To Heidi Shierholz, president of the Economic Policy Institute, this jump indicates the distortion and volatility in month-to-month data, especially considering that the jobless rate for Black men dropped to 5.1% in September from 5.9% in August.
“I think that the big increase that we saw in Black male unemployment in October was really just renormalizing after the big, unusual drop in September,” she told CNBC.
Shierholz added that October’s unemployment numbers were also unusually affected by the hurricanes and labor strikes, making it even more difficult to compare these data points.
“You never want to focus on one month’s data, and that is more true than ever right now because this month’s data was so distorted by these unusual temporary factors,” she said.
CNBC
November 4, 2024
These economic achievements are echoed in a recent report by the Economic Policy Institute that looked at 10 common economic measures (like gross domestic product, wages, private job growth, wealth inequality) since 1949. Despite a frequent Republican claim, the research found that U.S. economic performance is better with Democratic presidents/administrations.
Vicksburg Post
November 4, 2024
Manufacturing jobs fell by 46,000 last month, with the vast majority of these numbers reflecting a massive strike. Job growth was projected to fall by at least 50,000 jobs or more in October in most estimates, according to the Economic Policy Institute, a left-leaning economic think tank. The number of hours worked was also expected to change, but average weekly hours remained the same.
States Newsroom
November 4, 2024
Cordrey cited the Economic Policy Institute, which recently provided a report saying that teachers in Colorado earn 35.9% less than other workers with college degrees. This is reportedly the largest gap in the United States.
The Journal (Colorado)
November 4, 2024
History tells us Black people make 24.4 percent less than white people, according to the Economic Policy Institute. But it all boils down to a real need for policy change. Who you vote for matters!
The Root
November 4, 2024
It’s the last jobs report to be released before Election Day Tuesday. Economists say this month’s report is less informative than usual jobs reports due to noise caused by the storms and strike.
“These jobs will likely rebound quickly and add to job growth numbers in coming months,” Economic Policy Institute chief economist Josh Bivens wrote in a research note.
CBS Moneywatch
November 4, 2024
In These Times
November 4, 2024
According to the Economic Policy Institute, the average CEO-to-worker pay ratio at the 350 largest publicly owned US companies was about 344-to-one in 2022.
Bloomberg
November 4, 2024
Nearly 70% of economists surveyed by The Wall Street Journal said prices would rise faster under Trump than under Harris, and 23 Nobel Prize winners endorsed Harris’ proposals over Trump’s “counterproductive” economic agenda.
“I think it really would feel like a return to 2021 levels of inflation, in terms of how quickly it seems to come from out of the blue,” Josh Bivens, chief economist with the nonprofit EPI Action, told me.
But it won’t be the same flavor of profit-driven inflation we’ve seen over the past three years.
Pandemic-era inflation, with its many supply chain bottlenecks, gave some corporations monopoly-like power over parts of the economy when their competitors couldn’t get more output out the door, Bivens said. “This one will be a more broad-based, chaotic, supply-side push-up of prices.”
CNN Business
November 4, 2024
And a September report by the Economic Policy Institute found that a spike in profits explains well over 40% of the rise in prices between the end of 2019 and mid-2022
Fast Company
November 4, 2024