The industry profits by paying its employees less than the minimum wage, relying on the largesse of patrons to make up the difference. This is due to a “tip credit” employers receive from the federal government, which is supposed to equal the difference between the cash wages paid and the federal minimum wage. Unfortunately, employers routinely neglect the responsibility to make up that difference themselves. In fact, according to the Economic Policy Institute, “investigations [in 2018] of over 9,000 restaurants in the U.S. … found that 84 percent of investigated restaurants were in violation of wage and hour laws, including nearly 1,200 violations of the requirement to bring tipped workers’ wages up to the minimum wage.”
Current Affairs
October 23, 2020
Según un análisis del Economic Policy Institute, al ritmo del aumento de la tasa de desempleo generada por el coronavirus, más de 12 millones de personas pueden haber perdido sus seguros de salud desde febrero.
Hola Insurance
October 23, 2020
The longer the pandemic drags on, the larger the backlog of young people, according to Economic Policy Institute senior economist Elise Gould. Older workers could take jobs that would typical go to entry-level applicants, Gould said.
Employers “don’t necessarily even have to pay more to get workers with more experience,” Gould said. “So those young workers may be left out.”
Bloomberg
October 23, 2020
The Economic Policy Institute, a non-profit, non-partisan Washington, D.C. think tank, analyzed a dozen historical examples of U.S. emissions reduction regulations that industry opposed based on projected high costs. Across the board, compliance costs were routinely much lower than expected.
David Suzuki Foundation
October 23, 2020
The Economic Policy Institute, a non-profit, non-partisan Washington, D.C. think tank, analyzed a dozen historical examples of U.S. emissions reduction regulations that industry opposed based on projected high costs. Across the board, compliance costs were routinely much lower than expected.
David Suzuki Foundation
October 23, 2020
Nina Banks, “Black women’s labor market history reveals deep-seated race and gender discrimination” (Washington: Economic Policy Institute, 2019), available at https://www.epi.org/blog/black-womens-labor-market-history-reveals-deep-seated-race-and-gender-discrimination/.
Center for American Progress
October 22, 2020
Capital and Main
October 22, 2020
The jobs boost from these projects would be enormous. New research by the Economic Policy Institute found such a program could generate between 6.9 and 12.9 million new U.S. jobs between 2020 and 2024. Much of that work would be concentrated in high-wage industries like manufacturing and construction. Overall, investing in infrastructure and renewable energy would support strong job creation in all 50 states.
Duluth News Tribune
October 22, 2020
An analysis by the Economic Policy Institute (EPI) found that the plan would add a minimum of 2 million jobs through infrastructure investments, 1.3 million jobs by investing in clean energy and energy efficiency improvements, and 3.5 million jobs from trade and competitiveness policies. At least 2.5 million of the jobs would be in U.S. manufacturing.
Alliance for American Manufacturing
October 22, 2020
Many reports attribute the purported decline in Americans’ retirement security to the generations-long shift from traditional defined benefit (DB) pensions to defined contribution (DC) retirement accounts, including 401(k)s and individual retirement accounts (IRAs). For instance, a study published by the progressive-leaning Economic Policy Institute states, “The shift from pensions to account-type savings plans has been a disaster for lower-income, black, Hispanic, non-college-educated, and single workers, who together add up to a majority of the American population” (Morrissey 2019). Monique Morrissey concludes that the US “retirement system does not work for most workers,” which in her view “underscores the importance of preserving and expanding Social Security, defending defined benefit pensions for workers who have them, and seeking new solutions for those who do not.”
But this is not the first time we have heard such dire warnings. In a 2002 Economic Policy Institute book, economist Edward N. Wolff (2002) analyzed the retirement prospects of Americans born between 1934 and 1951. These households were age 47 to 64 in 1998, the year of Wolff’s analysis. Like Morrissey today, Wolff concluded that the shift from traditional pensions to 401(k)-type retirement accounts had been highly detrimental to the retirement income security of the typical US household. Wolff projected that 18.5 percent of the 1934-51 cohort households would retire into poverty, an increase from prior birth cohorts. Wolff also projected that 56 percent of the 1934-51 birth cohorts would have retirement incomes below 75 percent of their incomes immediately preceding retirement, a commonly used benchmark for retirement income adequacy.
Insurance News
October 22, 2020