Heidi Shierholz, Economic Policy Institute Senior Economist and Director of Policy, joins Yahoo Finance Live to discuss the October jobs report, the state of the economy, how inflation is affecting year-over-year wage growth, and the outlook for a recession.
Yahoo Finance
November 4, 2022
Features Josh discussing the Federal Reserve rate hikes.
Al Jazeera
November 4, 2022
D.C.’s dining scene, replete with celebrity restaurateurs and two dozen Michelin-starred restaurants, is one of the country’s most celebrated. But proponents of I-82 say the industry’s growth was built on an artificial labor subsidy that exploits workers. “Tips were intended to be an extra or bonus on top of a wage, not your primary source of income,” Saru Jayaraman, the president of One Fair Wage, the national organization leading this effort, says. “Fundamentally, what is wrong with the system is the employers are not paying for the cost of the labor.” Experts say the maddening unpredictability of wages from week to week makes long-term financial planning difficult for restaurant workers. “A system that’s built on customers’ whims for supplying the bulk of a person’s income just leaves a lot up to chance,” David Cooper, an economist at the Economic Policy Institute, says. Leaving pay to the vagaries of customers means that Black and female restaurant workers in Washington get smaller tips than their white and male counterparts.
Washington Monthly
November 4, 2022
“One of the reasons why we continue to see persistent pay disparities both in gender and race is so much of the process and decision making about salary is hidden or secretive,” said Valerie Wilson of the Economic Policy Institute, a left-leaning think tank.
Wilson, director of the think tank’s Program on Race, Ethnicity and the Economy, said it but does feel there’s more worker willingness to discuss pay — and that’s an important first step. Still, she said, “you do need laws that really formalized it as a practice that everyone is required to adhere to.”
Morningstar
November 4, 2022
I tend to agree more with Heidi Shierholz, Chief Economist at the Economic Policy Institute, who said, “People who are quitting are taking other jobs, not just leaving the workforce.”
Forbes
November 4, 2022
Josh Bivens, director of research at the Economic Policy Institute, wrote in July that inflation does not directly decrease people’s incomes in the aggregate in the way that unemployment does and that in the long term, a recession would hurt economic growth more than inflation would.
Tennessee Lookout
November 4, 2022
What impact do unions have? According to the Economic Policy Institute, workers in unions earn an average of 10.2% more than their peers who are not organized; unions set higher wage standards for all workers; union workers are more likely to be covered by employer health insurance packages than non-unionized workers; and union workers have more paid vacation and sick days. Women and Black and Hispanic workers in unions are paid considerably more than their nonunion peers. No wonder unions have a 70% favorability rating, according to a recent Gallup poll, and union organizing is succeeding across the nation.
Knoxville News Sentinel
November 4, 2022
Corporate profits and CEO pay surged to an all time high this year, while more people than ever are taking second jobs to make ends meet. Corporate profits account for over half of the higher prices people are paying, according to the Economic Policy Institute.
KALW
November 4, 2022
About 60 million workers are subject to forced arbitration, according to a 2018 report from the left-leaning Economic Policy Institute. PAYWALL
Fortune
November 4, 2022