The national average price of childcare for 2023 was $11,582, according to Childcare Aware of America, which requires 10% of a couple’s median income to be able to afford. The city of Washington D.C. and states like California, Massachusetts and New York are among the highest overall in costs, according to the Economic Policy Institute, with the average in Massachusetts being $20,913 and in California, $16,945.
GO Banking Rates
June 24, 2024
You’ll need to earn around $25 per hour to live on your own in the United States’ 25 largest cities.
That’s a median figure: You’ll need more in cities like San Francisco or Boston, and less in San Antonio or Detroit. The money covers a single person’s basic expenses like housing in a studio apartment, food, health care and transportation, based on estimates from the nonprofit Economic Policy Institute’s Living Wage Family Budget calculator.
CNBC
June 24, 2024
Research by the Washington, D.C.-based Economic Policy Institute showed that between 1978 and 2021, CEOs at the top 350 public firms in the U.S. saw their average compensation package grow by 1,460%, adjusted for inflation. For comparison, the S&P stock market grew by 1,063% in that time; the top 0.1% of U.S. earners’ growth was a healthy 385%, and a typical U.S. worker’s wages rose 18.1%.
Study after study has shown that large companies’ performance, including stock price, bore almost no relation to how much the companies paid their CEOs, said Josh Bivens, the EPI’s chief economist.
“The research on that just gets stronger and stronger,” Bivens told Capital & Main. “You look at the highest-paid CEOs versus the lower-paid ones, then look at returns to shareholders 10 years later. You just get no relationship at all between more pay and higher return to shareholders — and that is assuming that all anyone cares about with CEO pay is the return to shareholders.”
Capital & Main
June 24, 2024
The Economic Policy Institute found child care costs for one infant are nearly 16% of a median family’s income in Texas. The average cost of child care for a 4-year-old Texan is $7,062 a year, or $589 every month. The average cost for an infant is $9,324, or $777 per month.
KERA
June 24, 2024
According to the Economic Policy Institute, the ratio of CEO pay to typical worker’s compensation was 351 to 1 in 2020, up from 61 to 1 in 1989 and just 21 to 1 in 1965. That’s an increase of 1,322% for CEOs from 1978 to 2020 versus a typical worker pay increase of just 18% over the same time-period. Tesla CEO Elon Musk just convinced his shareholders to pay him a whopping $56 billion bonus for one year of sales results.
Baltimore Sun
June 24, 2024
The unemployment rate among Black Americans has consistently been twice that of white Americans, according to the Economic Policy Institute, while in a 2021 Gallup poll, one in four Black and Hispanic workers in the US reported recent discrimination at work.
Financial Times
June 21, 2024
Education Week
June 21, 2024
Today, the projected date is 2035, with rising income inequality contributing to the depletion dates being pushed up, according to the Economic Policy Institute and other experts. Social Security payroll taxes are capped at $168,600 in earnings. As wage growth for high earners outpaces average wage growth, more income falls above the threshold where it is not subject to Social Security payroll taxes, the EPI says.
CNBC
June 17, 2024
The Economic Policy Institute regularly releases figures showing the genuinely outrageous amounts CEOs pull down; the last report found that at the 350 largest companies, CEOs made an average of 344 times more than the typical worker. But Musk is getting about nine hundred sixty thousand times the pay of a Tesla production associate.
American Prospect
June 17, 2024