According to Heidi Shierholz, the former chief economist at the U.S. Department of Labor and current director of policy at the Economic Policy Institute, if we succeed in restoring “a million jobs a month — which would be absolutely unheard of — it would still take almost two years to get back to where we were.”
CNBC
July 27, 2020
The prominent labor economist Lawrence Mischel has said deregulation was never meant to help truckers.
“This was a conscious decision to make the trucking industry a dog-eat-dog industry,” Mishel, a fellow at the Economic Policy Institute, previously told Business Insider. “The prices of trucking got cheaper, but the ability to make a living evaporated.”
Business Insider
July 27, 2020
“Each dollar of unemployment insurance boosts economy-wide spending by $2,” said Lily Roberts, director of economic mobility at the Center for American Progress. “The Economic Policy Institute estimates that letting the $600 unemployment insurance extension expire would by itself lead to more job loss than happened in the recessions of the early 1990s or early 2000s.”
CNET
July 27, 2020
According to a paper by the Economic Policy Institute (EPI), the teacher pay penalty – the percent by which public school educators are paid less than comparable workers – has reached an all-time high. When adjusting only for inflation, the researchers found that teachers, compared to other college graduates, are paid nearly $350 less per week in salary in 2017, or 23 percent less.
Bluefield Daily Telegraph
July 27, 2020
Without Congressional action – which did not seem imminent Friday – the end of the program known as Federal Pandemic Unemployment Compensation will cost the Georgia economy 186,000 jobs during the next year, according to an analysis by the Economic Policy Institute, a liberal think tank.
Atlanta Journal Constitution
July 27, 2020
Higher levels of education tend to lead to higher salaries. Plus, the more graduates earn, the more tax dollars they contribute over time, according to the Economic Policy Institute.
WTVQ (Kentucky)
July 27, 2020
Lapsing benefits will lead to “collapsing incomes” for tens of millions of U.S. families, according to Josh Bivens, director of research at the Economic Policy Institute, a left-leaning think tank.
Those who try to find a job may find it difficult in a labor market that remains “fundamentally damaged,” Bivens said.
Despite businesses adding about 7.5 million jobs in May and June, there are still 14 million more unemployed workers than there are job openings, according to the Economic Policy Institute.
CNBC
July 27, 2020
Republicans are proposing scaling back the $600 weekly federal boost to state unemployment benefits that Congress approved in March to an estimated $200 a week. But the move could shed 3.4 million jobs from the American economy, according to an estimate published Friday from the Economic Policy Institute, a left-leaning think-tank.
Business Insider
July 27, 2020
The left-leaning Economic Policy Institute, citing data from the Bureau of Economic Analysis, said in late June that the $600 federal benefit had boosted incomes by a total of $842 billion in May when expressed at an annualized rate. Additionally, the labor-funded think tank estimated that extending the $600 benefit through the middle of 2021 would lead to an average quarterly GDP boost of 3.7 percent.
Crain's Detroit Business
July 27, 2020
And in a third study, the Economic Policy Institute says that cutting off the $600 weekly payment would be devastating for families. The money accounted for 15% of total wages and salaries in May, compared to the previous high of 2.5% in 2010 during the Great Recession.
Ending the payments would also damage the broader economy because that cash is being spent and keeping other employees from being laid off, the report says. Extending the payments through mid-2021 would boost the GDP by 3.7% and support 5.1 million workers, according to the study.
In a new analysis, EPI says that reducing the extra benefit to $200, as Senate Republicans are proposing, would cost 3.4 million jobs over the next year, including 557,428 in California.
Sacramento News & Review
July 27, 2020