Rob joins BBC to discuss the impact of Fed Policy on currency values. WeTransfer link included.
BBC
September 30, 2022
The inadequacy of wage growth is shown by two other factors. One is the disconnect between productivity growth and wage growth. The two factors marched along together from 1948 until 1979, as the labor-oriented Economic Policy Institute has shown. Since then, the gap between them has grown: From 1979 through 2020, U.S. productivity advanced by 61.8%, but average wages grew by only 17.5%.
LA Times
September 30, 2022
Although, an increase to $15 an hour would absolutely suffice. According to the Economic Policy Institute, raising the federal minimum wage to $15 by 2025 will increase the incomes of around 32 million workers by an average of $3,300 annually.
This comes from the idea that if these 32 million workers were able to make more money, they would have more disposable income to spend at small businesses, therefore generating more income for the business overall. With this disposable income, the Economic Policy Institute estimated that for every $1 paid to a low-income worker, $1.21 is added back into the gross domestic product (GDP).
The Economic Policy Institute projected that in 2025, a single adult with no children would need to work full time and make $18.50 per hour to stay above the poverty line in rural areas of Alabama and Mississippi.
The Daily Cardinal
September 30, 2022
With a more robust social services net, greater numbers of high-quality jobs across the economy and a comprehensive plan for transitioning automated-out workers to new job, automation can be a good thing for the economy in the long run, said Josh Bivens, research director at the Economic Policy Institute.
“Automation is mostly opportunity,” he said. “It’s opportunity we need to manage better than we have, but I think blaming it for problems in inequality … really takes the blame off where it should be,” which is on concrete policy decisions that were the actual drivers, he said.
LA Times
September 30, 2022
A study by the Economic Policy Institute showed disparities are still prevalent in paid leave, specifically sick time, in America.
The EPI report used data from the U.S. Bureau of Labor Statistics to identify trends in employer benefits throughout the country, and found more than 60% of “low-wage workers” still live without the ability to paid for sick time.
“The highest-wage workers (top 10%) are two-and-a-half times as likely to have access to paid sick leave as the lowest-paid workers (bottom 10%),” the report stated.
The data emphasizes the need for not only sick leave, but paid leave of all kinds, something Will Petrik, budget researcher from Policy Matters Ohio, said should be common sense for Ohio.
Ohio Capital Journal
September 30, 2022
An estimated 54% of gig workers do not receive employer-provided benefits, according to Employee Rights Advocacy Institute For Law & Policy, a labor advocacy organization. Most gig workers are classified as independent contractors and are not entitled to benefits enjoyed by full-time employees. Those missing benefits can include paid sick days, health and safety protections, or unemployment insurance, according to a survey analysis by the Economic Policy Institute.
YES! Magazine
September 30, 2022
According to the Economic Policy Institute, 42% of Home Depot workers earn less than $15 an hour. Most — 68% — make between $12 to $18. The living wage in Philadelphia for a single worker with no children is $17.87.
Mundo Obrero Workers World
September 30, 2022
Over the decades, real wages — meaning wages accounting for inflation — have not increased significantly in comparison to the cost of living. The current value of the federally mandated minimum wage, $7.25 an hour, is at its lowest real-dollar level since the 1950s, according to the Economic Policy Institute.
Missouri Independent
September 30, 2022
Other than retirement plans, most families have “little or no retirement savings” and “nearly half of families have no retirement account savings at all, Monique Morrissey of the labor-supported Economic Policy Institute documented in a 2019 paper.
LA Times
September 30, 2022
Schools in the U.S. are back to in-person classes, but many districts continue to struggle with hiring. The Economic Policy Institute tracked trends in teacher wages and compensation and found that “teachers are paid less (in weekly wages and total compensation) than their nonteacher college-educated counterparts.”
Marketplace
September 30, 2022