Media clips

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• Report accuses HCL Technologies of underpaying immigrant workers with H-1B visas

  According to the Economic Policy Institute, HCL Technologies “appear to have been underpaid by at least $95 million.” Its analysis is based on a review of an internal HCL document that came to light as part of a “whistleblower lawsuit” against the firm, EPI added.

  WRAL TechWire December 13, 2021
• Latest Jobs Report: More Ammo for Build Back Better

  Our friends over at the Economic Policy Institute view the November numbers as a temporary blip, and project that the economy is on track to add a total of well over 6.5 million jobs by the end of 2021 and a full recovery by the end of 2022. That’s also a credit to the Biden program.

  The American Prospect December 13, 2021
• America added a disappointing 210,000 jobs in November. But the details paint a different picture

  But even with a smaller-than-expected number for November, job gains this year have totaled more than 6 million, “putting us well on track for a full recovery by the end of 2022,” according to Elise Gould, senior economist at the Economic Policy Institute

  CNN Business December 13, 2021
• Black women see unemployment rate fall sharply in November, but are still left behind in overall labor market recovery

  “The pace of recovery is still uneven. This was one month where we did see a significant drop in unemployment rates for Black women in particular,” said Valerie Wilson, a director at the Economic Policy Institute. “Otherwise, we continue to see the known and established disparities in unemployment rates.”

  CNBC December 13, 2021
• Big company CEOs outearn employees by an average $1.2M, study says

  The widening gap is due largely to a kind of arms race between companies, which each believe “that their CEO should be compensated above average,” according to a CNBC interview with Lawrence Mishel, a distinguished fellow at the Economic Policy Institute. The practice ramped up in the 1990s, he told the outlet.

  HR Dive December 13, 2021
• Analysis Claims Migrant Tech Workers Have Been Underpaid by Tens of Millions

  A new report by the prominent think tank Economic Policy Institute alleges that thousands of migrant IT workers on the H-1B visa program for high-skilled workers have been underpaid by a combined total of at least $95 million annually. 

  Vice News December 13, 2021
• White House officials grow exasperated by media coverage as public sours on Biden economy, rising prices

  “It is surprising to me there’s so little attention to very low unemployment, very historically low Black unemployment, very little receipt of unemployment insurance, unprecedented growth of jobs,” said Larry Mishel, an economist at the Economic Policy Institute, a left-leaning think tank.

  New York Times December 13, 2021
• The S.E.C. Wants to Cut SPACs Down to Size

  Employees may eventually regain some benefits from inflation, as supply-chain shortages that helped drive up prices ease, according to Josh Bivens, the director of research at the Economic Policy Institute. “We have gotten a lot of jobs back,” Bivens told DealBook. By next year, he says, “we will have the good parts of the employment market still working, and the bad parts of the supply chain worked out.”

  New York Times December 13, 2021
• Nobody seems to know what’s going on with the economy

  I talked to Elise Gould, a senior economist at the Economic Policy Institute, about what we do and do not learn from these reports.

  CNN December 13, 2021
• The Fed’s interest rate policies can’t fix this inflation. Here’s why.

  Lawrence Mishel, a distinguished fellow at the Economic Policy Institute, says, “There’s a lot of reasons to think that inflation is transitory. It doesn’t mean it’s going to be two months, it could be a year, but it’s not going to be, you know, 4 or 5% a year for the next five years.”

  CNBC December 13, 2021