A few weeks after Sanders’ hearing, the Economic Policy Institute (EPI) released a study that found: “Corporate profits have contributed disproportionately to inflation.”
EPI’s chief economist Josh Bivens wrote that more than half of companies’ price increases since the start of the pandemic “can be attributed to fatter profit margins, with labor costs contributing less than 8 percent of this increase,” adding: “This is not normal.”
The EPI analysis should have been definitive — but the corporate pundit class chose to ignore it.
The Lever
May 5, 2023
The Economic Policy Institute found that in states with a strong union presence, incomes are higher and more people have health insurance. Critically, these states also have fewer voter restrictions, greater civic engagement, less racial resentment, and increased support among white workers for policies that benefit Black people.
The Chronicle of Philanthropy
May 5, 2023
Heidi Shierholz, former chief economist at the Department of Labor and current head of the think tank Economic Policy Institute, said the labor market isn’t too hot.
“Wage growth is generally trending down,” Shierholz tweeted Friday.5 “We can absolutely sustain the kind of labor market tightness we are seeing today, if the Fed doesn’t stand in the way (or hasn’t already).”
Investopedia
May 5, 2023
The Economic Policy Institute reported on one lawsuit in 2021:
Thousands of skilled migrants with H-1B visas working as subcontractors at well-known corporations like Disney, FedEx, Google, and others appear to have been underpaid by at least $95 million. Victims include not only the H-1B workers but also the U.S. workers who are either displaced or whose wages and working conditions degrade when employers are allowed to underpay skilled migrant workers with impunity.
Breitbart
May 5, 2023
“We were still in a pretty depressed economy and in recovery from the great recession when those cuts were instituted. They just made the recovery last far longer than it should have,” said Josh Bivens, chief economist for the Economic Policy Institute, a leftwing thinktank. “Over the next six or seven years, really valuable public goods and services were not delivered because they were cut so sharply.”
Government spending tends to rise after recessions but per-capita federal spending fell after the debt crisis. Bivens argues that if government spending had continued at its normal levels, the unemployment rate would have returned to its pre-recession level five or six years before 2017, when the job market finally recovered its losses.
The Guardian
May 5, 2023
Lawmakers across eight states — including Minnesota and Missouri — have bills in progress that weaken youth labor laws, according to an Economic Policy Institute analysis.
CBS News
May 5, 2023
The lottery-based H-1B program issues 85,000 new visas each year. Intended for workers with specialized skills, the H-1B is commonly used to acquire talented foreign technologists, but data show it has also been widely used to hire cheaper labor, which is not the stated intent of the program. A 2020 report by the left-leaning Economic Policy Institute concluded that 60% of H-1B jobs certified by the U.S. Department of Labor were assigned wage levels well below local median pay for the occupation.
“It’s incredibly profitable to hire an H-1B worker instead of an American because they’re cheaper,” said Ron Hira, a Howard University professor who co-authored the institute’s report.
The Mercury News
May 5, 2023
Persistently high turnover rates also come with a significant financial cost for school districts. According to a report published in 2017 by the Economic Policy Institute, large urban districts spend approximately $20,000 on every new hire.
EdSurge
May 5, 2023
If it were so, then we wouldn’t see the rollback being pushed by lobbyists for home builders, supermarkets, restaurants and bars, or by Americans for Prosperity, a Koch-affiliated group. All those outfits have been behind the campaign for more child labor, the pro-labor Economic Policy Institute has shown.
LA Times
May 5, 2023