Media clips

• Empire State Teachers Are Among Highest Paid In US: Study

  “Teachers face myriad issues, including wage degradation,” Seton Hall Professor Christopher Tienken said of the findings. “For example, according to an economic policy institute (EPI) report from August 26, 2022, average weekly teacher wages grew by just $29 when adjusted for inflation, between 1996-2021, compared to $445 for other college graduates over the same period. Dubbed the ‘Teacher pay penalty,’ teachers can make as little as 35 percent less than college-educated people in other professions.”

   
  New Rochelle Patch September 27, 2022
• Opinion

  The Economic Policy Institute shows that more than 60% of Tennessee corporations pay nothing in franchise and excise tax, the state’s corporate income tax.

  The Tennessean September 27, 2022
• Work-from-home wave may leave out most Black workers

  Elise Gould, a senior economist at the Economic Policy Institute, called work-at-home “vastly unequal.” Most workers, she told theGrio, continued going into the workplace during the height of the pandemic.

  But two other numbers from the report support Gould’s point. The survey found that 35% of workers could work from home five days a week, which means most workers can’t. Moreover, 41% of workers could not work from home because their jobs aren’t conducive to remote work.  

  Gould and Asfaw each noted that discrimination, both historical and modern-day, plays a role.

  “I often have people say, well, women are choosing to work in certain professions or choosing to be in certain jobs,” said Gould, who also studies the gender wage gap. “You can say the same thing about occupational segregation by race. There’s historical discrimination in access to education, promotions, and access to all those jobs” that directly impact the disparities we see today.

  “It’s whether or not you have a computer or a broadband Internet subscription,” Gould said. “And certainly there is a very tangible digital divide between black and white households. So certainly whether you have those resources in your community or if you have your resources at home (are) factors that would lead to occupational segregation.”

  The Grio September 27, 2022
• 4 in 10 California teachers considering leaving the classroom

  And as calls for better pay amplify among teacher union strikes and educator surveys, a recent analysis by the Economic Policy Institute found teachers’ weekly wages and total compensation worsened over time compared to college-educated professionals who didn’t teach. Public school teachers’ average weekly wages increased by only $29 from 1996 to 2021 when adjusted only for inflation, while the weekly wages of other college graduates rose by $445 in that same period.

  K-12 Dive September 27, 2022
• BLACK TECH PROFESSIONALS RESOLVED TO OVERCOME RECESSION AND ECONOMIC SLOWDOWN BY STRENGTHENING COMMUNITY NETWORKS

  With the recession’s rise, a climate has developed in which Black professionals have frequently been faced with more lay-offs, hiring freezes, reduced sponsorship possibilities, and smaller raises while also experiencing greater unemployment rates and unemployment periods than their white counterparts. For example, while economists maintain that the U.S. labor market has recovered since the pandemic, with overall unemployment decreasing to 3.5%, a 6% boost impacted Black workers (Economic Policy Institute 2021). An outcome which is not surprising given that Black professionals are often the last hired and first fired during times of economic instability.

  Black Enterprise September 27, 2022
• EPI: Raise the minimum wage to protect low-wage workers

  The following is from the Economic Policy Institute. NOTE: In Washington state, voters have required the state minimum wage be adjusted annually for inflation. The state will soon announce the minimum wage for 2023.

  WASHINGTON, D.C. (Sept. 26, 2022) — There are two main debates about what to do about inflation. One is mostly good-faith (if highly contested): it concerns the actions of the Federal Reserve. Another is mostly bad-faith: it uses the existence of elevated inflation as a cudgel against any progressive policy change and as a justification for long-standing ideological priorities. This is most visible in fiscal policy debates, with some people claiming simultaneously that spending must be restrained (a contractionary move in fiscal policy), but taxes must be cut (an expansionary move).

  FULL TEXT OF JOSH’S BLOG

  The Stand September 27, 2022
• Economics and ice cream

  That reaction to a child’s interest in sharing ice cream echoes current economic reality. The US Economic Policy Institute (EPI) published a report in 2018 that compiled income trends from 1917-2015.   

  A 2015 study by the US Economic Policy Institute reported the top 1% of Tennesseans earned 17.8% of the state’s income. To be in the top 1% in 2015, a Tennessean needed to earn at least $332,913. The average income that year was $44,219.

  According to the EPI study, the average 1% “top dog” had 26.3 times the average yearly income of all the other pack members who may have worked like dogs but who earned much less.   

  This same EPI study reported that the top 1%  of Tennesseans took home 17.8% of all our state’s income in 2015.  The average income of the Tennessee one percenters was $947,021 and the average income for all the rest was $44,219, a ratio of 21.4 in favor of the top very few.  To be in the top 1% in 2015, a Tennessee resident needed to make at least $332,913.    

  Tennessee Lookout September 27, 2022
• Prices are set to fall for homes, cars, and furniture. It’s a sign the Fed may not need to risk a recession that punishes job seekers.

  “Inflation is coming from continued supply chain bottlenecks, the energy prices, dealing with the Russian invasion of Ukraine,” Elise Gould, an economist for the Economic Policy Institute, told Insider. “There’s still some mismatch. I think that some of that’s going to come down on its own, so I think the Federal Reserve doesn’t have to act so aggressively.”

  Business Insider September 23, 2022
• A Left Answer to Inflation

  In fact, corporate profits at nonfinancial companies account for more than half of recent price growth, according to the progressive Economic Policy Institute.

  In These Times September 23, 2022
• Altercation: How the Democrats’ Economics Changed

  The book tells the story of how this change came about, through the work of people like Joseph Stiglitz and groups like the Economic Policy Institute. It’s a really important change because it rejects the assumption of classical economics that left alone, the market will find equilibrium. No—the state has to play an evening-out role.

  September 23, 2022