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
“If unions are able to negotiate higher pay and better working conditions, you know, employers are gonna have to compete with each other to have those same standards in order to attract workers. So even if you are not a unionized worker, the funding of the NLRB still matters,” said Margaret Poydock, a policy analyst at the Economic Policy Institute.
Marketplace
December 16, 2022
Economic Policy Institute economist Monique Morrissey said she doesn’t doubt that the Biden buyout is the largest of its kind. But she said it is far less than the annual cost of tax benefits given to 401(k)-style retirement plans that generally benefit higher-income taxpayers.
Politifact
December 16, 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.
Common Dreams
December 16, 2022
But industries that use the most H-2B visas have high incidences of wage theft and other labor violations, said Daniel Costa at the Economic Policy Institute. “There’s just really a lack of protections from retaliation when things go wrong on the job, which also includes not being able to change jobs,” said Costa.
Marketplace
December 16, 2022