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July 29, 2015 | By Lawrence Mishel | BlogMatt Yglesias is an insightful writer, but his recent article, “Hillary Clinton’s favorite chart is pretty misleading” is itself very misleading.
July 15, 2015 | By Lawrence Mishel | Economic snapshotBetween 2007 and 2014 the median worker’s wages and compensation declined, respectively, by 4.0 and 1.9 percent. Among the bottom 40 percent of workers there was an even greater decline in compensation than there was in wages, indicating that including benefits as well as wages in an analysis results in a more adverse trends
July 13, 2015 | By Lawrence Mishel | BlogHillary Clinton appropriately defines her economic policy goal as raising “incomes for hardworking Americans so they can afford a middle-class life” rather than “hitting some arbitrary growth target untethered to people’s lives and livelihoods.”
July 4, 2015 | By Lawrence Mishel | BlogGlenn Hubbard, a leading conservative economist and key adviser to GOP candidate Jeb Bush, does not seem to believe there is a wage stagnation problem.
$16.3 million in 2014, or 997 percent, a rise almost double stock market growth.
June 22, 2015 | By Lawrence Mishel | BlogThe reason to focus on the CEO pay of the largest firms is that they employ a large number of workers, are the leaders of the business community, and set the standards for pay in the executive pay market and probably in the nonprofit sector as well (e.g., hospitals, universities).
June 12, 2015 | By Lawrence Mishel | Press ReleasesI have been engaged in policy deliberations around trade adjustment for thirty-seven years. What was being considered in Congress today was a shell of the initial program and funded by cutting Medicare to boot.
June 2, 2015 | By Lawrence Mishel | BlogA new paper, Firming up Inequality, has been receiving substantial attention in the media for its claim that wage inequality is not occurring within firms but only occurs between firms. Though the authors present valuable new data, which offers the possibility of great insights, their current analysis does not disprove that executive pay has fueled top 1 percent income growth. In fact, the study neither examines nor rebuts claims about executive pay.
May 26, 2015 | By Lawrence Mishel | AudioEPI president Larry Mishel told NPR’s Scott Horsley of Morning Edition that “We have created lots of income, lots of output, lots of wealth over the last three decades, but the problem is it has not accrued to the vast majority.” Watch the video
May 13, 2015 | By Lawrence Mishel | Economic snapshotThe current robot story is that employers are increasingly using machinery, computers or software instead of workers. Perhaps surprisingly to some, the data on investments and productivity cast doubt on any accelerated robot activity: the growth of labor productivity, capital investment and, particularly, investment in information equipment and software has strongly decelerated in the 2000s.
April 10, 2015 | By Lawrence Mishel | BlogThis piece originally ran in The American Prospect. We think of America as the land of opportunity, but the United States actually has low rates of upward mobility relative to other advanced nations, and there has been no improvement in decades.
March 12, 2015 | By Lawrence Mishel | BlogHidden amid all the discussion of when falling unemployment will lead to rising wages are the expectations shared in the media and among economic analysts that we can only expect wages to rise when unemployment is low.
March 3, 2015 | By Lawrence Mishel | AudioEPI president Larry Mishel spoke with WHYY’s “Radio Times” on growing income inequality in the United States. Watch the video
February 9, 2015 | By Lawrence Mishel | VideoEPI President Lawrence Mishel testified before the U.S. House Committee on Education and the Workforce on Wednesday, Feb 4,2015. In his testimony, Mishel said actions such as raising the minimum wage to $12.50 by 2020, strengthening collective bargaining, updating overtime rules, and ending forced arbitration would accelerate wage growth.
Congressional Testimony: Policies that Do and Do Not Address the Challenges of Raising Wages and Creating Jobs
February 4, 2015 | By Lawrence Mishel | TestimonyIt is encouraging that there is now widespread agreement across the political spectrum that the key economic challenge is middle-class income stagnation.
January 19, 2015 | By Lawrence Mishel | BlogOn Tuesday, President Obama will deliver his State of the Union address, which gives him an opportunity to lay out his priorities and set an agenda for the year ahead.
January 6, 2015 | By Lawrence Mishel | ReportThe fact that wage stagnation stems from intentional policy decisions means that fundamental economic forces did not make these trends inevitable. The income, wealth, and wages generated over the last generation were sufficient to provide broadly shared prosperity for all families. There will be substantial growth in income, wealth, and wages over the next few decades as well, and whether the vast majority appropriately benefits from this growth will depend entirely on the policy choices that will be made.
November 17, 2014 | By Lawrence Mishel | BlogThe Washington Post published an editorial on the “wage freeze” on Sunday, revealing the emptiness of its analysis and offering no recommendations for generating wage growth.