“It’s important to note that Black, Latinx, Native American and low-income workers generally are the least likely to have been in that third category of those able to work safely at home,” David Cooper, a director at the liberal Economic Policy Institute, said.
Financial regulators are treading into matters related to environmental, social and governance (ESG), issues at an unprecedented pace, proposing rules and undertaking other initiatives that could ultimately play a role in addressing the nation’s income inequality crisis. The CEO–worker gap has exploded in the last four decades: While CEO compensation has grown 1,322% since 1978, the average U.S. worker’s compensation has risen just 18%, according to the Economic Policy Institute.
Second, it is dramatically increasing support for working families through the Wisconsin SHARES program from 35 to 80 percent of the cost of care. The average cost for infant care in Wisconsin is $12,597, according to the Economic Policy Institute so for an eligible family with one child they would see a savings of $5,669 per year.
Indeed, because of the obsession with not increasing deficits, the entire spending program will be mostly paid for by taxes. That means little net macroeconomic stimulus, though the improvements to productivity should be good for noninflationary growth. As Josh Bivens of the Economic Policy Institute explains, CBO’s analysis indicates there is still plenty of slack in the economy for noninflationary expansion.
Economic self-sufficiency is the ability to reliably meet basic needs, including food, housing, transportation, child care, medical expenses and other necessities. The Economic Policy Institute, a nonpartisan think tank, provides a Family Budget Calculator that calculates measures of economic self-sufficiency across the country.
Democrats are quick to note that Hawley, for all his expressed concern about opportunities for working-class men, opposes the Biden economic agenda (both the bipartisan infrastructure bill and the broader reconciliation package), even though the plan targets many of its new benefits toward blue-collar families and would create millions of jobs in construction, manufacturing, and caregiving that do not require a college degree, according to analysis by the liberal Economic Policy Institute.
Hamblin’s experiences are not exclusive to her. Activists and moms told USA TODAY there is a glaring hole in the nation’s laws that ensure accommodations and accessibility for mothers to pump breast milk for their infants while at work. Nearly 9 million people aren’t covered by the current federal law, according to estimates from the Economic Policy Institute.
Josh Bivens, director of research at the Economic Policy Institute, says workers currently have unique power to ask for more.“Normally, it takes some time for higher inflation to really start to pull up wages in its wake as workers bargain with the higher inflation in mind,” he says. “I think now we’ve got a strange situation where inflation is spiked, people really have it on their mind and there are really big pockets of labor market tightness in the economy, like in leisure and hospitality.”
“According to the Economic Policy Institute, the Build Back Better Act’s macroeconomic boost looks more valuable by the day, said that on November 3, 2021. Their analysis shows the U.S. economy is not overheating due to too much fiscal relief and recovery provided earlier this year, expert after expert after expert says that. Did we have pent-up demand? We did.
The result is what economist Josh Bivens of the labor-oriented Economic Policy Institute calls the “unwarranted leap” of attributing the recent price spikes to “‘too much’ fiscal relief and recovery.” There’s no evidence that merely providing more assistance to ordinary households caused inflation and therefore should be abandoned.
“I would expect over the next year the price inflation to relent a bit, and most of the wage growth to stay — and so I think they’re going to come out ahead,” said Josh Bivens, the director of research at the left-leaning Economic Policy Institute. “But yeah, this inflationary spike has definitely bit into the growth of paychecks.”
“Workers have employers over a barrel for a little while,” Josh Bivens, director of research at the Economic Policy Institute, told her. “I don’t think it’s going to last all that long. But for now, I think workers see the higher inflation, they see employers in some sectors are pretty desperate to attract workers, and they think ‘I’m gonna go for it.’”
Caroline Hyde, Romaine Bostick & Taylor Riggs bring the news and analysis you may have missed after the closing bell on Wall Street. Today’s show tackles the jobs report Guests Today: Elise Gould of Economic Policy Institute, Christian Smalls of the Amazon Labor Union.
As a result, some reliable indicators of the economy have become less reliable. Yes, there has been a solid recovery in hiring yet so many people have stopped working or seeking jobs that the adjusted unemployment rate is closer to 7.3%, instead of 4.6%, said Heidi Shierholz, president of the liberal Economic Policy Institute and a former chief economist at the Labor Department.
Josh Bivens, an economist at the left-leaning Economic Policy Institute, said he thinks inflation would be lower today if the most recent coronavirus relief bill hadn’t passed. “But I also think we’d have created far fewer jobs over the past year, and people’s wages would be lower — their incomes would be lower.” Bivens added that the generous relief package gave workers the financial cushion and leverage to negotiate higher earnings or switch to better jobs, setting the stage for a massive reassessment of work in America.
The left-leaning Economic Policy Institute also criticized the study, suggesting that the data and methodology couldn’t distinguish between the effects of wage increases and other factors. It called the estimated job loss “implausibly large and well outside the range of existing research on the minimum wage.”
While business owners have been a strong focus in discussions of equity, workers can’t be left out, advocates say.
“In the most recent federal proposals, every single one of them has this explicit and worthwhile focus on equity for entrepreneurs and giving formerly incarcerated folks privileged access…to get into the business but no one has really said anything about standards to ensure cannabis jobs are good jobs,” says David Cooper, senior economic analyst at the think tank Economic Policy Institute.
That’s a problem because “the vast majority of people that are going to interact with this industry in terms of their career are going to be folks working rank-and-file,” Cooper says.
Cooper co-authored a report published in September exploring the importance of protecting job quality and workers’ collective bargaining rights in cannabis.
Unionized workers during the pandemic have been able to secure enhanced safety measures, premium pay, and a say in the terms of any future furloughs or workshare arrangements, according to a report published last year by the Economic Policy Institute.
Workers covered by a union contract also earn on average 11.2 percent more in wages than their non-unionized peers in the same industry and with similar education and experience, the report found.
“Health and safety concerns are still number one on people’s minds,” Elise Gould, senior economist at the Economic Policy Institute, told Yahoo Money. “More and more jobs are requiring showing up in person. That is still a major concern for many people who may live with vulnerable family members or have concerns about their own health.”
Pelosi ought to be organizing economic history seminars for her caucus with people like Cecilia Rouse, Heather Boushey, and Jared Bernstein of the Council of Economic Advisers, and outside experts like Damon Silvers of the AFL-CIO and Heidi Shierholz of the Economic Policy Institute, and a whole bunch of people who can make sure that House Democrats know this history.
“With these welcome gains on top of significant improvements early in the summer, the recovery appears to be getting back on track,” said Elise Gould, a senior economist at the Economic Policy Institute. “That said, significant job shortfalls remain, especially in leisure and hospitality as well as both private and public sector education employment.”
The Illinois Economic Policy Institute’s report, which comes just days after the passage of a $1 trillion bipartisan infrastructure bill, detailed I-290’s current infrastructure needs and examined the safety concerns, congestion problems and economic impact project.