“Higher unemployment lowers wage growth much more reliably and by larger amounts than it lowers inflation,” notes Josh Bivens, director of research at the Economic Policy Institute, noted last week. “Currently, wage growth is decelerating. This means there is no genuine need for a recession to pull wage growth down to sustainable levels.”
Common Dreams
July 20, 2022
Teresa Ghilarducci is the Schwartz Professor of Economics at the New School for Social Research. She’s the co-author of “Rescuing Retirement” and a member of the board of directors of the Economic Policy Institute.
Bloomberg
July 20, 2022
CEO pay has skyrocketed in recent decades: CEO compensation rose 1,322.2% from 1978 to 2020 adjusted for inflation, compared to an 18% increase in worker compensation, according to an Economic Policy Institute analysis released last year. The Covid-19 pandemic accelerated the gap in compensation, a New York Times study conducted by Equilar last June revealed.
Forbes
July 20, 2022
Daniel Costa’s testimony before the Education and Labor Committee.
U.S. House Education and Labor Committee
July 20, 2022
The current federal minimum wage of $7.25 per hour is worth less today than at any point since February 1956, according to a report by the Economic Policy Institute (EPI). Then, the minimum stood at 75 cents per hour, or $7.19 in today’s dollars.
Fortune
July 20, 2022
Factoring in the latest inflation data, the current value of the U.S. minimum wage in real dollars is at its lowest level since February 1956, when the base U.S. wage was 75 cents (or $7.19 in June 2022 dollars), according to the Economic Policy Institute, a left-leaning think tank that favors raising worker pay.
CBS News
July 20, 2022
While the UK economy is subject to the same global factors as other countries … strikingly in a recent report by the Economic Policy Institute. (paywall)
The Times
July 20, 2022
Based on June’s CPI report, the federal minimum wage, adjusted for inflation, sank to its lowest value than at any point since 1956, according to the Economic Policy Institute.
Fortune
July 20, 2022
An Economic Policy Institute report found that union members are paid 11.2% more on average than non-union employees. This extra income can really help if you’re looking for ways to crush your debt.
Finance Buzz
July 20, 2022
Several tools exist to help users understand the various components of the federal budget. The Economic Policy Institute has developed an interactive tool that leads viewers through the key elements of the federal budget while showing them how households with their level of income compare to others. Similarly, the United States Treasury has created an in-depth interactive explorer that allows users to take a deep dive into how spending is allocated by program or by agency.
Peterson Foundation
July 20, 2022
