Elise Gould, “State of Working America Wages 2019” (Washington: Economic Policy Institute, 2020), available at https://www.epi.org/publication/swa-wages-2019/.
Center for American Progress
October 9, 2020
According to the Economic Policy Institute, the ending of weekly $600 jobless benefits in late July cut personal income by $667 billion, expressed on an annual basis, in August.
“One way to scale this impact is to express it as the equivalent of an across-the-board pay cut for all U.S. workers — in these terms it can be thought of as an economy-wide 7.1% pay cut,” writes the EPI’s Josh Bivens. “In September’s data, when the full $600 is completely gone from personal income data, this will rise to closer to 10%.”
MultiBriefs: Exclusive
October 9, 2020
However, as important as savings may be, many Americans simply aren’t making it happen. One study from GOBankingRates showed that 57% of the 8,000 people it polled had under $1,000 in savings and 39% had nothing saved at all. And, according to the Economic Policy Institute, almost half of American families have nothing in retirement savings.
Star-Herald
October 9, 2020
The real-world consequences of not passing new stimulus at this point in the crisis are “huge,” Heidi Shierholz, a former chief economist at the Department of Labor under the Obama administration, told ABC News.
“It’s literally millions of jobs in the balance here,” Shierholz, who currently works as a senior economist and policy director at the Economic Policy Institute, added.
ABC News
October 9, 2020
As of June 2020, 8 million people have lost their insurance due to pandemic-related job loss. When family members attached to those plans are factored in, 15 million people have been left uninsured. The Supreme Court is scheduled to hear a challenge to the Affordable Care Act in November. Many fear that the court could repeal the act, especially if Judge Amy Coney Barrett is confirmed. Nearly 30 million people would lose their health insurance, estimates the Economic Policy Institute.
Well and Good
October 9, 2020
The reports, released by CWA, the National Digital Inclusion Alliance, and the Economic Policy Institute, cover digital redlining, AT&T’s use of subcontractors, and the effect of subcontracting and union-busting campaigns on wages for telecommunications workers.
Communications Workers of America
October 9, 2020
Workers in several sectors face a full-blown crisis. According to White House economics reporter Jeff Stein, 40 percent of all restaurants face closure in the next six months. Some 50,000 airline workers face layoffs. And the Economic Policy Institute’s Heidi Shierholz told me that more than 20 million jobless workers face an income reduction of more than 60 percent on average.
Common Dreams
October 9, 2020
Before the negative impact COVID-19 had on the economy this year, many Americans working in manufacturing plants saw their jobs disappear over the last few years. According to the Economic Policy Institute, nearly 1,800 factories shut down during the Trump administration between 2016-2018.
Remezcla
October 9, 2020