'The evidence presented in Treasury's report challenges the view that worker empowerment holds back economic prosperity,' a department economist wrote.
outlining her department's findings, Treasury Secretary Janet Yellen said that unions are "critically important to workers' well-being."
"Unionization also has spillover effects," Yellen added. "Competition means workers at nonunionized firms may see increased wages too. Heightened workplace safety norms can pull up whole industries. Benefits also spill over to workers' families and communities."A report released Monday by the U.S.
"Unions also improve fringe benefits and workplace procedures such as retirement plans, workplace grievance policies, and predictable scheduling," the report notes. "These workplace improvements contribute substantially to middle-class financial stability and worker well-being. For example, one study has estimated that the average worker values their ability to avoid short-notice schedule changes at up to 20% of their wages.
"All in all, the evidence presented in Treasury's report challenges the view that worker empowerment holds back economic prosperity," wrote Feiveson. "In addition to their effect on the economy through more equality, unions can have a positive effect on productivity through employee engagement and union voice effects, providing a roadmap for the type of union campaigns that could lead to additional growth.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Abolish the Department of Education and take on the teachers’ unions to help students thriveShuttering the DOE and taking on unions – as Christie did as New Jersey’s governor – should be a big part of the national discussion.
Read more »
Unions are key to reversing stagnant wages and economic inequality, Treasury Department says in first-of-its-kind report'These findings challenge arguments that unions hold back growth,' Treasury Secretary Janet Yellen said at a news conference with Vice President Kamala Harris.
Read more »
Treasury yields lower after Powell says Fed is prepared to raise ratesU.S. Treasury yields fell as investors remained focused on remarks from Jerome Powell that signaled the possibility of more rate hikes to tackle inflation.
Read more »
State Department of Health urges blood donations to avoid summer shortageDepartment of Health says it's time to donate blood!
Read more »
California unions make major push with strikes and legislative actionCalifornia workers have gone on strike to seek better wages and working conditions. Unions are also mounting a major push in the Legislature.
Read more »
From Quashing Teachers Unions to Pardoning Trump, Voters Reject GOP Positions: Poll'The first Republican debate was nothing but a race to the bottom,' said the head of Data for Progress. 'Major candidates succeeded in turning off Independent voters and failed to offer voters a positive vision.'
Read more »