In addition, the Congressional Budget Office found that a continuation of the $600 weekly benefit would boost overall economic output in the second half of 2020. This would help offset the expected 4.6 percent decline in GDP in 2020. Furthermore, the Economic Policy Institute estimates that the spending boost would translate to 5.1 million jobs saved.
Forbes
July 14, 2020
In that time, at least 22 million Americans lost their jobs or left the workforce. The public health crisis also has stripped roughly 16 million workers and their families from employer-provided health plans, according to the Economic Policy Institute.
The Independent
July 14, 2020
The $600 weekly federal unemployment insurance benefits meant to stimulate the national economy during the COVID-19 pandemic expire on July 31. Unless Congress extends those payments, the state could lose a boost in jobs, personal incomes and gross domestic product (GDP) over the next year, according to research from the Washington, D.C.-based Economic Policy Institute (EPI).
Michigan Advance
July 14, 2020
An April 2020 overview of K-12 job losses notes that, more than 10 years after the Great Recession, employment in public schools hasn’t fully recovered from 2008’s Great Recession. The research further indicates that without support from the federal government, the revenue shortfalls related to the current crisis will be dramatically worse.
The Economic Policy Institute’s researchers, for instance, anticipate a “revenue shortfall of nearly $1 trillion by 2021.” According to the U.S. Bureau of Labor Statistics, by early April, just a few weeks after the federal government acknowledged the existence of the pandemic, the job losses in the education sector had already reached 468,000, more than the total number of K-12 job losses over the year-and-a-half of the Great Recession.
MultiBriefs
July 14, 2020
According to the think tank Economic Policy Institute, the average income of white households in 2018 was $70,642 compared to $41,692 for black households. In February, before the pandemic, the unemployment rate was 5.8% for black people against only 3.1% for white people.
The Africa Report
July 14, 2020
As the Economic Policy Institute writes, failing to extend federal UI programs now is not just “cruel but bad economics.”
The Progressive Pulse
July 14, 2020
Last week, United Airlines said it may be forced to furlough as many as 36,000 workers, or about 45 percent of its workforce. According to an estimate from the left-leaning think tank the Economic Policy Institute, up to 17.6 million Americans “probably won’t return” to their pre-crisis jobs.
Fox Business
July 14, 2020
Teachers now make 4.5 percent on average less than they did more than 10 years ago, according to the National Education Association, and public school teachers earn 17 percent less than what comparable workers earn, according to the Economic Policy Institute.
Inequality.org
July 14, 2020
Everyone has heard the first-hand accounts and read the news reports about spotty attendance during remote learning, said Emma Garcia, an economist at the Economic Policy Institute who studies education policy. But no one has a good systematic overview of what attendance patterns actually are, which complicates the role of researchers and policymakers in crafting responses to the pandemic. Data must ultimately inform efforts to direct resources and time to schools and districts needing it the most.
Education Week
July 14, 2020