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.
Bloomberg TV
November 10, 2021
Meanwhile, the United States, like all nations, is struggling to recover from job losses, income losses and business losses caused by the COVID-19 pandemic. Last year, the Economic Policy Institute reported that a $2 trillion-dollar investment in clean energy, energy efficiency, and infrastructure in various states would help economies recover and rebuild in ways that do not exacerbate climate change. Clean-energy investments would generate, for example:
Florida Phoenix
November 5, 2021
Myth No. 1: the productivity/pay gap. Progressives, including at the Economic Policy Institute in Washington, assert that the gap between productivity and inflation-adjusted hourly compensation has been widening since the mid-1970s. However, this calculation deflates hourly compensation with the consumer price index, which long has been recognized as upwardly biased. Doing so weighs misleadingly on real hourly compensation. The gap narrows using the personal consumption expenditures deflator, a more accurate measure of consumer prices.
Barron’s
November 5, 2021
At the same time, anywhere from 36 million to 60 million Americans are subject to noncompete agreements, according to an Economic Policy Institute estimate. Noncompete agreements prohibit employees from going to work for a competitor within a certain time frame after leaving their job. Specific circumstances vary by contract, but generally, a noncompete is still valid even if an employee is fired from their job.
The Washington Examiner
November 5, 2021
“Some places have gone to try out what it means to actually be a high-road employer,” Heidi Shierholz, president of the Economic Policy Institute, said. “Reduced turnover, higher productivity, higher morale — through all that stuff you recoup the cost of the increased pay.”
VOX
November 5, 2021
The Economic Policy Institute argues that the “unceasing growth of wage inequality that undercuts wage growth for the bottom 90% reaffirms the need to place generating robust wage growth for the vast majority and worker power at the center of economic policymaking.”
The Collegian
November 5, 2021
The average cost of infant care in South Carolina is $584 per month, which is less than half of the average monthly cost in Greenville County, according to the Economic Policy Institute report.
Gannett
November 5, 2021
To Kate Bronfenbrenner, the director of labor education research at Cornell University’s School of Industrial and Labor Relations, these targeted tactics feel like punching down in an already unfair fight. Although a 2017 study from the Economic Policy Institute found that 48% of nonunionized Americans “would join a union tomorrow” and a separate 2020 Gallup poll found 65% of Americans favor unions, union membership is on the decline.
Morning Brew
November 5, 2021
Meanwhile, the United States, like all nations, is struggling to recover from job losses, income losses and business losses caused by the COVID-19 pandemic. Last year, the Economic Policy Institute reported that a $2 trillion-dollar investment in clean energy, energy efficiency, and infrastructure in various states would help economies recover and rebuild in ways that do not exacerbate climate change. Clean-energy investments would generate, for example.
NC Policy Watch
November 5, 2021
“When the history books look back on this, they’re going to realize that this was a pivotal moment for women in the U.S. economy because now there was enough of an understanding of all of the issues that women have faced fully participating in the labor force,” Elise Gould, a senior economist at the Economic Policy Institute, told Healthcare Dive.
Healthcare Dive
November 5, 2021
The Economic Policy Institute reports the average annual cost of infant care in the state is $9,480 — more than the cost of a year of in-state, four-year college tuition.
WRAL.com
November 5, 2021
Child care costs vary widely from state to state. In Georgia, it costs $8,530 on average annually to enroll an infant in child care, according to a report from the Economic Policy Institute. In Massachusetts, the average annual cost for infant child care is $20,913.
Healthcare Dive
November 5, 2021
Even before the pandemic, many providers struggled to meet basic needs. Child care workers make, on average, less than $14 an hour, according to the Economic Policy Institute, far less than they can earn working at Target, Starbucks or in many fast food restaurants. Workers also tend to lack benefits like health insurance, family leave and paid sick leave
The Hechinger Report
November 5, 2021
As a result, providers often end up passing costs along to parents via higher tuition rates, risking pricing out all but the highest earners. By the time the pandemic hit, the average cost of child care for toddlers had topped $8,500 a year in Arizona, according to the Economic Policy Institute, while infant care averaged nearly $11,000 annually. That’s more than base tuition at an in-state college.
Arizona Public Media
November 5, 2021
Julia Wolfe, Janelle Jones, and David Cooper, “‘Fair workweek’ laws help more than 1.8 million workers” (Washington: Economic Policy Institute, 2018), available at https://www.epi.org/publication/fair-workweek-laws-help-more-than-1-8-million-workers/. David Cooper and Lawrence Mishel, “Calls to establish a regionally adjusted federal minimum wage are dangerously misguided,” Economic Policy Institute, April 5, 2021, available at https://www.epi.org/blog/calls-to-establish-a-regionally-adjusted-federal-minimum-wage-are-dangerously-misguided/.
Center for American Progress
November 5, 2021
MAX B. SAWICKY is a senior research fellow at the Center for Economic and Policy Research. He has worked at the Economic Policy Institute and the Government Accountability Office, and has written for numerous progressive outlets.
In These Times
November 5, 2021
Features Josh discussing the debt ceiling.
WPFW
November 5, 2021
The state minimum wage currently ranges between $13 to $14 in California, second only to Washington DC’s $15.20, according to the Economic Policy Institute. The federal minimum wage has been set at $7.25 since 2009, but some states have chosen to set their own rates.
Business Insider
November 5, 2021
Before Covid, meat processors struggled to meet their labor needs, which increased the hiring of immigrant workers mostly from Mexico. More than a third of the workforce was foreign born, according to a 2020 report by the Economic Policy Institute. That hurt the industry when the Trump administration curtailed immigration.
Bloomberg.com
November 5, 2021
“Timeliness is everything when it comes to the mail,” said Monique Morrissey, an economist with the Economic Policy Institute. The Economic Policy Institute is a left-leaning nonprofit that specializes in economic fairness issues.
Who. What. Why
November 5, 2021
According to the Economic Policy Institute, that $7.25 was worth 14.8% less in 2018 than in 2009 and close to 30% less than in 1968. This has led many to infer that another minimum wage raise is well overdue.
All Work
November 5, 2021
The Economic Policy Institute, a left-leaning think tank, contends that the original $3.5 trillion Build Back Better (BBB) plan would have created 4 million new jobs per year. By comparison, the Tax Foundation, a conservative think tank, estimates it would reduce economic output by nearly one percent over ten years and eliminate about 300,000 jobs due to the added tax burden involved and lessened incentives for people to work.
Forbes
November 5, 2021
“This cost of losses on the student loan portfolio held by the federal government would by definition rise a lot with full forgiveness,” Josh Bivens, director of research at the liberal Economic Policy Institute, said in an email.
The USA Today
November 5, 2021
“When we look at what’s happening in the labor market, I think we’re dealing in unprecedented times,” said Elise Gould at the Economic Policy Institute, who added there’s a reason it’s hard to predict right now.
Marketplace
November 5, 2021
And after graduation, Black borrowers are “navigating labor markets, where they’re increasingly facing discrimination that then requires them to have to return back to higher education because they believe a graduate degree will help them be a buffer against some of that labor market discrimination,” he tells CNBC Make It. According to the Economic Policy Institute, even Black workers with an advanced degree experience a significant wage gap compared with their white counterparts, with Black workers being paid 14.9% less than white workers.
CNBC
November 5, 2021
But people’s feelings about their jobs and the outlook for the economy haven’t broken up; they’re just taking a break. Those two sentiments are intertwined, per Adam Hersh at the Economic Policy Institute.
Marketplace
November 5, 2021
With the news last week that the Biden Administration’s historic paid leave proposals have been stripped from the reconciliation package, pressure is on the Administration to use other avenues to improve work-life balance for struggling families. A key first step should be restoring the 40-hour work week by ordering the Labor Department to issue much stronger regulations that bring back overtime pay coverage for the majority of the salaried workforce that used to be protected.
Democracy Journal
November 5, 2021
In places like Salinas, where agriculture is a major industry, the average rent for a two-bedroom apartment is $1,967. The average annual salary for a full-time farm worker in California is $30,000, according to the Economic Policy Institute.
The Daily Californian
November 5, 2021
But the Biden administration has been slow to undo the trade policies of his predecessor because the tariffs have support in the politically vital state of Pennsylvania. The left-leaning Economic Policy Institute said the tariffs created more than 3,000 steelmaking jobs and Raimondo said they kept workers employed, the Post reports.
UPI
November 5, 2021
In the electorally crucial state of Pennsylvania, for instance, the administration faces strong political pressure to maintain the tariffs on behalf of state steelworkers. An analysis by the Economic Policy Institute, a left-leaning think-tank, found that the tariffs created more than 3,000 steelmaking jobs. Raimondo this month said the tariffs “helped save American jobs in the steel and aluminum industries.”
Washington Post
November 5, 2021