Media clips
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Minnesota and Wisconsin have a lot in common in terms of geography, size and culture. But over the past seven years, they’ve taken drastically different political paths. A new report by the pro-labor Economic Policy Institute says Minnesota’s economic growth has far outpaced Wisconsin’s. Report author and EPI senior economic analyst David Cooper says the two states were fairly similar in politics and economics, until the last recession. Since then, Minnesota’s state government has raised taxes on the wealthy to finance investments, raised the minimum wage and accepted the Medicaid expansion. Cooper describes Wisconsin’s more conservative approach as, “Cutting taxes, weakening labor standards, not accepting the Medicaid expansion, rejecting federal funding for public investment.” Cooper says it’s possible to look at other states that have adopted similar conservative policies and have experienced similar weak growth, but there aren’t other comparisons like Wisconsin and Minnesota in which historically, the two had been so similar. (whole story)
WXPR May 15, 2018 -
The massive changes and resulting problems aren’t just the hallucinations of my bleeding heart, either. The Economic Policy Institute recently released an exhaustive study and comparison of Wisconsin’s and Minnesota’s economies, with a specific eye on working families. It’s not pretty. In Wisconsin, we’ve had seven years of conservative Republican policy initiatives, with a focus on cutting taxes, shrinking government, and weakening labor unions. On the other side of the Mississippi, Gov. Mark Dayton and the Democrats have worked on raising the minimum wage, strengthening safety net programs and labor standards, and increasing public investment in infrastructure and education — financed largely through higher taxes on the wealthy. The differences in outcomes have been stark: Minnesota has seen stronger job growth, faster wage growth, a shrinking gender wage gap, increased median household income, reductions in poverty, increased access to health insurance and stronger overall economic growth.
The Milwaukee Journal Sentinel May 15, 2018 -
Way back in early 2015, I suggested that a great way to demonstrate the outcomes of Republican vs Democratic policies is to compare what has happened in Wisconsin and Minnesota since 2010. The Economic Policy Institutejust updated the numbers. (includes experts of paper)
Washington Monthly May 15, 2018 -
Wisconsin and Minnesota are neighbors, but they’ve followed very different paths in recent years. In 2010, as Wisconsin notoriously elected Republican Gov. Scott Walker, Minnesota elected Democratic Gov. Mark Dayton. While Walker immediately began waging war on his state’s workers, Minnesota increased its minimum wage and taxed the wealthy to invest in infrastructure and education, among other worker-friendly moves. The two states’ economies have also gone in different directions, a new analysis from the Economic Policy Institute shows. Overall: (whole story)
Daily Kos May 14, 2018 -
This has long been bad news politically for Democrats in the white working-class regions that have been at the center of political discussion since the election, and bad news for those workers themselves economically—declining union membership is widely considered one of the culprits behind middle- and lower-class wage stagnation. According to a 2016 paper from the Economic Policy Institute, wages for nonunion men working in the private sector without high school diplomas would be 5 percent higher if union membership were at 1979 levels. They would be 8 percent higher specifically for men without a college degree.
Slate May 14, 2018 -
Certain college graduates from the Class of 2018 will start out their careers behind some of their friends, due to circumstances beyond their control. On average, black college graduates between the ages of 21 and 24 earn $3.34 less per hour than their white counterparts, a difference of about $7,000 per year, according to an analysis published this week by the Economic Policy Institute, a left-leaning think tank. And though not quite as steep, the gulf between the wages of female and male young college graduates stands at a still large $3.15 per hour, EPI found.
Market Watch May 14, 2018 -
It’s been a slow climb, but after a decade of steady recovery, young graduates’ economic prospects overall are the brightest since 2007. Wages have been rising since 2012, and recently surpassed the benchmark set in 2000. According to the Economic Policy Institute, challenges still remain. Remember that the economy at the beginning of the recession was in freefall, and nothing compared to more prosperous times in the ’90s and early 2000s. Elevated levels of underemployment remain. That is a count of those who are unemployed as well as part-timers who want full-time work, and even those workers who want a job and have looked for work in the last year, but stopped looking for work in the last month. This rate among new college grads is 11.1% this year, as compared with 9.4% in 2007 and 6.9% in 2000.
Fast Company May 14, 2018 -
Report: Class of 2018 Has Better Job Prospects than Classes of 2009-2017, but Still Faces Challenges
With graduation looming, some soon-to-be college graduates are still looking for jobs. A new report might give them a better idea of where they stand—and can provide guidance for colleges trying to support them. The report, published by the Economic Policy Institute, examines the job outcomes for those between the ages of 21 and 24 with a bachelor’s degree. It found that those in the Class of 2018 have better job prospects than the classes of 2009-2017. However, in comparison to students who graduated into the 2000 job market, the Class of 2018 still has economic challenges. Among those challenges? Racial disparity for wages. (whole story)
EdSurge May 14, 2018 -
According to an Economic Policy Institute Report, the unemployment rate for recent graduates is currently 5.3%, which is lower than pre-recession levels. Many students tell us they might not have a job yet, but they have a plan.
WHP-TV May 14, 2018 -
Is it worse to suddenly lose your financial nest egg or never to have saved any money at all? This question concerns many of us: A quarter of Americans watched much or all of their life savings evaporate during the last recession, while nearly half of U.S. families have nothing put aside for retirement, according to the Economic Policy Institute and federal data.
The Wall Street Journal May 14, 2018