| Union Membership, Coverage, Density, and Employment: | |||||||
| Finance, Insurance, and Real Estate Workers | |||||||
| Year | Sample Size | Wage | At Cap | Union Wage | Nonunion Wage | Unadjusted Union Wage Prem. | Adjusted Union Wage Prem. |
| 1973 | 2,004 | $4.28 | 0.5% | $4.79 | $4.26 | 12.5% | 8.4% |
| 1974 | 1,937 | $4.62 | 0.6% | $4.78 | $4.61 | 3.8% | 10.2% |
| 1975 | 2,010 | $4.99 | 0.6% | $5.01 | $4.99 | 0.3% | 0.1% |
| 1976 | 2,002 | $5.18 | 0.7% | $4.86 | $5.19 | -6.4% | -0.3% |
| 1977 | 2,358 | $5.61 | 1.0% | $5.71 | $5.61 | 1.8% | 3.2% |
| 1978 | 2,287 | $5.92 | 1.0% | $6.01 | $5.92 | 1.5% | 3.9% |
| 1979 | 2,524 | $6.67 | 1.7% | $5.85 | $6.72 | -12.9% | -5.4% |
| 1980 | 3,262 | $7.06 | 1.6% | $6.73 | $7.08 | -4.9% | -2.5% |
| 1981 | 732 | $7.43 | 2.0% | $6.99 | $7.66 | -8.7% | 4.5% |
| 1983 | 8,936 | $8.76 | 3.9% | $8.37 | $8.90 | -5.9% | -0.3% |
| 1984 | 8,960 | $9.49 | 5.3% | $8.63 | $9.65 | -10.6% | 7.2% |
| 1985 | 9,571 | $9.83 | 5.4% | $9.30 | $9.99 | -6.8% | 4.2% |
| 1986 | 10,405 | $10.43 | 6.4% | $10.25 | $10.55 | -2.8% | 4.2% |
| 1987 | 10,342 | $10.93 | 7.3% | $10.85 | $11.09 | -2.2% | 3.2% |
| 1988 | 9,555 | $11.59 | 8.5% | $11.73 | $11.67 | 0.5% | 8.5% |
| 1989 | 9,654 | $12.11 | 1.9% | $11.26 | $11.95 | -5.8% | 1.9% |
| 1990 | 10,000 | $12.83 | 2.2% | $11.99 | $12.73 | -5.8% | 2.4% |
| 1991 | 9,706 | $13.23 | 2.1% | $12.60 | $13.08 | -3.7% | -1.0% |
| 1992 | 9,504 | $13.65 | 2.5% | $12.78 | $13.49 | -5.3% | 6.0% |
| 1993 | 9,069 | $14.28 | 3.0% | $13.26 | $14.08 | -5.8% | 4.5% |
| 1994 | 11,034 | $14.48 | 2.9% | $13.43 | $14.51 | -7.5% | -1.0% |
| 1995 | 10,787 | $14.92 | 3.3% | $13.90 | $14.95 | -7.0% | 1.7% |
| 1996 | 7,054 | $15.79 | 3.9% | $15.36 | $15.44 | -0.5% | 5.0% |
| 1997 | 7,242 | $16.35 | 4.5% | $14.72 | $16.14 | -8.8% | 2.5% |
| 1998 | 7,434 | $17.44 | 2.2% | $16.20 | $17.28 | -6.2% | 1.6% |
| 1999 | 7,211 | $18.07 | 2.3% | $17.14 | $17.75 | -3.4% | 11.6% |
| 2000 | 6,904 | $19.27 | 2.4% | $16.97 | $18.82 | -9.9% | 6.6% |
| 2001 | 7,378 | $20.67 | 3.1% | $17.51 | $20.10 | -12.9% | 6.8% |
| 2002 | 8,222 | $21.82 | 3.8% | $19.23 | $21.28 | -9.7% | -1.2% |
| 2003 | 8,178 | $22.06 | 3.8% | $18.95 | $21.31 | -11.1% | 6.8% |
| 2004 | 8,118 | $22.65 | 4.0% | $19.98 | $21.79 | -8.3% | -0.9% |
| 2005 | 8,293 | $23.59 | 4.0% | $20.52 | $22.92 | -10.5% | 0.8% |
| 2006 | 8,376 | $24.41 | 4.4% | $22.53 | $23.50 | -4.1% | 0.8% |
| 2007 | 8,269 | $25.40 | 5.0% | $20.63 | $24.67 | -16.4% | -1.6% |
| 2008 | 7,989 | $26.10 | 5.3% | $23.49 | $25.37 | -7.4% | -1.6% |
| 2009 | 7,767 | $26.69 | 5.6% | $26.36 | $26.12 | 0.9% | 4.4% |
| 2010 | 7,174 | $27.66 | 6.8% | $24.49 | $26.93 | -9.0% | 5.5% |
| 2011 | 6,933 | $27.45 | 6.0% | $25.23 | $26.71 | -5.5% | -0.2% |
| 2012 | 6,949 | $28.19 | 6.2% | $25.80 | $27.55 | -6.4% | -1.0% |
| 2013 | 6,901 | $30.08 | 7.4% | $25.98 | $28.97 | -10.3% | 0.8% |
| 2014 | 6,752 | $30.45 | 7.5% | $26.90 | $29.68 | -9.3% | -0.9% |
| 2015 | 6,362 | $32.01 | 8.2% | $28.18 | $30.51 | -7.6% | 3.0% |
| 2016 | 6,675 | $33.38 | 8.7% | $26.39 | $32.03 | -17.6% | -1.7% |
| 2017 | 6,412 | $33.77 | 9.0% | $28.75 | $32.34 | -11.1% | -1.6% |
| 2018 | 6,144 | $35.99 | 10.5% | $28.03 | $34.44 | -18.6% | -12.4% |
| 2019 | 6,000 | $36.92 | 10.7% | $31.26 | $35.63 | -12.3% | -6.9% |
| 2020 | 5,581 | $40.54 | 12.8% | $30.61 | $39.00 | -21.5% | -8.4% |
| 2021 | 5,405 | $43.10 | 14.0% | $33.83 | $41.00 | -17.5% | -4.8% |
| 2022 | 5,413 | $45.34 | 15.0% | $40.95 | $43.28 | -5.4% | -1.7% |
| 2023 | 5,138 | $48.74 | 10.2% | $42.02 | $46.76 | -10.1% | 3.0% |
| 2024 | 5,287 | $52.83 | 2.4% | $40.29 | $50.43 | -20.1% | -7.7% |
| Beginning in April 2023, the CPS gradually phased in dynamic topcoding that assigned anyone | |||||||
| in the top 3% of the weekly earnings distribution a value that matches the average within the | |||||||
| top 3 percent. The estimate of the percent at the cap excludes those who are assigned a | |||||||
| dynamic top code. By the end of 2024, no earnings are capped at $2885. | |||||||
| Copyright 2025 by Barry T. Hirsch, David A. Macpherson, and William E. Even. | |||||||