Media clips
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But the Trump administration is eliminating rules that federal agencies have shown help people and that companies have already spent money complying with, says Celine McNicholas, labor counsel at the Economic Policy Institute, a non-partisan think tank that represents low- and middle-income workers. “There has always been push-back” from any industry the government was trying to regulate, she said, but under the Trump administration, regulations themselves have “become a political weapon,” … The administration is cutting rules designed to make manual labor safer, while undercutting those aimed at increasing wages and benefits for the less wealthy. The Economic Policy Institute is closely tracking the impact of these changes.
Quartz September 22, 2017 -
These factors have undermined the influence employees have within their own companies. As a result, managers are more likely to reward themselves and their bosses—the shareholders—than the rank and file. A July report from the Economic Policy Institute found that the chief executive officers of America’s largest companies made an average of $15.6 million in compensation in 2016, or 271 times the annual average pay of ordinary workers. Although that gap has narrowed over the past few years, it’s still astronomically larger than the 20 times recorded in 1965. More broadly, studies have shown that the gains made in wages have often been skewed toward the top of the pay pyramid, which means those toiling at the bottom are even worse off than the general statistics show.
Bloomberg September 22, 2017 -
A former coalminer who becomes a successful developer deserves our respect and admiration. But the data suggests that relatively few will be able to follow their example. Our educational system has long been producing more programmers than the labor market can absorb. A study by the Economic Policy Institute found that the supply of American college graduates with computer science degrees is 50% greater than the number hired into the tech industry each year. For all the talk of a tech worker shortage, many qualified graduates simply can’t find jobs.
The Guardian September 22, 2017 -
What does the Federal Reserve’s balance sheet announcement mean for you? 3 key Fed meeting takeaways
Indeed, last week’s positive census report, which indicated rising wages, may have actually been a bit misleading, said Josh Bivens, an economist at the left-leaning Economic Policy Institute. “In my mind the strong earnings numbers we got from the Census Bureau, they fuzz up the picture,” Bivens said. “The inflation the Fed wants to avoid is the inflation is that happens when the economy is overheating, when workers really have the leverage and are demanding higher wages. We haven’t seen that dynamic in decades.” Falling or slowly rising prices in the short term is good for consumers, Bivens said, because if you’re spending less on gas or food, then that’s more money in your pocket. But in the longer term, prices rise when workers are earning the higher wages to support them, and that’s just not happening yet.
Mic September 21, 2017 -
Sherman points to research which shows workers in right-to-work states actually receive less pay. Studies have actually been fairly mixed when it comes to what impact right-to-work actually has on workers. The Economic Policy Institute found the policy results in decreased wages and benefits. The Heritage Foundation, however, found wages and benefits in right-to-work states aren’t actually less when you adjust for the cost of living.
Inside Sources September 21, 2017 -
Education is supposed to be the nation’s great socioeconomic leveler. That belief, however, is not borne out in the data. Pay gaps between white and black workers have grown since 1979, even after controlling for education, experience and location, according to research by the Economic Policy Institute. In fact, racial pay gaps have expanded the most for college graduates, which makes it seem clear that discrimination is a leading cause.
The New York Times September 20, 2017 -
More broadly, little progress in closing racial pay gaps has been made since 2000, according to Economic Policy Institute. Black-white wage gaps are wider today than they were in 1979, an EPI study showed last year.
CBS News September 20, 2017 -
The hike would raise wages for more than 1 million workers in Massachusetts, about a third of the state’s workforce, the majority of whom are adults working full time, according to the Economic Policy Institute. At the current rate of $11 an hour, a full-time minimum wage worker makes less than $23,000 a year. The bills are backed by more than 90 lawmakers, but if the legislature does not act, the wage increase would likely be put before voters next year, where it is widely expected to pass. Every time a minimum wage increase is on the ballot it passes, said David Cooper, an economic analyst at the Economic Policy Institute, who testified in favor of the boost to $15.
Boston Globe September 20, 2017 -
While the unemployment rate is down and job growth has been steady, nominal wage growth is at 2.5 percent year over year, preventing a “full recovery” from the Great Recession, according to the Economic Policy Institute, a nonprofit Washington, D.C., think tank. “As the unemployment rate comes down, you would expect to see stronger wage growth,” said Elise Gould, senior economist for the institute. What’s keeping wages down, Gould said, is “slack” in the labor market: people not actively looking for jobs but still interested in finding work. “Because of that, employers know that they don’t have to offer higher wages to attract or retain the workers they want,” Gould said.
The Chicago Tribune September 20, 2017 -
To be sure, these numbers need context. Wages and incomes fell so far during the Great Recession that median household income, as measured by the Census Bureau, is today still barely above the level it reached in 1999. Furthermore, in 2013 the Census Bureau changed its formula, introducing new methodology that has tended to raise reported incomes. When the Economic Policy Institute, a liberal think tank, reworked the Bureau’s numbers to make the methodology consistent over time, it found that median household income was still slightly below its 2007 level. Even allowing for these qualifications, though, there is no doubt that incomes have jumped quite a bit since the end of 2014—coinciding with a drop in the jobless rate, from 5.6 per cent to 4.4 per cent. “It is quite impressive, the income growth of the last two years,” Larry Mishel, the president of the Economic Policy Institute, told me on Monday. “It points to the need to operate at very low levels of unemployment.” (Larry quoted throughout)
The New Yorker September 19, 2017