Black women
Black families lose insurance coverage - just one of the many harms to working communities from the loss of ACA tax credits
ACA tax credits
Two multi-ethnic mature workers in their 40s at the back of a truck, loading or unloading a large cardboard box. The men are wearing plaid shirts, reflective vests and jeans.
Worker pay
Trump is pushing to include risky assets in 401(k)s Graphic shows 2 older people walking up the bars of a graph but the bars are cracking and falling like ancient pillars
401(k)s

The 2025 labor market can best be characterized as faltering. The national unemployment rate climbed to its highest point in four years, job growth slowed dramatically, and federal employment fell by a staggering 277,000. Black women bore the brunt of the economic slowdown, suffering far greater employment losses than other groups of women or Black men.

In one of the sharpest one-year declines in the last 25 years, Black women’s employment rate fell by 1.4 percentage points to 55.7%.

What is going on →

Following the January expiration of the Affordable Care Act (ACA) premium tax credits, millions of working families have lost health care coverage. Millions more face much higher premiums.

Black families disproportionately face these impacts since they are more likely to live in states without Medicaid expansion, and they are more likely to have lower and less stable incomes. 

Reinstating and extending the ACA premium tax credits is crucial for equity-enhancing, race-conscious economic and public health policy. Understand the impacts →

Low-wage workers saw their real wages decline in 2025, a sharp reversal from the historically fast real wage growth they had experienced over the previous five years. This reversal was not inevitable—it was caused by policy decisions that weakened the labor market.

The Trump administration chaotically imposed historically high tariffs, conducted cruel mass deportations, and implemented massive layoffs among federal agencies—all of which led to increased economic uncertainty.

Low- and middle-wage workers have suffered from decades of slow and suppressed wage growth. To improve affordability, policymakers can and must raise wages.

Get the 2026 outlook for wages →

Instead of protecting the millions of workers with retirement accounts, Trump and his administration are knocking down guardrails that protect retirement savers.

Trump is proposing to make risky investments more widely available to ordinary savers and make it harder to sue retirement plan sponsors and advisors who encourage these types of investments. The Trump family has also seen enormous profits from cryptocurrencies—one type of risky asset being considered—from their $2 billion crypto-based businesses.

Everything you need to know about 401(k)s and this new rule →

EPI in the news

  • Toledo Blade | February 10, 2026
  • 24/7 Wall St. | February 10, 2026
  • Damage Magazine | February 10, 2026
  • Bloomberg Law | February 10, 2026
  • Damage Magazine | February 9, 2026
  • Bloomberg Law | February 9, 2026
  • Damage Magazine | February 9, 2026

More EPI in the news