NEW YORK — Workers earning minimum wage in more than two dozen states can expect a raise in 2023. According to the Economic Policy Institute, the following states and Washington, D.C. are set to raise their minimum wage at various points through the new year.
ABC 7
December 16, 2022
Fewer options for parents have also led to higher costs in most areas, though prices vary wildly state to state. For example, while the average annual price of a full-time child care center for a toddler costs more than $24,000 in Washington, DC, it comes out to roughly $6,800 in Arkansas, according to a calculator made by the nonprofit Economic Policy Institute. States like California and New York have some of the least affordable child care options, costing nearly half the median income for a single-parent family, according to a 2021 report from Child Care Aware of America. The same data reveals that in most regions of the US, annual child care costs for an infant are more expensive than housing, and usually exceed the cost of in-state public tuition at a four-year college.
CNET
December 16, 2022
Recent research suggests the pandemic has indeed worsened pre-existing teacher shortages nationwide, according to the Economic Policy Institute. A report released Dec. 6 by the left-leaning think tank points to stressful working conditions and low pay as reasons why there’s a lack of qualified teachers willing to work.
K-12 Dive
December 16, 2022
The closer a worker is to the government — and the older they are — the more likely they are to be unionized. About a third of public employees are unionized versus around 6 percent of private sector employees — about half of all employees covered under a union contract are in the public sector, while 16 percent are in manufacturing and 15 percent are in transportation or utilities, according to Economic Policy Institute (EPI) data.
Grid News
December 16, 2022
Wages are one of the biggest issues in the US. The data from Economic Policy Institute shows that while productivity has grown by 62.5% in the US during 1979-2021, wages in comparison have only grown by 16%. This linear growth in wages relative to exponential productivity growth can be explained in part by the fact that the percentage of unions has halved in the country in the past 40 years, as noted by the Bureau of Labor Statistics.
Insider Monkey
December 16, 2022
While everyone defines “rich” differently, being part of “the 1%” has become synonymous with being wealthy in the U.S. The top 1% of earners in the U.S. earned median annual wages of $823,763 in 2020, according to the Economic Policy Institute.
CNBC
December 16, 2022
Last year 94 per cent of US employers polled by Just Capital, a non-profit US research organisation, said their organisation had committed to greater workplace diversity, equity and inclusion. While this was happening, the average CEO in the top 350 US public companies by revenue earned 399 times more than a median employee, according to the Economic Policy Institute, whose calculations include estimates of the worth of granted shares when cashed in.
Financial Times
December 16, 2022
But the reduction in supply was met with increased demand as Americans started purchasing durable goods to replace the services they used prior to the pandemic, said Josh Bivens, director of research at the Economic Policy Institute. “The pandemic put distortions on both the demand and supply side of the US economy,” Bivens said.
CNET
December 16, 2022
According to the Economic Policy Institute, workers in 21 states got a raise on New Year’s Day in 2022. Minimum wage increases ranged from $0.22 to $1.50 an hour, adding between $458 and $3,120 to the annual earnings of full-time minimum wage workers.
GoBanking Rates
December 16, 2022
Teachers are also working under a “pay penalty,” an economic concept meaning they earn lower weekly wages and receive lower overall compensation for their work than similar college-educated peers, according to the Economic Policy Institute. That penalty reached a record high in 2021, with teachers earning 76.5 cents on the dollar compared with their peers.
Education Week
December 16, 2022