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Press release: Crain and Crain study based on fundamentally flawed economic model and faulty data
Claims by researchers Nicole and Mark Crain that government regulations cost $1.75 trillion are fundamentally flawed, says a new critique released today by the Economic Policy Institute. Flaws call for rejecting Crain and Crain model by research and policy director John Irons and Andrew Green, is a thorough critique of the deficient model Crain and Crain developed to estimate the cost of “economic regulations,” which account for 70 percent of the large cost of regulations they found in the 2010 study they wrote for the Small Business Administration’s Office of Advocacy that is often cited by critics of regulations.
This paper looks at economic security for working families, and shows how a national paid sick days policy — providing a few federally protected paid days off each year that workers can use to recover from illness, care for sick family members, or seek medical care — would promote workers’ financial stability and the economic security of their families.
Some have suggested that part of the reason the unemployment rate remains stubbornly high is that too many American workers lack the skills and education currently demanded by employers.
Many workers who have not lost their jobs during the recession have lost wages. Wage growth slowed dramatically in recent months and many employers are cutting hours, threatening to further limit consumer consumption and delay an economic recovery.
Over the past 30 years, the compensation for minimum wage workers has fallen dramatically out of step with their education level.