EPI in the news

• Wage Violations By Krispy Kreme Lead To $1.2 Million Settlement

  The fact that this figure hasn’t changed since 2009 (in spite of record-high inflation) caused wages to reach their lowest real value (when accounting for inflation) in 66 years, according to the Economic Policy Institute. But, per the investigation, Krispy Kreme failed to meet this less-than-$11 compensation for 516 employees working overtime. (Yikes.)

  Tasting Table | November 23, 2022
• Which is worse, inflation or recession?

  According to the Economic Policy Institute (EPI), “many voices in this debate have implicitly or explicitly argued that recession and inflation cause equivalent damage, or that inflation actually causes worse damage than recession. This view is clearly wrong — the economic damage wrought by recessions is far greater than that by single-digit inflation rates. Inflation, on the other hand, is pure redistribution in the short run, but does not directly reduce incomes in the aggregate.”

  Monroe News | November 23, 2022
• The Great Resignation is (slowly) losing steam

  The number of quits has now exceeded the pre-pandemic high for 19 consecutive months, as more than 4 million Americans voluntarily left their jobs in 17 of the past 19 months. Meanwhile employers, especially in low-wage sectors, are still struggling to fill open positions. The reasons for this trend are of course manifold, but one major driver appears to be that many workers are no longer willing to put up with the pay and/or working conditions they (perhaps grudgingly) accepted prior to the pandemic. “I certainly think that the pandemic has led many people to reevaluate their work and their priorities and what they want to do,” Elise Gould, senior economist at the Economic Policy Institute said in a statement to Business Insider.

   
  World Economic Forum | November 23, 2022
• Employment shortages hit local school districts

  According to Economic Policy Institute, or EPI, a number of factors have contributed to staffing issues in schools around the country for teachers, paraprofessionals, substitutes, bus drivers, food service and custodial workers. One larger contributing factor is pay for those in public K-12 professions, with EPI reporting, “…school teachers are paid 19.2% less than similar workers in other occupations.”

  Jefferson Star | November 23, 2022
• Opinion: Right-to-work isn’t working for Michigan

  Residents of Michigan should welcome such a repeal because right-to-work laws hurt workers. According to a study by the Economic Policy Institute, workers’ wages in right-to-work states are 3.1 percent lower than in non-right-to-work states, after adjusting for differences in the cost of living. Put another way: a worker’s wages are, on average, some $1,600 lower per year.

  Detroit Free Press | November 23, 2022
• As More States Legalize Cannabis, More Cannabis Workers Push For Unionization

  According to a report by the Economic Policy Institute, the high-road scenario for cannabis legalization offers the industry an opportunity to be a model of good jobs. Through unionization, the report outlines how existing unionized cannabis businesses are benefiting from a formalized workers’ voice.

  Forbes | November 23, 2022
• Getting Ahead: Raising Minimum Wage

  The other concern offered by opponents to the minimum wage increase is that it is inflationary, and we are already having a problem with inflation. Open Sky cites research from the Economic Policy Institute, showing that raising the minimum wage to $15 over five years would increase overall price levels by less than 0.1% per year.

  Star-Herald | November 23, 2022

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