Recent research from the Economic Policy Institute suggests that online teaching and learning models can be effective “if students have consistent access to the Internet and computers and if teachers have received targeted training and supports for online instruction.”
CEO salaries grew 1,007.5% from 1978 to 2019, according to an Economic Policy Institute report. The average worker’s pay grew 11.9% during that same time. The public policy that allows this wage gap to widen can be changed, though, Baker says.
De acuerdo con el economista Daniel Pérez, del Economic Policy Institute, en entrevista con Univision, aseguró que si bien muchos latinos fueron beneficiados con los apoyos gubernamentales, la realidad dicta que esta comunidad está expuesta a salarios bajos, la discriminación laboral.
According to an analysis by the Economic Policy Institute of data from the US Bureau of Labor Statistics from 1948 to 2018, worker productivity has skyrocketed while worker compensation has stayed stagnant. The graph below shows just how wide that gap has gotten.
Over a roughly month-long span at the start of the pandemic, roughly 21.5 million Americans filed for unemployment benefits, according to an analysis at the time by the Economic Policy Institute (EPI). But researchers said the number should have been much higher, estimating that as many as 12 million people did not apply for jobless aid because they faced such difficulties in obtaining it. As a result, only half the Americans eligible to receive unemployment checks actually were able to cash them by the end of April, EPI estimated.
“We believe that the CBO’s assumptions on the scale of job loss are just wrong and inappropriately inflated relative to what cutting-edge economics literature would indicate,” wrote experts at the Economic Policy Institute. “The median employment effect of the minimum wage across studies of low-wage workers is essentially zero, according to a 2019 review of the evidence.”
Domestic employment has always been a poorly paid, unappreciated job—not to mention one that leaves individuals vulnerable to sexual, physical, and verbal abuse. Before COVID, the Economic Policy Institute reported, domestic workers earned an average of $12 an hour and were three times as likely to live below the poverty line than others who worked for an hourly wage. Most do not get benefits, like health insurance, and as they are paid in cash, do not have access to retirement savings.
The Economic Policy Institute estimates that wage theft costs workers — especially low-wage workers — roughly $50 billion a year. Companies commonly do this by adjusting time sheets or clocking out workers for breaks or lunch even if they don’t take them.
How did they do that? Dube notes that the latest report “UPweighted more negative studies,” despite, in at least one case, evidence having emerged since the negative study to call its results into question. Even a recent review of the available data by noted minimum wage increase opponents David Neumark and Peter Shirley “had a median estimate of -0.15 for directly affected workers, less than half the size of the CBO assumption,” the Economic Policy Institute’s Ben Zipperer pointed out.
This week, the CBO sided firmly with the naysayers—which one could tell easily enough by how quickly left-leaning economists flamed its results. “We believe that the CBO’s assumptions on the scale of job loss are just wrong and inappropriately inflated relative to what cutting-edge economics literature would indicate,” Heidi Shierholz of the labor-aligned Economic Policy Institute wrote in a Monday blog post that was typical of the blowback. Critics accused the CBO of, among other analytical sins, putting far too much weight on a 2018 paper that showed Seattle’s push for a $15 minimum wage had eliminated a significant number of jobs, even though a followup study by the same team later suggested the impact of the hike was fairly small.
“The damage that he was doing to workers’ rights under labor law is like nothing we’ve seen before,” said Lynn Rhinehart, a senior fellow at the left-leaning Economic Policy Institute.
Economists questioned how accurate the CBO’s estimates were, with Heidi Shierholz, director of policy for the left-leaning Economic Policy Institute, saying in a Twitter post that the CBO’s estimates were “really out there” and out of line with previous studies that showed job losses far lower than what the CBO predicted.
Still, a study by the Economic Policy Institute said raising the minimum wage would affect about 32 million workers — most of them essential workers. And about 60% of those affected by the higher wage would be women.
According to an analysis of the report by Elise Gould, senior economist at the Economic Policy Institute (EPI), the BLS Job Openings and Labor Turnover Survey (JOLTS) for December provides a “clear sign that recovery is not charging ahead.”
…
The phrase “little changed” is mentioned 17 times throughout the survey, Gould noted in a tweet, illuminating the point that that job market has seen weak recovery for millions of unemployed Americans.
“Along most of the [BLS] measures, we are not seeing improvements,” Gould told Newsweek. “Hopes for recovering, that’s not what’s happening now.”
A Feb. 2 report on Biden’s proposal by think tank Economic Policy Institute said that raising the minimum wage to $15 an hour would raise Federal Insurance Contributions Act taxes each year by $7 billion to $13.9 billion. Employees pay half of those taxes and employers pay the other half.
Left-leaning economists disputed the CBO’s findings. Ben Zipperer, of the Economic Policy Institute, said the CBO’s job-loss estimate is more than double the median found in a wide body of research.
The Economic Policy Institute, the labor-backed think tank, has studied the impact of raising the wage to $15 in every congressional district as a way of demonstrating the boon that it would mean for many workers. And the institute’s data indicates that many workers would benefit.
In his attempt to overcome the Byrd rule, Sanders has cited new studies from two sources with a history of highly partisan research in support of minimum-wage hikes. Authored by the Economic Policy Institute and Berkeley economist Michael Reich these studies claim that a $15 federal minimum wage would positively impact the federal budget by tens of billions of dollars per year through increased tax revenue and reduced costs for public-assistance programs. Reich claims hiking the minimum wage to $15 an hour by 2025 would positively impact the federal budget to the tune of $65.4 billion a year.
The left-leaning Economic Policy Institute took issue with the CBO’s projection of significant job loss, saying its own analysis has found the impact on employment to be negligible. “We believe that the CBO’s assumptions on the scale of job-loss are just wrong and inappropriately inflated relative to what cutting-edge economics literature would indicate,” EPI stated.
In a brief, researchers at the left-leaning Economic Policy Institute noted potential upsides for workers the CBO report highlights. They pointed out that the estimates show the policy would benefit 27 million workers and increase wages by $333 billion between 2021 and 2031, with much of the added income flowing to lower earners.
The $333 billion figure is based on estimates that the policy would result in $509 billion of higher hourly pay, which would be offset by $175 billion in wage losses due to fewer jobs.
EPI’s experts disagreed with CBO’s estimates on how the wage policy could hurt employment. “We believe that the CBO’s assumptions on the scale of job-loss are just wrong and inappropriately inflated relative to what cutting-edge economics literature would indicate,” they wrote.
Increasing minimum pay levels “would disproportionately raise the incomes of families at the bottom of the income distribution and would meaningfully reduce the number of families in poverty,” the Economic Policy Institute said in a recent paper.
Congress last passed a minimum-wage increase in 2007. The current federal minimum, $7.25 an hour, is about 29 percent below its 1968 peak when adjusted for inflation, according to the left-leaning Economic Policy Institute. David Cooper, an economic analyst at the institute, said 29 states and the District of Columbia have higher minimums, and seven states plus the District of Columbia were phasing in the $15-an-hour threshold.
Progressives see the wage increase as a central weapon for fighting poverty and inequality, while conservatives often warn it will reduce jobs.
The report in essence said both sides were right. It found a $15 minimum wage would offer raises to 27 million people and lift 900,000 people above the poverty line, but it would also cost 1.4 million jobs.
Mr. Cooper disputed the jobs forecast, arguing that it was out of line with recent studies that showed increases in the minimum wage had produced little or no effect on employment. “C.B.O. seems to be going in the opposite direction,” he said.
But I can hear you supply-siders out there asking whether that gain is offset by lower tax revenues from the wealthy. The short answer is “not really.” The CBO believes that, ultimately, the bill for a minimum wage hike would be paid by higher-income people. According to a blog post by several economists at the left-leaning Economic Policy Institute, income losses would be concentrated, under the CBO’s analysis, on families whose average income is $232,800 (actually a little bit more, because that’s in 2018 dollars).
Another study from the left-leaning Economic Policy Institute found the wage hike would reduce expenditures on public assistance programs by $13.4 billion to $31 billion and boost payroll tax revenue by $7 billion to $13.9 billion.
“The bottom line is that the CBO finds that the benefit to low-wage workers of raising the minimum wage far outweighs the cost,” said Heidi Shierholz, a senior economist and director of policy at EPI, on a Monday call with reporters.
Heidi Shierholz, director of policy for the labor-backed Economic Policy Institute, said the CBO’s estimates of job losses “are highly questionable” and gave too much weight to inferior studies used in its analysis. Those exaggerated claims of job losses, she said, in turn results in higher projected costs for the government.
And even if those costs are accepted, she said, the benefits would be “enormous” in terms of reducing poverty and inequality.
But proponents argue that better-quality studies tend to show that increases in the minimum wage do not hurt employment.
“We believe that the CBO’s assumptions on the scale of job loss are just wrong and inappropriately inflated relative to what cutting-edge economics literature would indicate,” said a team of experts from the left-leaning Economic Policy Institute.
The CBO did not properly weight the higher-quality studies in its analysis, said Heidi Shierholz, senior economist at the institute.
Some progressive economists were quick to say the report’s estimates on job losses were too high. The left-leaning Economic Policy Institute released an analysis of the report saying those assumptions “are just wrong and inappropriately inflated relative to what cutting-edge economics literature would indicate.”
