Media clips
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According to the Economic Policy Institute, RTW laws aim to hamstring unions’ ability to help employees bargain with their employers for better wages, benefits and working conditions. Research shows that historically, wages for union workers average about 11% more than those of their non-union counterparts. Non-union workers in RTW states generally have fewer benefits as well.
The Tennessean October 11, 2022 -
To be sure, Valerie Wilson, director of the Economic Policy Institute’s program on race, ethnicity and the economy, said individuals should hold off on drawing firm conclusions from one month of data.
luctuations are common in monthly reports and require several consecutive periods of a similar move before one can deduce a trend.
“It’s still hard to understand whether we’re just seeing volatility in the series because it’s a smaller sample size,” Wilson said.
CNBC October 11, 2022 -
According to the Economic Policy Institute, 30 of America’s 50 states and Washington, D.C., have enacted minimum wages that are higher than the federal standard. That leaves 20 where employers are still allowed to pay their workers as little as $7.25 an hour. Five of them — Alabama, Louisiana, Mississippi, South Carolina and Tennessee — have no minimum wage at all. Two others — Georgia and Wyoming — still have their minimum wages set at $5.15 an hour. In all seven of those states, the federal threshold of $7.25 applies.
GO Banking Rates October 11, 2022 -
That’s according to newly released data from the U.S. Census Bureau. Even as the country suffered through a pandemic, global supply chain disruptions and rising inflation, child poverty rates declined to the lowest on record. As the Institute on Taxation and Economic Policy concluded, much of this can be attributed to last year’s expansion of the Child Tax Credit.
To be sure, some states and localities have spent relief funds in ways that do not actually improve the lives of average Americans. At least 21 states used the money to replenish unemployment insurance funding, which — as the Economic Policy Institute notes — has little impact on economic growth and effectively amounts to a tax cut for corporations. Some local governments are even using funding to build and expand jails and prisons, rather than invest in education, affordable housing, job programs or other programs that address the root causes of crime.
Finger Lakes Times October 11, 2022 -
To be sure, Valerie Wilson, director of the Economic Policy Institute’s program on race, ethnicity and the economy, said individuals should hold off on drawing firm conclusions from one month of data.
luctuations are common in monthly reports and require several consecutive periods of a similar move before one can deduce a trend.
“It’s still hard to understand whether we’re just seeing volatility in the series because it’s a smaller sample size,” Wilson said.
CNBC October 11, 2022 -
According to the Economic Policy Institute, RTW laws aim to hamstring unions’ ability to help employees bargain with their employers for better wages, benefits and working conditions. Research shows that historically, wages for union workers average about 11% more than those of their non-union counterparts. Non-union workers in RTW states generally have fewer benefits as well.
The Tennessean October 11, 2022 -
According to the Economic Policy Institute, 30 of America’s 50 states and Washington, D.C., have enacted minimum wages that are higher than the federal standard. That leaves 20 where employers are still allowed to pay their workers as little as $7.25 an hour. Five of them — Alabama, Louisiana, Mississippi, South Carolina and Tennessee — have no minimum wage at all. Two others — Georgia and Wyoming — still have their minimum wages set at $5.15 an hour. In all seven of those states, the federal threshold of $7.25 applies.
GO Banking Rates October 11, 2022 -
That’s according to newly released data from the U.S. Census Bureau. Even as the country suffered through a pandemic, global supply chain disruptions and rising inflation, child poverty rates declined to the lowest on record. As the Institute on Taxation and Economic Policy concluded, much of this can be attributed to last year’s expansion of the Child Tax Credit.
To be sure, some states and localities have spent relief funds in ways that do not actually improve the lives of average Americans. At least 21 states used the money to replenish unemployment insurance funding, which — as the Economic Policy Institute notes — has little impact on economic growth and effectively amounts to a tax cut for corporations. Some local governments are even using funding to build and expand jails and prisons, rather than invest in education, affordable housing, job programs or other programs that address the root causes of crime.
Finger Lakes Times October 11, 2022 -
A new analysis by the left-leaning Economic Policy Institute looks at C-suite salaries
Pay for chief executive officers rose by just over 11% from 2020 to 2021, according to a new report by the left-leaning Economic Policy Institute.
Compared with the typical worker’s pay, CEOs were paid 399 times as much in 2021, the highest multiple on record, EPI said. In 1965, CEOs were paid 20 times what the average worker made.
On average, CEOs were paid $27.8 million in 2021, the institute said.
And CEO pay has risen by 1,460% since 1978. CEO compensation rose 36% faster than the stock market during this period, the EPI noted, and “far eclipsed the slow 18.1% growth in a typical worker’s annual compensation” over that span, in 2021 dollars.
“Exorbitant CEO pay is a contributor to rising inequality that we could restrain without doing any damage to the wider economy,” Josh Bivens, the director of research at EPI and one of the report’s authors, said in a statement.
“We need to enact policy solutions that would both reduce incentives for CEOs to extract economic concessions and limit their ability to do so,” he added.
Dave Kamper, a senior state policy coordinator at EPI, wrote on Twitter TWTR, -1.35% : “CEO pay has gone up 1,460% since 1978. In our last report released before COVID started, in 2019, it had *only* gone up 940%. That is to say, ONE THIRD of the TOTAL jump in CEO pay since 1978 has come in the past three years.”
The EPI estimated the average CEO compensation of the 350 largest publicly owned U.S. companies. It used data from the S&P Compustat ExecuComp database for the years 1992 to 2021, and survey data published by the Wall Street Journal for selected years dating back to 1965.
Compensation figures included salary, bonuses and long-term incentive payouts, including stock awards and stock options.
The EPI also noted a shift in how CEOs were being paid: CEO compensation in this roundup had shifted away from the use of stock options and toward the use of stock awards.
MarketWatch October 7, 2022 -
American CEOs have seen their pay soar over the last four decades, far higher than the rate of pay raises for average workers.
According to the Economic Policy Institute, between 1978 and 2022, CEO compensation at the 350 largest firms rose by an inflation-adjusted 1460%. Outstripping the 18% increase for typical workers.
The rise, according to researchers, is due mainly to rent-seeking, the ability to manipulate regulations to create monopolies.
News 4 San Antonio October 7, 2022