In terms of its effect on our most significant trading partner, Canada, the flap over Buy American restrictions is a tempest in a teapot. READ MORE
Ron Bloom, who will join the Obama Administration’s auto industry task force, is a former Wall Street investment banker who later helped the U.S. steel industry survive its last major financial crisis in 2001. He helped revive dozens of bankrupt steel and tire companies, saving thousands of jobs in the process. READ MORE
Read EPI's statement on the upcoming economic recovery package. READ MORE
An analysis of the labor force participation rate shows that there should be an additional four million workers in the labor force. If those missing workers were counted, the unemployment rate today would be 9.9%. READ MORE
An EPI analysis of two economic stimulus proposals being weighed by Congress finds that the version adopted earlier by the House majority creates or maintains nearly three times as many jobs as an alternative proposed by House Republicans. As EPI researcher Ethan Pollack explains, the difference is due to the size of the packages and the GOP bill's reliance on inefficient tax cuts for high income households and businesses rather than targeted tax cuts and public investment. READ MORE
Data released today show that there were 2.7 million job openings in December, down 6% from November 2008 and down 32% from the start of the recession in December 2007. Meanwhile, the ranks of the unemployed are growing. “This means that there were 4.1 job seekers per available job – more than double the number of job seekers per available job at the beginning of the recession, which stood at 1.9 in December 2007,” said EPI economist Heidi Shierholz. READ MORE
The recent cuts to the Senate recovery bill focused on two major provisions: fiscal aid to states and school construction. EPI Researcher Ross Eisenbrey explains how the $19.5 billion in school construction that was cut from the bill is vital to economic recovery, energy efficiency, and long-term global competitiveness. READ MORE
The recent cuts to the Senate recovery bill focused on two major provisions: fiscal aid to states and school construction. EPI Policy Analyst Ethan Pollack explains how the $40 billion cut in aid to states will result in more economic ruin and argues that the money must be restored to the bill. READ MORE
The latest twist in the Congressional wrestling over a stimulus plan centers on a proposed amendment that would cut more than $107 billion out of the stimulus package and cost as many as 650,000 jobs. As EPI experts Ross Eisenbrey and Christian Dorsey explain, the amendment would cut some of the most effective spending in the plan and would be a tremendous mistake. READ MORE
The proposed labor law reform bill known as the Employee Free Choice Act would help to restore balance between workers and their managers and limit the bruising fight that employees often encounter when they try to form a union. The bill could be introduced in the House this week, but already the Chamber of Commerce has mounted an aggressive campaign against it. EPI researchers Ross Eisenbrey and David Kusnet have compiled a set of 15 questions and answers to help explain how the law would work. READ MORE
General Electric, Caterpillar and their allies in the Chamber of Commerce are attacking “Buy American” provisions included in the economic recovery bill passed by the House. These companies are self-interested, simply wanting unlimited access to imports, many of which are illegally subsidized and unfairly traded. Congress is finally reining in runaway corporations, and that’s real progress. READ MORE
Not a single Republican voted for the economic recovery package that passed the House Wednesday night, despite the inclusion of wasteful business tax cuts to appease them. EPI President Lawrence Mishel writes that those tax cuts should now be stripped from the package, and that future legislation should not be watered down in such a way. READ MORE
This week, a CBO report projected a "delayed outlay rate" for infrastructure investments approved now, causing some conservatives to question the value of spending over tax cuts for economic stimulus. As EPI Policy Analyst Ethan Pollack explains, the estimate is probably low for various reasons. Also, given the expected long nature of this recession, it doesn't make sense to choose the end of 2010 as an arbitrary cut off to measure the effectiveness of a stimulus package. READ MORE
Numbers released by the BLS this morning show that union membership grew in 2008 despite a rocky economy. EPI President Larry Mishel writes that these numbers "suggest that unions are making a comeback under very difficult circumstances". READ MORE
In a written statement submitted to the Senate Finance Committee on Thursday, Timothy Geithner, the Obama Administration’s nominee for Treasury Secretary, said that China was “manipulating” its currency. As EPI senior economist Robert Scott writes, this suggests that the new Administration may be willing to take tougher steps against China’s illegal efforts to artificially cheapen its imports, thereby subsidizing and stimulating exports to the United States and other countries. READ MORE
on the No Child Left Behind Act (NCLB) and Accountability READ MORE
The New York Times and Washington Post both recently featured front page headlines claiming President-elect Obama plans to 'overhaul' retirement programs. But as EPI economist Monique Morrissey notes, the stories -- and the reporter's questions that generated them -- reflect a lack of understanding in the news media about the real problem of so-called entitlements. At the root of it all, as Obama and his advisors have acknowledged, is a dysfunctional health care system. READ MORE
The Obama transition team expects to create 3.7 million jobs under the 2-year $775 billion plan announced last week. An EPI analysis found a 5-million job creation from a similar investment. The numbers are roughly consistent, given the uncertainties involved in making such a projection. READ MORE
Only 37% of jobless workers actually collect unemployment insurance, much less than in the past and a reflection of how outdated the Depression-era system has become. Legislation to modernize and expand the system is making its way through Congress, and colleagues at the National Employment Law Project have compiled a fact sheet to explain how it would work. READ MORE
Hit by a collapsing U.S. economy and growing imports from China, domestic steel production has declined more than 50% from a year ago, according to EPI senior economist Robert Scott in his post for Manufacture This. READ MORE
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