Elise Gould, senior economist at the Economic Policy Institute (EPI), says that while college graduates of recent years were seeing an improvement in the job market, their economic outlook had never fully recovered to a level that previous generations enjoyed.
“That benchmark of getting back to 2007 was actually a low bar for where we wanted to get back to,” Gould said. “I think we’re still a ways away from trying to get back to the kind of economy we had in 2000, and that should be the target in this recovery.”
National Association of Student Financial Aid Administrators
April 27, 2020
“All else equal, job losses of this magnitude would translate into an unemployment rate of 18.3%”, Heidi Shierholz, senior economist at the Economic Policy Institute, wrote in a note Thursday.
Newburgh Gazette
April 27, 2020
The longer the pandemic goes on, the higher into the income ladder the virus will creep, Bustelle said. More than 26 million Americans have sought unemployment benefits, according to the federal government. The Economic Policy Institute estimated earlier this month that 10 million people have lost their employer-based health insurance in the middle of a global health pandemic due to layoffs.
Cleveland.com
April 27, 2020
Local labor experts, meanwhile, say many current mid-Hudson openings pay less than $20 an hour (often just $12 to $16), well below the $44,000 to $59,000 annually that the Economic Policy Institute estimates a typical Hudson Valley resident needs to survive.
Times Herald-Record
April 27, 2020
Jaimie Worker, senior state policy coordinator for the Washington, D.C.-based, left-leaning Economic Policy Institute, suggested more federal relief — not reopening businesses — is what people need to stay safe and financially secure right now.
“Without a vaccine or effective coronavirus treatment, reopening should continue to be gradual and only occur when the rate of new infections has slowed, hospital capacity is sufficient, when effective testing is in place and when we’re able to effectively trace and quarantine those who are infected or even potentially infected,” she said.
The Tennessean
April 27, 2020
As nonessential businesses shuttered to observe stay-at-home orders and Centers for Disease Control guidelines, millions of Americans have lost their jobs. In Missouri, more than 252,000 people filed new unemployment claims in the first three weeks of April. And according to estimates released on Thursday by the Economic Policy Institute, job losses of this magnitude would translate into an unemployment rate of 18 percent – higher than at any point since the Great Depression.
The Examiner
April 27, 2020
According to the Economic Policy Institute think tank, about half of states have passed “pre-emption laws” that forbid municipalities from passing their own PSL laws. This means that in places like Louisiana and Georgia that have no state-wide PSL laws, localities can’t pass their own. National COSH blames the NRA’s lobbying for this and other efforts to undermine the passage of these kinds of pro-labor laws.
Forbes
April 27, 2020
The gap is further exemplified by worker demographics — around 16% of Hispanic workers and less than 20% of black workers are able to work from home, according to the Economic Policy Institute. Asian-American workers are most likely to have the ability to work from home, followed by non-Hispanic and white workers, the Economic Policy Institute reported.
Overall, less than 30% of American workers have the option to work from home, according to the Economic Policy Institute. School closures are adding to the burden: Workers are being forced to choose between taking care of their kids and working, according to Johns Hopkins University.
Lexington Herald-Leader
April 27, 2020
Projections vary on the future of leisure and hospitality employment in Santa Barbara County. The country has already surpassed the 19.8 million job loss the Economic Policy Institute predicted would occur by June, according to Rupert. That would translate to about 165,000 jobs lost in California’s leisure and hospitality sector, 11,000 of which would come from Santa Barbara County. Taking the Federal Reserve Bank of St. Louis’s projection of 47 million jobs lost across the nation by June, that would translate to about 392,000 hospitality and leisure jobs lost in California, 26,000 from Santa Barbara County.
Edhat Santa Barbara
April 27, 2020