The government requires that many employees of contractors be paid a prevailing wage — essentially the going rate for an occupation in a particular place, as determined by the Labor Department — but their pay will rise as a result of the order if the prevailing wage is less than $15 an hour. An analysis by the liberal Economic Policy Institute estimates that up to 390,000 workers will directly benefit.
New York Times
April 30, 2021
“In fact, the pay gap between CEOs and their workers is now among the largest in history. According to one study, CEOs make 320 times what their average workers make.”
Biden is referring to an annual survey by the Economic Policy Institute, a left-leaning think tank, which examines the pay of chief executives at 350 of the largest companies. The ratio of CEO-to-worker compensation was 320-to-1 in 2019, up from 293-to-1 in 2018 and a big increase from 21-to-1 in 1965, the group says.
The Washington Post
April 30, 2021
The move by Biden could raise wages for up to 390,000 workers, according to an analysis by the left-leaning Economic Policy Institute (EPI). Per EPI, half of the workers who will get a raise are Black or Hispanic — and half are women.
Business Insider
April 30, 2021
The order will raise wages for up to 390,000 workers, the left-leaning Economic Policy Institute estimated on Tuesday. Advocates for a higher minimum wage have long supported such a measure for federal workers. Though Biden can’t raise the federal minimum wage for all workers without Congress, raising the wage for federal contracts helps hundreds of thousands and bypasses a legislative body that is stifled by the filibuster.
New York Magazine
April 30, 2021
The Economic Policy Institute estimates up to 390,000 low-wage contractors will see a raise as a result of the executive order. EPI estimates the average annual pay increase for year-round workers will be up to $3,100, largely benefiting women and Black or Hispanic workers.
Yahoo Finance
April 30, 2021
Instead of another round of broad checks, lawmakers should focus on extending unemployment benefits and the child tax credit because they could provide “longer-run fixes” for American households, according to Heidi Shierholz, an economist at the liberal Economic Policy Institute.
USA Today
April 30, 2021
For many Americans, that might sound like an ominous proposal as it would mean things like groceries, restaurant bills, and leisure activities would all cost more, but Robert Scott, a senior economist with the Economic Policy Institute, says higher inflation is actually a good thing.
“A tight labor market and a rapidly growing economy, if we can get there, is going to sustain higher levels of wage increase,” explained Scott. “So, you might be paying more: 2-3% a year more for your food, and groceries, and rent, but your wages might be rising at 3% or 4% or 5% a year. That’s good news. If wages are rising more than prices, you’re going to see a rising standard of living.”
Scripps National News
April 30, 2021
Taken altogether, the proposals mark a “meaningful investment in care, in paid leave, that will help many workers in the formal labor market,” said Elise Gould, senior economist at the Economic Policy Institute. “That will absolutely be good for economic growth.”
Bloomberg
April 30, 2021
Under Biden’s executive order, an estimated 390,000 workers will directly benefit, which about half are women and the rest are Black or Hispanic, according to the Economic Policy Institute.
Arizona Republic
April 30, 2021
Another AFL-CIO alum and Drake’s former boss, Thea Lee, who is president of the labor-friendly Economic Policy Institute, will also be joining the Biden administration in a yet undisclosed role.
Politico
April 30, 2021