Union membership works especially well for people of color

AFL-CIO - A new report from the Center for American Progress shows that union membership helps increase wealth and prosperity for families of color.

Here are some of the key findings of the report:

Union members have higher job stability and protections, which lead to longer tenures at a workplace. This can lead to more savings as longer-tenured employees are more likely to be eligible for key benefits that accrue over time.

Nonwhite families with a union member in the household have a median wealth that is 485% as large as the median wealth of nonunion families of color.

Union members' annual earnings are between 20 and 50% higher than those for nonunion members.

Union members also are less likely to experience a negative shock (a large change in income) and more likely to experience a positive shock.