"Treasury Department Report Highlights Economic Benefits of Unions in the U.S."

The Treasury Department has released a comprehensive report on the benefits of labor unions to the U.S. economy. The report highlights that unions play a crucial role in addressing challenges faced by the middle class, such as stagnant wages and high housing costs. It finds that unions raise wages by 10 to 15 percent, improve fringe benefits and workplace procedures, and contribute to financial stability and worker well-being. Unionization also has spillover effects, benefiting nonunionized workers and reducing race and gender wage gaps. Additionally, unions contribute to economic growth and resilience by reducing overall inequality and improving working environments. The Biden-Harris Administration is taking steps to strengthen unions, including prioritizing the passage of pro-union legislation and appointing officials committed to protecting workers' rights.