Valerie Wilson, demographic economist at Economic Policy Institute, points to huge disparities in wealth. Since the early 1960s, median black wealth has climbed from $2,647 to $17,409 in 2016, while wealth among whites has climbed from $47,655 to $171,000 according to data analysis by EPI. “There’s not that store of wealth in terms of homeownership, savings, inheritance, or any of the kinds of assets that appreciate and grow in value,” she said. “The rising labor-force participation rate, assuming the majority that are participating are getting gainful employment, will increase wages, but that doesn’t translate as quickly into increased wealth.”
The Wall Street Journal
March 12, 2018
Last week, the Economic Policy Institute published a report, stating what many of us already know – that in the 50 years since the U.S. government took the decision to document segregation, poverty and racism in America, many of the problems identified half a century ago are still with us. Indeed, some have gotten worse.
The Huffington Post
March 12, 2018
A report released by the Economic Policy Institute shows that there has been no progress for African Americans in comparison to whites regarding employment, homeownership and incarceration since the release of the Kerner Commission in 1968. (whole story)
Axios
March 12, 2018
There’s been an outpouring of global disapproval of the tariffs on steel and aluminium imports announced by the White House. Rob speaks ~1:03 and 1:41
Al Jazeera English
March 12, 2018
Many economists and business owners question the Trump administration’s argument that foreign-made steel and aluminum — some of which goes into American-made cars, kitchen appliances and beer cans — is a risk to national security. “This would certainly push the limits on that,” says Robert Scott, a trade expert at the Economic Policy Institute. But Scott notes: “The WTO can’t really force you to change your trade policy.”
CNN Money
March 12, 2018
Guests: Heather Long, Edward Alden, Josh Bivens
WHYY
March 12, 2018
The AFL-CIO and its unions argued long and hard against the present 24-year-old NAFTA, pushed through by Democratic President Bill Clinton. They forecast, accurately, that it would cost U.S. jobs. The Economic Policy Institute puts the job losses at 700,000-1 million.
Press Associates Inc.
March 12, 2018
“Today’s job report shows the economy has built on the progress of the previous administration by adding almost as many jobs in 13 months as the number of jobs added in the last 13 months of the Obama administration. However, even though the economy is generating new jobs, workers are still struggling to find economic security. Compounding this instability is the Trump administration’s proposed rule that would allow employers to confiscate workers’ hard-earned tips. The Economic Policy Institute estimates that tipped workers could lose $5.8 billion dollars a year.
Rep. Bobby Scott
March 12, 2018
“We urge Congress to pass this important legislation,” said Celine McNicholas, Labor Counsel at the Economic Policy Institute. “The Department of Labor has proposed a rule that would abolish the current regulation that prohibits employers from taking workers’ tips. We estimate that if DOL finalizes its proposal, workers will lose $5.8 billion in tips every year as tips are shifted from workers to employers, and of the $5.8 billion, nearly 80 percent—$4.6 billion—would be taken from women who are working in tipped jobs.”
Patch.com
March 12, 2018
The industry has long complained that it’s been undermined by overproduction of steel in China, which the Commerce Department says is “by far” the largest contributor toward 700 million tons of excess steel capacity worldwide. While China represents only a small fraction of steel imports to America, critics say it and other countries distort the global market by subsidizing cheap steel in order to build up their industry at home and muscle out rivals abroad. “We put those duties in place and we can help industries recover,” Robert Scott, an economist at the Economic Policy Institute who is broadly supportive of the tariffs, told NBC News. “It leads to more investment, it leads to increasing employment.”
NBC News
March 8, 2018