Black unionization became truly popular in the early 1970s with 14% of union workers being Black at the time. Today, Black unionization rate has been declining despite our close historical ties to this form of organizing. Could it be time for history to repeat itself?
The most well-known benefit is better wages. Workers represented by a labor union generally earn 10.2% higher than nonunion workers. With Black workers suffering from disparities in pay, joining a union may be the way to increase our wages.
Health insurance access is another great benefit of union membership. Unionized workers are 18% more likely to receive employer sponsored health insurance and often employers will pay more per hour worked toward the cost of health insurance for union workers.
Many people in our community are not financially prepared for retirement. A study from the Center For Economic Policy And Research found that over 60% of Black union workers receive an employer sponsored retirement plan.
Union membership can be a great tool in our arsenal for financial liberation. The benefits and security associated with joining a union such as better wages, access to health insurance, and quality retirement plans could help each of us reach our financial goals that would be impossible without these protections.