According to the nonprofit Economic Policy Institute, the recovery funds being “prematurely” phased out coupled with continued gaps in state and local revenues, “left a total shortfall of nearly $1,000 per student in 2012-2013, a point when the economic recovery was purportedly in full swing.”
Richmond Times-Dispatch
June 24, 2022
Most of the continuing trade relationship is driven by the soaring dollar, which is only going to make it more difficult to decouple, said Robert Scott, a longtime expert in U.S.-China trade at the progressive Economic Policy Institute. Thanks to tightening by the U.S. Federal Reserve and large-scale buying of U.S. financial assets as a safe haven, it has become far more expensive in recent months to sell U.S. goods abroad—and cheaper once again to buy Chinese.
Foreign Policy
June 24, 2022
Overall, wages are growing at 5.2% a year. But wages for some of the lowest-paid workers — those in bars and restaurants, truck-driving and warehousing — are up well over 11%. There’s simply been too much demand for service workers and not enough supply. But this dynamic is fragile, according to Heidi Shierholz at the Economic Policy Institute.
Marketplace
June 24, 2022
In the last year, however, “nominal wage growth…has lagged far behind inflation,” Josh Bivens, research director at the labor-supported Economic Policy Institute, wrote last month. That means “labor costs are dampening — not amplifying — price pressures.”
Los Angeles Times
June 24, 2022
The Economic Policy Institute, a nonprofit think tank, found that only 15.8 million Americans were represented by unions in 2021, a decline of 581,000 from 2019.
The Progressive
June 24, 2022
“It doesn’t seem like a high probability,” said Josh Bivens, director of research at the Economic Policy Institute.
CNBC
June 24, 2022
A 2021 analysis of government data by Reuters found that at the end of 2019, the average unionized retail worker earned roughly $730 per week, compared to $670 for their nonunion counterparts. Another report, from the Economic Policy Institute, found that unionized workers earn 11.2% more on average than nonunion workers in the same industry. This, in part, is one of the reasons that the Biden administration has sought to beef up union membership, even stating that “it is our administration’s belief that unions benefit all of us” in a recent report.
Fast Company
June 24, 2022
The link between workers’ bargaining power and inflation is apparent to Federal Reserve Chair Jerome Powell, who in March noted the need to “get wages down.” But as economist Josh Bivens at the Economic Policy Institute argues, we don’t need a recession to inhibit worker bargaining power. Worker bargaining power is already inhibited. Workers’ real wages have declined over 3%—average hourly earnings growth of 5.2% has been exceeded by inflation of 8.6%.
Forbes
June 17, 2022