Today, many Americans rely on savings in 401(k)-type accounts to supplement Social Security in retirement. This is a pronounced shift from a few decades ago, when many retirees could count on predictable, constant streams of income from traditional pensions.
Yesterday, President Obama gave a speech at Knox College outlining his vision for the US economy. As EPI President Larry Mishel notes, the speech did a great job diagnosing the failure of our economy (and our economic policies) to strengthen and reward the middle-class, even if it was a bit light on prescriptions to address these failures.
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.
Escalating CEO compensation is a major contributor to income inequality. Along with financial sector pay, growing CEO compensation has helped more than double the income share of the top 1 percent over the past three decades.
Chief executive officers at the largest firms in the restaurant and hospitality industry have done extremely well financially, even as many of their employees have struggled to get by.
This working paper presents the methodology for computing the trends in chief executive officer compensation and the ratio of CEO compensation to that of a “typical” worker, known as the “CEO-to-worker compensation ratio.” This methodology was used to produce CEO Pay in 2012 was Extraordinarily High Relative to Typical Workers and Other High Earners, EPI Issue Brief # 367, available at http://www.epi.org/publication/ceo-pay-2012-extraordinarily-high/.
The 1980s, 1990s, and 2000s were prosperous times for top U.S. executives, especially relative to other wage earners and even relative to other very high wage earners (those earning more than 99.9 percent of all wage earners).
Health expenditures in the United States are incredibly concentrated. For instance, individuals can go years without spending much at all, but when one suddenly falls ill or gets into a severe accident, the costs can be enormous.
Though there has been some improvement over the last year, job prospects for young graduates remain dim. Thus, the Class of 2013 will be the fifth consecutive graduating class to enter the labor market during a period of profound weakness.
Of the many proposals in Tuesday night’s State of the Union address, the one that seems to be receiving the most attention (especially in the Twitterverse) is President Obama’s plan to raise the federal minimum wage from $7.25 to $9.00 an hour by 2015.
The results of the 2011 American Community Survey (ACS), released today by the U.S. Census Bureau, show that households across the United States are still coping with the damage wrought by the Great Recession.
There have been some interesting responses by conservatives to the new data Natalie Sabadish and I have released on the CEO-to-worker pay ratio.
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.
That the incomes of the top 1 percent have fared fabulously is well known, and deservedly so. But it was not until the analysis of tax returns by Jon Bakija, Adam Cole, and Bradley Heim that it could be documented that the doubling of the income share of the top 1 percent could be directly traced to executive compensation and finance-sector compensation trends.
The wages and compensation of executives, including CEOs, and of workers in finance reveal much about the rise in income inequality.
This working paper presents the methodology for computing the trends in chief executive officer compensation and the ratio of CEO compensation to that of a “typical” worker, known as the “CEO-to-worker compensation ratio.”
Annual compensation of a typical worker
Unfortunately, it is not possible to measure the actual wages and benefits of any particular firm’s U.S.
Inequality means that some income earners claim a larger slice of the pie than others. Some people might argue that this is not such a big problem if everyone has an equal shot at winding up at the top.
The Emergency Unemployment Compensation (EUC) program, part of the American Recovery and Reinvestment Act, is a federally-funded program that provides unemployment insurance (UI) benefits to the millions of Americans who lost their jobs in the Great Recession and who have exhausted or no longer qualify for unemployment benefits through existing state programs.
This morning the U.S. Census Bureau released state and local data on poverty levels, income, and health insurance coverage from the 2010 American Community Survey (ACS).