The Economic Policy Institute, a left-leaning think tank, conducted a separate analysis in February showing how the Ohio Valley region would be affected by a $15 minimum wage by 2024. The policy group’s research shows across the nation about 40 million workers would see an increase in pay, and parts of the Ohio Valley would see some of the most pronounced effects in the country.
The Economic Policy Institute report is based on data from the American Community Survey. The states are broken up into Congressional districts where people live and not necessarily where they work. EPI said the CBO’s report overestimates the number of job losses that would come from raising the minimum wage.
WOUB Public Media
July 12, 2019
The CBO is far from the only group weighing in on the issue. The left-leaning Economic Policy Institute, a nonprofit, Washington, D.C.-based think tank, has estimated a boost to $15 would lift pay for around 40 million workers. CBO’s report shows that as many as 3.7 million workers could lose their jobs if the wage was $15, but EPI said the move would still be a net positive.
“More and more, economists are recognizing that simple, dated models of the economy that always predict job loss when the minimum wage is increased are based on assumptions that have little bearing on the low-wage labor market,” EPI said in a statement in the Yahoo Finance story.
Daily Jefferson County Union
July 12, 2019
Plus, as the Economic Policy Institute explains, with substantial turnover in the low-wage job market, most of those 1.3 million would cycle through to find other jobs, which by definition would pay more than they would without a higher minimum wage. If someone making $7.25 an hour, the current minimum, can only find a job half as much of the time at $15 an hour, they still come out ahead.
Nation of Change
July 12, 2019
The progressive think tank Economic Policy Institute (EPI) addressed the CBO’s findings on job losses due to minimum wage increases, with EPI senior economist and director of policy Heidi Sheirholz writing that policymakers “must be skeptical” in their assessment of the study, because the CBO “failed to appropriately weight the highest quality studies in the vast academic literature on this issue.”
HR Dive
July 12, 2019
Former U.S. Labor Department chief economist Heidi Shierholz, now a senior economist with the Economic Policy Institute, said the move would raise wages for 27 million low-wage workers, and would increase those workers’ family incomes by $22 billion annually.
Public News Service
July 12, 2019
Earlier this year, Elise Gould, a senior economist with the non-partisan Economic Policy Institute, testified to the House Ways and Means Committee that “the top 1 percent of household income has grown 229 percent since 1979, far in excess of the slower 46 percent growth—just 1.0 percent annualized growth—for the bottom 90 percent of households.”
Voice of America
July 12, 2019
The Economic Policy Institute looked at state and national income averages and places Texas 11 on the list, considerably behind the big top 3 – New York, Connecticut and Florida. “In the state of Texas you need an annual income of just over $440,000 a year, and relative to the nation that’s about $20,000 more than the national average,” says Mark Price, one of the authors of their study The New Gilded Age: Income Inequality in the U.S. by State, Metropolitan Area, and County.
740 KTRH
July 12, 2019
The Economic Policy Institute’s 2019 Family Budget Calculator looks into that and more.
For one person and no children, it is estimating it’s about $3,000 and $36,000 to make ends meet.
FOX 26 News
July 12, 2019
The resulting collapse of the nation’s health insurance markets would also drag Virginia’s economy down. Analysts at the Economic Policy Institute estimate that 10,000 Virginians would lose their jobs in the first two years after the court’s decision, and the state would lose more than $1.6 billion in federal health care dollars. If you think rural hospitals are struggling today, just wait until scores of their patients are suddenly unemployed and uninsured, and federal funding evaporates.
Virginia Mercury
July 12, 2019
However, consumer advocates say the outcomes of arbitration are even grimmer. Just 9% of people who bring such claims walk away with relief, according to the left-leaning Economic Policy Institute.
CNBC
July 12, 2019