The impending disaster is preventable, according to economists at the Economic Policy Institute, but the refusal of Republicans to act is already having spillover effects that are crippling the economy. And unless Congress takes action during the lame-duck session, the pain and suffering to come by year’s end is inevitable.
Common Dreams
November 19, 2020
According to the Economic Policy Institute (EPI) African Americans make up 12.5% of the population, but account for 22.4% of COVID-19 deaths. Chronic and pre-existing conditions such as asthma, hypertension and diabetes that already exist at higher rates for Black and Brown put us at greater risk for contracting the virus. Also, communities of color tend to be more densely populated therefore making spread of the virus easier in our households. Environmental issues like air pollution put us at increased risk for heart disease, respiratory distress and lung cancer further increasing our susceptibility to the virus. But it is racism and economic inequality that put us at even greater risk.
New York Amsterdam News
November 19, 2020
EPI minimum wage tracker cited.
NPR
November 19, 2020
Elise Gould, a senior economist at the Economic Policy Institute, told Newsweek she believes a form of student loan cancellation would be beneficial, particularly amid the widespread economic fallout of the ongoing COVID-19 pandemic.
“I think it’s gonna be hugely beneficial to those who have taken on a lot of debt. I’m particularly concerned with those borrowers who didn’t necessarily finish college and are racked with debt that is making their economic lives particularly difficult,” Gould said. The economist pointed out that the burden of debt for a particular individual depends a lot on how much they’ve borrowed and how much their annual income is. She suggested it may be better to find a policy that “balances” these factors instead of blanket loan forgiveness.
Newsweek
November 19, 2020
Under a Joe Biden administration, frontline workers and women – many of them people of color – hope to see the federal minimum wage raised. VOA’s Veronica Balderas Iglesias looks at the pros and cons.
Features interview with Ben Zipperer.
Voice of America
November 19, 2020
New unemployment claims may be declining, but the U.S. economy is still facing a huge jobs shortfall since the number of openings is down 10 million from where it was in February, according to recent data from the Economic Policy Institute.
CNBC
November 19, 2020
The Economic Policy Institute, a progressive research firm, studied black unemployment during the pandemic. There are three main groups of workers in the COVID-19 economy, said a report from Elise Gould, a senior economist, and Valerie Wilson, director of the institute’s program on race, ethnicity and the economy.
One group of people has lost their jobs and faces economic insecurity. Another involve people classified as essential workers and face health insecurity as a result. The third can continue working from the safety of their homes.
“Unfortunately, black workers are less likely to be found in the last group,” the researchers found.
Sacramento Bee
November 19, 2020
If nothing changes, more than 13 million people are at risk of seeing their benefits end, potentially leaving them with less money to pay the rent, buy groceries or cover other bills.
‘The bottom line is that many workers will see a massive drop in living standards and increases in poverty,’ said Heidi Shierholz, director of policy for the Economic Policy Institute.
Daily Mail
November 19, 2020
Up to 12 million Americans have lost their job-based health insurance, the Economic Policy Institute found.
The Guardian
November 19, 2020