foxex: What is a 'Labor Union'?

Monday, September 2, 2019

What is a 'Labor Union'?

A labor union, also called a trade union, is an organization that represents the collective interests of workers. The labor union helps workers unite to negotiate with employers over wages, hours, benefits, and other working conditions. Labor unions are often industry-specific and tend to be more common in manufacturing, mining, construction, transportation, and the public sector. However—while beneficial to members—labor union representation in the United States has declined significantly in the private sector over time.

Related to "Labor Union"

The History of Unions in the United States

Although the overall power of labor unions may not be what it once was, they still maintain a great deal of influence in the United States.

Unions: Do They Help or Hurt Workers?

Learn the pros and cons of these organizations and how they fit into today's economy.

The Top 5 Most Unionized Industries

Unions don't have the membership numbers that they once did, but they are still a vital part of many industries. Here are the most unionized industries.

Related Definitions

Collective Bargaining

Collective bargaining is the process of negotiating terms of employment between an employer and a group of workers. Discover more about the process here.

Organized Labor

Organized labor is an association that engages in collective bargaining to improve workers' economic status and working conditions.

Terms of Employment

Terms of employment are the responsibilities and benefits of a job as agreed upon by an employer and employee at the time of hiring.

Taft-Hartley Act

The Taft-Hartley Act is a 1947 federal law that prohibits certain union practices and requires disclosure of certain financial and political activities by unions.