A labor union is an organization that represents the collective interests of workers in negotiations with employers.
 | | Term of the Day | Words to Know | | |  | | Labor Union | | A labor union, also called a trade union or worker's union, is an organization that represents the collective interests of employees. Labor unions help workers unite to negotiate with employers over wages, hours, benefits, and other working conditions. They 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. Effective unions tend to help maintain traditional pensions. They are considered an aspect of social justice. | | Read More » | | 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. | | Read More » | | | Organized Labor | | Organized labor is an association that engages in collective bargaining to improve workers' economic status and working conditions. | | Read More » | | | 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. | | Read More » | | | 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. | | Read More » | | | | | | CONNECT WITH INVESTOPEDIA | | | | | | | |
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