Another dynamic driving the UAW’s wage asks? Skyrocketing CEO pay.
General Motors CEO Mary Barra, the highest-paid chief executive among the Big Three, made nearly $29 million in 2022. Securities and Exchange Commission filings show that this is 362 times the median GM employee’s paycheck.
NPR
September 22, 2023
Credit conditions could also spark a recession if the Fed tightens monetary policy beyond what the labor market has already sustained, said Heidi Shierholz, a former chief economist at the Labor Department who’s now the president of the Economic Policy Institute.
“Right now, we’re in the sweet spot,” she said. “If we have a recession next year it will be a policy failure because of the Fed moving too fast.”
Politico Pro
September 22, 2023
Nursing assistants like her, who do everything from daily chores to physically taxing tasks, are often stretched to their limits. Eight in ten residential long-term care workers are women, according to a report from the Economic Policy Institute. The industry relies on minorities and immigrants, too: Black women make up 22 percent of this industry compared with 6.5 percent of the overall workforce, and immigrant women about 13 percent compared with 7 percent. The median salary is $15.22 per hour, 25 percent lower than that of the overall workforce.
Think Global Health
September 22, 2023
David Cooper, director of the Economic Analysis and Research Network at the Economic Policy Institute, a left-leaning economic think tank, is in favor of the change, arguing that the policy has “significant racial and gender parity implications” because it would raise pay for a workforce that has been historically disadvantaged.
The Eater
September 22, 2023
Wage theft amounts to about $60 billion a year according to reports by the Economic Policy Institute. Despite exposés, corporations regularly rip-off low-wage workers.
Counterpunch
September 22, 2023
Nevertheless, polls continue to show an excruciatingly close race between Biden and Trump (Trump 47-Biden 46 in the late-August CNN poll; Biden 44-Trump 42 in the early September Morning Consult poll). Heidi Shierholz, president of the Economic Policy Institute in Washington, told the New York Times, “I’ve never seen this big of a disconnect between how the economy is actually doing and key polling results about what people think is going on.”
The Messenger
September 22, 2023
Autoworker take-homes have been doing even worse. Their real wages have actually been sinking over recent years. Between 2008 and July 2023, analysts at the Economic Policy Institute reported earlier this week, real average hourly earnings for U.S. auto manufacturing workers fell 19.3 percent.
Inequality.org
September 22, 2023
According to the left-leaning Economic Policy Institute, profits at Ford, General Motors and Stellantis increased 92% from 2013 to 2022, totaling $250 billion. Forecasts for 2023 expect more than $32 billion in additional profits.
Michigan Advance
September 22, 2023
Profits at Ford, General Motors and Stellantis almost doubled between 2013 and 2022, totaling $250 billion, according to the Economic Policy Institute. Over the past four years of the now-expired UAW contract, vehicle prices increased 30% and CEO pay increased 40% while worker pay increased 6%.
Spectrum News 1
September 22, 2023
The number of workers involved in major work stoppages hit the highest levels in decades in the years before the Covid-19 pandemic, particularly in 2018 and 2019. After subsiding during the pandemic, the number of workers who went on strike grew by 50% in 2022, according to a report by the Economic Policy Institute.
CNN Business
September 22, 2023