I am not as optimistic about my future as my peers tell pollsters they are. Relative to the two previous generations, Millennials have higher levels of student debt, poverty, and unemployment, and lower levels of personal income and wealth.
While many strides have been made in the women’s equality movement, job growth among women and men in the aftermath of the Great Recession is not one.
The monthly Regional and State Employment and Unemployment Summary, released this morning by the Bureau of Labor Statistics, showed more signs of steady, albeit slow, labor market improvement.
In a month, I’ll be leaving EPI to begin graduate school in Seattle, which makes this my last jobs day. I’ve learned a lot in my three years at EPI, and I thought it might be useful to write a series of posts explaining how the work we do has shifted the way I think about economics.
Earlier this month, EPI released its annual “Class of 2014” paper, which examines labor market trends for recent high school and college graduates.
Earlier this month, we released our “Class of 2014” report on the labor market and earnings prospects for the high school and college graduates of 2014.
Today is Equal Pay Day, a reminder that women and men are not always compensated at the same rate. While the widely reported statistic that women, on average, earn 77 cents to every man’s dollar has been is a great indicator that women are put in situations every day that for a variety of reasons mean they earn less, it has been criticized for not measuring individuals of similar characteristics, such as age, occupation, education, or experience.
As we enter graduation season, the media will get flooded with stories of labor market prospects of young people, college graduates, and of course, student debt.
President Obama has directed the U.S. Department of Labor to update the rules that govern overtime pay for white collar, salaried workers (executive, administrative, and professional employees).
The Atlantic’s Derek Thompson wrote a great review of Claudia Goldin’s latest work on closing the wage gap at the upper level of the distribution.
Today marks the fifth anniversary of the Lilly Ledbetter Fair Pay Act. Named after Lilly Ledbetter, who worked for a production plant for years without knowing she was getting paid less than her male counterparts, the bill protects workers against pay discrimination.
The Bureau of Labor Statistics has released new employment projections for 2022. These projections are frequently misinterpreted, and the way BLS presents the data can certainly leave the uninitiated confounded.
Yesterday’s Economic Snapshot showed how women’s and men’s employment prospects have fared in the Great Recession and its aftermath. Women have regained 2.9 million jobs, bringing them back to pre-recession levels, and men have gained 2.7 million jobs, still falling short 1.7 million jobs of their pre-December 2007 levels.
Paul Krugman and Mark Thoma have been discussing (see here and here) the views of the (increasingly influential) very rich on this fall’s fiscal debate.
The growing gap between middle-class incomes and aggregate economic indicators is driven by a range of policy decisions across many arenas. Reconnecting middle-class incomes and overall growth will take more than fiscal policy. But fiscal policy clearly has a role to play, and a genuine commitment to "middle-out economics" should shape fiscal policy decisions.
The Census released its annual income and poverty report this week, which, among other highlights, calculates the number of people who are kept out of poverty by various government assistance programs.
NPR’s Planet Money had a good story this week about problems with the official measure of poverty, noting the general consensus among academics, researchers, and policy analysts alike that the federal poverty line has some fundamental flaws.
McDonald’s recently partnered with Visa to put out what they call the Practical Money Skills Budget Journal (pdf), a “helpful” tool for McDonald’s employees to keep track of their earnings and expenses.
The income level necessary for families to secure an adequate but modest living standard is an important economic yardstick. While poverty thresholds help to evaluate what it takes for families to live free of serious economic deprivation, the EPI Family Budget Calculator—recently updated for 2013—offers a broader measure of economic welfare.
This working paper presents the methodology and data sources used to compute the Economic Policy Institute’s 2013 Family Budget Calculator.
Definition of family
The size of a family dramatically affects the budget needed to maintain a safe and comfortable, but modest, standard of living.
The interest rates on government-backed student loans are set to double if Congress does not act today. Currently, low- and middle-income students can take out federal loans—called Stafford Loans—at a rate of 3.4 percent.
Poverty rates in the United States increased over the 2000s, a trend exacerbated by the Great Recession and its aftermath.
During college graduation season, attention often turns toward the labor market prospects of the young men and women preparing to enter the workforce.
There was a great article in Monday’s Wall Street Journal that discussed the tough job market the Class of 2012 is facing.
Though the labor market is slowly improving, the Great Recession that began in December 2007 was so long and severe that the crater it left in the labor market continues to be devastating for workers of all ages.
While obviously unlikely that the entire industry will disappear, it is fair to say that every one of the United States’ auto-parts jobs is individually at risk from China’s unfair trade practices.
This morning’s release by the U.S. Census Bureau of the 2010 data on income, poverty, and health insurance coverage is yet another reminder of the real and human consequences of the Great Recession and its aftermath.
With unemployment at 9.1% and projections for high levels well into next year and beyond, the agreement to raise the debt ceiling stands to lose out on two key job creators unless Congress acts soon.