Media clips

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• How to fix the retirement system

  And the people who benefit from 401(k)s most are those who are shielding assets from taxation, said Dan Doonan, head of the National Institute on Retirement Security. Despite limits on contributions, 401(k)s and similar accounts actually increase wealth disparities, the Economic Policy Institute found. “We give the biggest benefit to people who need it the least,” said Monique Morrissey of EPI.

  The Washington Post May 5, 2020
• A Cinco De Mayo virtual concert to aid farmworkers has a star-studded Latino lineup

  The Economic Policy Institute, a think tank dedicated to promoting the interests of workers in economic policy debates, recommends that farm employers “provide adequate safety equipment” such as masks and gloves as well as “ways to disinfect their hands, tools, clothing and machinery.”

  CNBC May 5, 2020
• OPINION: Workers Memorial Day highlights Secretary of Labor Scalia’s failure to protect workers during the coronavirus crisis

  Workers Memorial Day on April 28, was a day observed around the world to remember those workers killed or injured on the job and to fight for strong safety and health protections for all workers. This fight has never been more critical. The COVID-19 pandemic has revealed a reality many workers have long confronted — workers are routinely forced to work in unsafe conditions, risking their health and safety for a job.

  St. Louis/Southern Illinois Labor Tribune May 5, 2020
• What happens to your health insurance if you lose your job?

  More than 50 percent of Americans get their health insurance through their employer, and with some experts warning that unemployment could peak at 47 million, millions of Americans could lose their coverage as a result of the virus outbreak. A recent analysis by the left-leaning Economic Policy Institute forecast that 3.5 million workers lost their insurance in just the last two weeks of March.

  Fox Business May 5, 2020
• The catastrophic unemployment crisis

  The COVID-19 crisis has led to mass layoffs, putting millions out of work in a country where roughly 80 percent of workers lived paycheck to paycheck even prior to the pandemic. As of May 1, 30 million unemployment claims had been filed, yet the real number of unemployed is likely to be twice that according to a study by the Economic Policy Institute.

  Mundo Obrero Workers World May 5, 2020
• New jobless claims fall, but unemployment rolls keep growing

  “It’s starting to seem like the new normal,” said Julia Wolfe, an analyst at the Economic Policy Institute. “But I think it’s important to ground ourselves in that this is still a huge shock to a lot of workers and their families and also represents a huge strain on the unemployment insurance system.”

  “We are still seeing huge amounts of people continuing to be laid off,” Wolfe said. “It’s not like we’ve plateaued or leveled out and no more workers are being laid off, they’re just continuing their laid-off status.”

  But as initial claims decline, the number of people continuing to get unemployment assistance will rise or stay steady until the economy can recover, Wolfe said.

  “As we see these initial claims, they’re going to be turning into continued claims and very few of those continued claims are going to drop off, because if you’re a restaurant worker who is laid off from your job you can’t go to another restaurant because they’re closed as well,” she said.

  AZ Big Media May 5, 2020
• Nebraska official apologizes as jobless workers still awaiting checks feel frustrated, forgotten

  A survey by the Economic Policy Institute, a Washington, D.C., think tank, examined the problem. It found that for every 10 people who were able to successfully claim unemployment benefits, three or four others tried but were frustrated by the system and two others did not try because they found the system too difficult.

  Kearney Hub May 5, 2020
• NEARLY 8 IN 10 AMERICANS SUPPORT EXPANDING MEDICAID SO LOW- AND MODERATE-INCOME AMERICANS HAVE HEALTH CARE COVERAGE: POLL

  The Economic Policy Institute (EPI), a nonpartisan think tank based in Washington, D.C., has estimated that about 12.7 million Americans have likely lost their health insurance since the pandemic began.

  “Because the United States is unique among rich countries in tying health insurance benefits to employment, many of the newly unemployed will suddenly face prohibitively costly insurance options. A comprehensive policy solution would be to extend Medicare and Medicaid to all those suffering job losses during the pandemic period, with the federal government funding this expansion,” EPI economists Josh Bivens and Ben Zipperer wrote in an April 30 blog post.

  Newsweek May 5, 2020
• Millions of baby boomers are getting caught in the country’s broken retirement system

  None of these stories is an outlier. Half of American families in the 56-to-61 age bracket had less than $21,000 in retirement savings in 2016, according to a longitudinal study by the Economic Policy Institute that used the most recent available figures. A less formal survey last year found that little had changed. Forty percent of Americans over the age of 60 who are no longer working full-time rely solely on Social Security for their income — the median annual benefit is about $17,000.

  “We’ve probably peaked in terms of retirement security — and it’s not great,” said Monique Morrisey, of the Economic Policy Institute. “And now it’s all downhill. Unless something changes, we’re going to start seeing much more hardship.”

  Thirty million Americans have applied for unemployment benefits since the pandemic struck. But for laid-off workers in their 50s and 60s — and 70s — finding employment again will be tough.

  “How many older workers are going to permanently lose their jobs and retire earlier than they planned?” Morrisey asked. The ranks of those drawing down what savings they now have are certain to grow.

  The Washington Post May 5, 2020
• Millions Of Americans Are Working From Home During The COVID-19 Crisis

  MONDAY  on “The Source” — The pandemic has upended most all aspects of daily life, including a major shift in where and how work gets done for millions of U.S. employees. While there are perks (no morning commute!), working from home also comes with its own set of unique challenges.

  How important is face-to-face contact with coworkers and clients, and can it be replaced by technology? What could this crisis mean for the future of work in certain industries?

  Guests:

  • Sara Perry, Ph.D., assistant professor of management at Baylor University
  • Lindsey Pollak, multigenerational work expert
  • Elise Gould, senior economist with the Economic Policy Institute
  • Bret Piatt, CEO of Jungle Disk and host of the “CyberTalkRadio” podcast
  Texas Public Radio May 5, 2020