Media clips
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— “Heading into the midterms, there’s still no evidence that the TCJA is working as promised,” from the Economic Policy Institute
Politico Pro November 6, 2018 -
These dire predictions were challenged by economist Robert E. Scott, director of trade and manufacturing policy research at the Economic Policy Institute, a union-backed think tank in Washington. He estimated this year’s tariffs’ rise has boosted the cost of imported steel and aluminum and $50 billion of Chinese goods by about $20 billion annually, or one-tenth of one percent of the gross domestic product, the sum of all goods and services produced in the United States. “It’s hard to see how that can slow down economic growth or affect inflation,” he said. Scott also called for reducing the U.S. dollar’s value by 30 percent because of persistent layoffs in the United States due to the trade deficit. He said the cheaper dollar would reduce the price of U.S. exports, thereby narrowing the imbalance, or deficit, between the amount of imported goods and U.S. exports.
Newsday November 5, 2018 -
In a recently released state-by-state review of unemployment rates by race and ethnicity for the third quarter of 2018, Janelle Jones, an analyst at the nonpartisan Economic Policy Institute, found that 12 states have a black unemployment rate that is at least twice as large as the white unemployment rate. What’s more, in each of the 21 states and the District of Columbia, for which figures were available, the black unemployment rate was higher in each of them than it was for white Americans. Jones’ findings further underscore the fact that even as the nation climbs back from its pre-recession unemployment level, the bounty isn’t filling the pocketbooks of black Americans. For instance, she found the nation’s highest black unemployment rate was in the District of Columbia at 12.4 percent, producing a 6.2-to-1 disparity with white workers in the Nation’s Capitol. Worse, the District has the dubious distinction of having the highest black unemployment rate during the previous eight quarters — this despite the fact that Washington, DC and its surroundings are the third-richest metropolitan area in the country and home to the most affluent population on the East Coast.
Think Progress November 2, 2018 -
The number of elderly SNAP beneficiaries is likely to increase in the coming years as baby boomers age and continue to face unique financial challenges. Rent has grown faster than wages over the past two years, according to numbers from the Labor Department released in July, and health-care premiums have risen from an average of $6,000 per year in 1999 to $18,000 in 2016, an Economic Policy Institute study found.
Market Watch November 2, 2018 -
Researchers with the Economic Policy Institute (EPI) found that between 2001 and 2017, the U.S.-China trade deficit has been responsible for the loss of 3.4 million American jobs. The vast majority of jobs lost from free trade with China has been in the U.S. manufacturing sector, making up 74.4 percent of all jobs lost and amounting to 2.5 million U.S. manufacturing jobs lost. This total of jobs lost also includes the 1.3 million American jobs lost since 2008. The EPI researchers note that the U.S.-China trade deficit has eliminated American jobs in all 50 states and in every single congressional district across the country. (whole story)
Breitbart November 1, 2018 -
New York is ranked third in manufacturing job losses, behind California and Texas, according to the report by the Economic Policy Institute.America’s trade deficit with China came to $375 billion last year. That wide imbalance occurred because US exports to China of $130 billion in 2017 were overshadowed by China’s $506 billion exports to the US, with $77 billion in computers and accessories and $70 billion in cell phones.
New York Post November 1, 2018 -
Latina workers earn about 54 cents for every dollar earned by white men. And so Nov. 1 will be the day when Latina pay through 2017 plus thus far into 2018 will catch up with what white men earned in 2017. “Put another way, a Latina would have to be in the workforce for 55 years to earn what a non-Hispanic white man would earn after 30 years in the workforce,” the Economic Policy Institute notes. “Unfortunately, Hispanic women are subject to a double pay gap – an ethic pay gap and a gender pay gap.” The double pay gap crosses occupations. For instance, white men make more than Latina workers whether they work in cleaning, or in software development. Education is not an equalizer, either. Even with advanced degrees, Latinas earn less than white men who only have a four-year degree. (chart included)
Nevada Current November 1, 2018 -
Leslie is joined by Scott Paul and Robert E. Scott to discuss a new EPI report entitled, “The China toll deepens: Growth in the bilateral trade deficit between 2001 and 2017 cost 3.4 million U.S. jobs, with losses in every state and congressional district.”
The Leslie Marshall Show November 1, 2018 -
China has taken advantage of these privileges to more than quadruple its share of world trade, creating great wealth in the Chinese economy and for a segment of Chinese society while causing economic damage in the United States and other nations. A recent report by the union-backed Economic Policy Institute estimated that China’s entry into the WTO cost 3.4 million American jobs, 74 percent of them in manufacturing.
November 1, 2018 -
“The tariffs are tactics in search of a strategy,” said Robert Scott, trade policy analyst for the liberal Economic Policy Institute. “They’re as likely to lead to what economists refer ‘trade diversion’ — diverting trade to some other country — as they are to lead to reduction in the amount of trade. Much more likely, in fact,” Scott said. “China maintains the advantage. They’re just shipping their products to the U.S. through some other port.”
The Washington Examiner November 1, 2018