Media clips

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• Wall Street at record high after jobs report – business live

  Payroll growth over the last three months in the US has been ‘huge’, says Heidi Shierholz, director of policy at the Economic Policy Institute (and former chief economist at the Department of Labor)

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  Total nonfarm payroll employment rose by 850,000 in June, following increases of 583,000 in May and 269,000, today’s report shows – or around 1.7 million new jobs.

  Shierholz also points out that the recovery is much faster than after the financial crisis — but doesn’t see worrying signs in the wage data:

  The Guardian July 12, 2021
• Opinion

  We are in the midst of a teacher shortage crisis. The Economic Policy Institute’s final report in their series, “Perfect Storm in the Teacher Labor Market,” noted only 30 percent of teachers report feeling they have the power to select instructional materials, topics, or skills to be taught in their classrooms. The authors suggest public policy “ensure[s] that teachers have a say in the curriculum they teach, the classroom practices they follow, and the materials they use.” Federal protection of academic freedom does that; state bans do the opposite.

  Newsweek July 12, 2021
• What Happens Economically When Wealth Tilts to the Top?

  Facts like this: Between 1979 and 2019, the Economic Policy Institute reported this past December, the bottom 90 percent of American paychecks barely annually increased at all. In effect, EPI observes, wages for the bottom 90 percent have been “continuously redistributed upwards” — “frequently” to the top 1 and 0.1 percent.

  Inequality.org July 12, 2021
• Families Struggle With Child Care Costs As Life Returns To “Normal”

  Even before the pandemic, child care was known for it exorbitant costs, which vary by state. The average annual cost of child care for a 4-year-old in New York costs $12,358, according to the Economic Policy Institute, a nonprofit, nonpartisan think tank. In Kentucky, it costs $6,411 but is still categorized as “out of reach” for low-wage workers. Overhead costs, liability insurance, licensing fees and labor costs contribute to the overall price tag.

  Forbes July 12, 2021
• Top 10 Cities for Working Parents – 2021 Edition

  Additionally, the state of Arkansas has the third-lowest average annual childcare costs – less than $6,200, according to data from the Economic Policy Institute.

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  Average annual childcare costs range from roughly $5,100 to more than $21,600. Using data from the Economic Policy Institute, we calculated average annual childcare costs, averaging the expected annual cost of infant care and the cost for care for a four-year old in each state.

  Yahoo Finance July 12, 2021
• 200+ Groups to Democrats: $6 Trillion ‘Should Be the Floor’ for Climate and Infrastructure Bill

  Led by the Progressive Caucus Action Fund, the Economic Policy Institute, the Institute for Policy Studies, and the Poor People’s Campaign, the joint statement characterizes the $6 trillion framework proposed by Sen. Bernie Sanders (I-Vt.) as the “minimum scale necessary to tackle our nation’s most urgent challenges.”

  Common Dreams July 12, 2021
• Let the Market Fix Labor Shortages

  Yet quickening wage growth isn’t the only hallmark of a shortage. The telltale sign is seeing this trend alongside stalling job growth, as Heidi Shierholz, senior economist and policy director at the Economic Policy Institute puts it. Just look at what’s been happening in the leisure and hospitality sector, among the most bruised by the Covid-19 shutdown. After jobs all but vanished in the throes of the pandemic, we’re starting to see a rebound: In May, the sector created 292,000 jobs, far outpacing other corners of the economy and contributing heavily to the overall increase in nonfarm payrolls of 559,000. June data, to be released Friday, are expected to show still stronger gains. Meanwhile, average weekly earnings have been rising faster than many other industries. In other words, the market is working to resolve a shortage: When employers lift wages, they’re able to attract the employees they need, as Shierholz said in a recent podcast. (She also notes that leisure and hospitality wages are only just meeting pre-Covid levels; they are not too high.)

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  Compare that with what happens in the U.S., where the conversation is largely driven by businesses trying to influence policy makers behind closed doors, write Daniel Costa of the Economic Policy Institute and Philip Martin, an economics professor at the University of California, Davis. “While the data are sometimes clear, in many cases, shortage determinations are an inexact and subjective science,” Costa wrote in an email. Without a credible source of information and set of objective criteria, we’re ceding the debate to the loudest lobbyists with the fattest wallets.

  Newsday July 12, 2021
• High Unemployment, Openings, Ignite Seasonal Worker Visa Debate

  “Those workers are not free agents that can go work wherever the economy needs them most. They don’t just switch jobs and move on to higher wages if they find a better job,” said Daniel Costa, director of immigration law and policy research at the Economic Policy Institute. Reform is needed for nonimmigrant visas that restrict worker rights, he added—not just H-2B visas, but H-2A visas and L-1 visas, which are for transfers of executives or managers within a company.

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  “Historically, employers have pushed for relaxing visas and relaxing immigration policies in order to maintain a low-wage workforce,” he said.

  Bloomberg Law July 12, 2021
• Study: Working From Home A Mixed Bag For Black Workers

  The Economic Policy Institute found that Black workers were less likely to work at home than their white and Asian counterparts. It’s estimated that only about 20% of Black workers can work from home. Black workers are also less likely to work from home regardless of education level.

  NewsOne July 12, 2021
• US restaurant sales are back to pre-pandemic levels, so why isn’t restaurant employment?

  But workers’ leverage may be shortlived, says Heidi Shierholz, an economist at Economic Policy Institute.

  Quartz July 12, 2021