Meanwhile, even many families with savings don’t have enough money to provide real security during the pandemic. The median savings account balance for families headed by an individual between 56 and 61 years old is just $21,000, according to the Economic Policy Institute. That balance is even lower among younger families.
The Wall Street Journal
August 21, 2020
Heidi Shierholz, senior economist and policy director with the Economic Policy Institute, a liberal-leaning think tank, said she considers the extra $300 a distraction and a poor substitute for a more comprehensive solution. Unlike the extra $600 in weekly benefits, it is unclear how many states or how many unemployed people will receive the lesser amount, she said.
“People are going to have to cut back,” Shierholz said. “People’s living standards will drop. Evictions will happen. Hunger will happen. This will create a lot of deeply unnecessary suffering.”
The Baltimore Sun
August 20, 2020
While these graphs may imply that those in the top quintiles disproportionately benefit from the new Department of Labor Guidance on 401(k) PE access, it’s important to remember that many in the top quintile already have access to private equity since they qualify as “accredited investors.” To be an accredited investor, one must either have net assets of at least $2.5 million, or a gross income for each of the last two financial years of at least $250,000. According to the Economic Policy Institute using data from the Social Security Administration, the top 5 percent of earners make $309,348 annually as of 2018.
The National Review
August 20, 2020
Average CEO compensation at the top 350 U.S. firms grew 14% to $21.3 million on average, according to an analysis from the Economic Policy Institute (EPI), a think tank based in Washington, D.C.
Industry Week
August 20, 2020
In 2018, a median Hispanic household earned 73 cents for every dollar a median white household earned, according to the Economic Policy Institute. A median Black household earned just 59 cents for every dollar a median white household earned.
KSAT-San Antonio
August 20, 2020
The pay gap between top corporate executives and workers is staggering – in 2019, CEO realized pay increased 14% from 2018 to an average of $21.3 million, a new study by the Economic Policy Institute (EPI) shows.
CNBC
August 20, 2020
These statistics started being discussed in class without any regard for Black students. Often, when Black issues are brought up, teachers forget that Black students are living the reality they are debating. It was never brought up that Black and Brown people make up the majority of the nation’s essential workers — from food and agriculture to commercial and service industries, according to the Economic Policy Institute. This makes them extremely susceptible to COVID-19. In predominantly white schools, Black and brown people are put in a box for white students to pity without giving context to why they are in the box in the first place.
YR Media
August 20, 2020
DON’T FORGET TO JOIN ME THURSDAY — I’ll be hosting a virtual Democratic Convention briefing on Thursday at 1:00 p.m. on what a Biden administration would do with the economy featuring Jared Bernstein, who served as chief economic adviser to Biden in the White House; Rep. Don Beyer (D-Va.), Vice Chair of the Joint Economic Committee; and Heidi Shierholz, senior economist at the Economic Policy Institute and former chief Department of Labor economist under Obama. RSVP here.
Politico
August 20, 2020
CEOs at the top 350 firms in the US were paid $21.3 million on average last year, a 14% increase over the year before, as top executives continue to see their compensation skyrocket, according to a report out Tuesday by the left-leaning Economic Policy Institute.
Fox Business
August 20, 2020
EPI reports that CEO earnings soared in 2019 and, despite the coronavirus recession, are poised to rise again in 2020 as millions of workers are laid off or had hours and pay cut.
Teamsters
August 20, 2020