Kriti Gupta and Jon Erlichman discuss the SEC overahaul and the World Cup final. Guests Today: Heidi Shierholz of the Economic Policy Institute and Joe Mecane of Citadel Securities.
Bloomberg TV
December 23, 2022
Experts say rampant inflation has sunk the real value of today’s federal minimum wage to its lowest point in decades. “(Congress) has really failed at their job of making sure that we have wage standards that are up to date,” said Ben Zipperer, an economist with the Economic Policy Institute — a left-leaning think tank in Washington, D.C.
News Nation Now
December 23, 2022
The Economic Policy Institute determined that: “the expanded Child Tax Credit—a key element of the 2021 American Rescue Plan (ARP) — lifted 2.1 million children out of poverty. The ARP Child Tax Credit is the leading reason child poverty fell so precipitously from 9.7% in 2020 to 5.2% in 2021, the lowest rate on record.”
Tallahassee Democrat
December 23, 2022
Teresa Ghilarducci is the Schwartz Professor of Economics at the New School for Social Research. She’s the co-author of “Rescuing Retirement” and a member of the board of directors of the Economic Policy Institute.
Bloomberg
December 23, 2022
The disparities are profound: A 2021 report from the Economic Policy Institute showed that two-thirds of workers in low-wage jobs didn’t have access to paid sick days even during the pandemic; a 2022 report from the Center for American Progress detailed that 37% of Black women who need leave don’t take it, and many have to go on leave without pay
Teen Vogue
December 23, 2022
The analysis of Social Security Administration data was done by the Economic Policy Institute (EPI), which also compared wage trends over the past four decades. Between 1979 and 2021, the top 1 percent has seen its wages rise by over 200 percent, while the 0.1 percent’s wages rose by over 460 percent, the report found. The bottom 90 percent, meanwhile, saw its wages rise by a mere 29 percent, or just about a 0.7 percent raise yearly on average, compared to the 11.1 percent yearly raise on average for the top 0.1 percent.
Truthout
December 23, 2022
The state minimum wage increases around New Year’s Day will affect 3.4 million workers currently earning base pay and another 5.4 million who make somewhat more but will benefit from ripple effects within a business, according to the left-leaning Economic Policy Institute. The figures don’t include city and county minimum wage increases.
USA Today
December 23, 2022
Inequality in the U.S. deepened in 2021, with the country’s top 0.1% experiencing a 18.5% jump in earnings from the previous year, according to a new report from the left-leaning Economic Policy Institute. The bottom 90% of earners, meanwhile, swallowed an overall loss of 0.2% in inflation-adjusted earnings in the same period.
MarketWatch
December 23, 2022
The employer-provided pension—monthly income from a company for which you no longer work—is a hoary part of the American past that never really existed for most of us. In 1970, at pensions’ peak, just under one in two American workers worked for an employer with the traditional retirement plan. (“A Timeline of the Evolution of Retirement in the United States,” Workplace Flexibility 2010, Georgetown University Law Center, 2010, scholarship.law.georgetown.edu/legal/50.) Today, the number stands at one in five in the private sector. (Monique Morrissey, “Private-Sector Pension Coverage Fell by Half over Two Decades,” Working Economic Blog, Economic Policy Institute, January 11, 2013, https://www.epi.org/blog/private-sector-pension-coverage-decline/.)
The Street
December 23, 2022
“Inflation can normalize without taking a hammer to the head of the economy,” Josh Bivens, research director at the Economic Policy Institute, said Tuesday. But Powell—who has openly targeted workers’ wages as CEO pay runs rampant—brushed aside such arguments during his press conference Wednesday, claiming there is no “painless way to restore price stability.”
Common Dreams
December 23, 2022