Parents know childcare is expensive, and there are new numbers that really drive that point home.
The “Economic Policy Institute” found the average annual cost of infant care in Connecticut is $15,500.
That breaks down to $1,292 per month.
Connecticut is ranked as the fifth most expensive state for childcare.
WFSB
July 31, 2019
Parents say childcare in California is expensive, and now there is a new study by the Economic Policy Institute that indicates they are right.
The report’s authors make several claims about childcare cost in California:
- The average annual cost of infant care in California is $16,945 or $1,412 per month.
- Child care for a 4-year-old costs $11,475, or $956 each month.
- California is ranked 3rd out of 50 states and the District of Columbia for most expensive infant care.
- Infant care for one child would take up 24.9% of a median family’s income in California.
KFBK
July 31, 2019
A new report out this morning from the Economic Policy Institute reveals a “desperately” needed “major overhaul” to California’s early care and education system.
State and federal funding, the institute’s researchers wrote, fall short of providing California kids and their families with a quality and affordable childcare option.
Sacramento Bee
July 31, 2019
CNN Business
July 31, 2019
Iowa remains well off the pace of job growth needed for full recovery from the last recession, which ended in June 2009. Analysis by the Economic Policy Institute shows Iowa needed a net increase of 108,000 jobs since December 2007, the start of that recession, to keep up with the population growth of 7.1 percent since that time. Jobs have grown only by 69,600, leaving a job deficit of 38,400.
PublicNow
July 30, 2019
These days, the divorce might be more common than the pension. According to a 2002 report from the Centers for Disease Control and Prevention, the probability of a marriage ending in the first 5 years is 20%, and 33% of marriages end within 10 years. Meanwhile, only 18% of private sector workers have a pension, compared to 35% in the 1990s, information from the Economic Policy Institute shows.
Smart Asset Blog
July 30, 2019
Today, there are only a few jobs that still come with pensions. However, according to USA Today, “retirement has taken a back seat to corporate profitability for more than 40 years as the United States has embraced the reduction of pensions.” A report by the Economic Policy Institute concludes that the switch from pensions to self-directed 401k-style accounts, which started around 1980, has been disastrous for the American worker.
GoBankingRates
July 30, 2019
Larry Mishel, a labor economist at the Economic Policy Institute, thinks the McKinsey report exaggerates the effects of automation, and said the U.S. is actually experiencing a very slow adoption of automation technologies.
“I believe we’re in a very slow wave of automation,” he told InsideSources. “We’re seeing a very slow growth in capitol investment, in information equipment investment, in software investment, and we some of the slowest growth of those things compared to the entire post-WWII period. If you believe automation is happening, you’d imagine it’s accompanied by more software and more computers, but we’re not getting that. The other major indicator is, in every decade there are some occupations that are growing and some that are declining. In the years since 2000, we’ve seen the slowest change of the occupation mix in maybe 150 years.”
InsideSources
July 30, 2019
The Economic Policy Institute found that, on average, college graduates earned 56 percent more than high school graduates in 2015. That was up from 51 percent in 1999 and is the largest such gap in EPI’s figures dating to 1973. EPI data found that since the Great Recession ended in 2009, college-educated workers have captured most of the new jobs, and enjoyed pay gains while non-college grads have faced dwindling job opportunities and an overall 3 percent decline in income.
Tahlequah Daily Press
July 30, 2019
Cities want to attract highly educated workers to fuel their economic growth and tax revenues. Higher levels of education tend to lead to higher salaries. And the more that graduates earn, the more tax dollars they contribute over time, according to the Economic Policy Institute.
WalletHub
July 30, 2019