One, Matt Stoller of the American Economic Liberties Project, predicted continuing higher inflation last December and said 60% of it is due to corporate thirst for ever-rising profits. Others, including the Economic Policy Institute, agree. They just differ on numbers.
People’s World
August 5, 2022
Since 2009, when the federal minimum rose to $7.25 an hour, it’s lost more than one-fourth of its purchasing power. When factoring in inflation, today’s minimum wage hasn’t been worth this little since the 1950s, according to calculation from the Economic Policy Institute.
CBS News
August 5, 2022
“Layoffs continue to be low in historical terms and high levels of quits signal workers seeking [and finding] better opportunities,” Elise Gould, senior economist at the Economic Policy Institute, said in a note on Tuesday.
Al Jazeera
August 5, 2022
Then comes the multiplier effect, which refers to the impact an investment will have on jobs and an economy. According to the Economic Policy Institute, for every 100 direct jobs created in semiconductor manufacturing, there are 192.2 indirect jobs created.
The Huntsville Item
August 5, 2022
Inflation is impacting Ohio’s teachers, too. They spent an average of $444 to stock their classrooms in 2018, per the Economic Policy Institute — or $555 in today’s dollars.
Axios
August 5, 2022
Researchers at the Economic Policy Institute recently noted that after adjusting for inflation data, the minimum wage sits at its lowest point in 66 years. Put another way, in 1956, the 75 cents per hour wage bought someone as much as $7.25 does today.
Route Fifty
August 5, 2022
A 1% increase in pay would amount to an 8% decline in purchasing power, according to Heidi Shierholz, president of the Economic Policy Institute, who served as the Labor Department’s chief economist under President Barack Obama. And some economics research suggests inflation won’t ease in the near future.
Bloomberg
August 5, 2022
As the cost of everything from fuel to food increases, the value of the dollar decreases. That means workers are seeing the purchasing power of their paychecks shrink. In fact, the value of the federal minimum wage is now at its lowest point since 1956, according to an analysis by the Economic Policy Institute (EPI).
Forbes
August 5, 2022
“It’s a huge problem,” said Heidi Shierholz, president of the Economic Policy Institute, a left-leaning think tank. “Inadequate pay has been a huge reason teachers and support staff in state and local government have quit. In order to attract and retain workers they need, they will have to not just hire workers but raise pay.”
The Washington Post
August 5, 2022