analysis of Americans' household finances.