Media clips
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And though the pandemic has hurt all women, women of color are bearing the brunt of the pain. “The December job loss was definitely concentrated among Black and Hispanic women. No question,” said Heidi Shierholz, an economist and director of policy at the Economic Policy Institute. “For white women, it’s a total disaster, but that’s dwarfed by what’s happening in other demographic groups.”
Huffpost January 12, 2021 -
“With hiring and job openings at these levels, the economy is facing a long, slow recovery without additional action from Congress,” said Elise Gould, a senior economist at the Economic Policy Institute in Washington.
Reuters January 12, 2021 -
In November, the number of job openings softened to 6.5 million from 6.6 million the previous month, according to the Bureau of Labor Statistics released this month, while hires were essentially unchanged, increasing to 5.98 million from 5.91 million. Layoffs rose to 2 million from 1.7 million on the month.
This increase was described Tuesday as “troubling” by the Economic Policy Institute, a progressive think tank. “The latest congressional relief bill is an important step toward addressing some of this pain, but it is not at the scale of the problem. I’m hopeful that more relief measures are on the horizon for increasingly desperate workers and their families. Senate Republicans forced the December bill to be far too small,” said Elise Gould, senior economist at the EPI.
“The U.S. economy is seeing a significantly slower hiring pace than we experienced in May or June — roughly where it was before the recession, which is a big problem given that we have only recovered just over half of the job losses from this spring,” the EPI said. “And job openings are now substantially below where they were before the recession began.”
There were 10.7 million unemployed workers, but only 6.5 million job openings in November. “This translates into a job seeker ratio of about 1.6 unemployed workers to every job opening,” Gould said, “or for every 16 workers who were officially counted as unemployed, there were only available jobs for 10 of them. That means, no matter what they did, there were no jobs for 4.2 million unemployed workers.”
The Bureau of Labor Statistics data only covers through November, so is likely rosier than the actual jobs landscape, according to EPI. “It doesn’t even capture December’s job losses, which were substantial. With hiring and job openings at these levels, the economy is facing a long, slow recovery without additional action from Congress,” Gould added. The job losses, thus far, have been concentrated in the services sector, signaling a two-tired economic and jobs recovery.
MarketWatch January 12, 2021 -
January 12, 2021
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Labor Department data show Google, which received 6,054 approvals in fiscal year 2019 for new and renewed H-1B visas, received 1,281 approvals in the fourth quarter of fiscal year 2020. For more than half those workers, pay levels were at least 20% higher than prevailing wages, according to Hira and the left-leaning Economic Policy Institute. Apple, which received 3,469 approvals in fiscal year 2019, received 755 approvals in the fourth quarter of fiscal year 2020, with pay levels at least 20% higher than prevailing wages for nearly three-quarters of them. Facebook, with 3,552 approvals in fiscal year 2019, received 1,247 approvals in the fourth quarter of fiscal year 2020, with pay levels at least 20% higher than prevailing wages for 44% of that group.
East Bay Times January 12, 2021 -
In November the official unemployment rate was 6.7 percent, or 10.7 million workers. But this is a dramatic undercount. The Economic Policy Institute has documented over 26 million workers, 15.5 percent of the workforce, who are either out of work or experiencing a drop in hours and pay.
Dissent Magazine January 12, 2021 -
According to Robert Scott of the Economic Policy Institute, if we could revalue our currency, “the U.S. trade deficit could be reduced by $200 to $500 billion, raising demand for U.S. exports (which are dominated by manufactured goods). Stopping currency manipulation and revaluing the dollar could create 2 to 5 million jobs”.
Industry Week January 12, 2021 -
DOL didn’t say how much workers would lose by being misclassified as independent contractors, though it conceded “this rule could leave workers with fewer critical job-based benefits, including health insurance’—during a pandemic, Scott noted—-“and retirement.”
The Economic Policy Institute calculated the costs, though: $3 billion yearly in lost wages for all independent contractors—truckers, warehouse workers, adjunct professors, some fast food workers, and others—nationwide. Cash-strapped states would lose payroll and workers comp revenue and there would be “a $750 million hit to social insurance programs” including jobless benefits, EPI calculated.
The present and potential “independent contractors” aren’t the only workers who would take an economic hit under Trump regime midnight rules. So would workers, most of them workers of color, who try to survive on tips.
They’d lose at least $700 million annually, EPI Senior Economist Heidi Shierholz reported after DOL unveiled its final “midnight” tipped workers rule on Dec. 11. And that DOL estimate was in the preliminary version, in 2019, before the coronavirus pandemic hit.
People’s World January 12, 2021 -
Cites EPI research.
Center for American Progress January 12, 2021 -
According to the economic policy institute, “In order to stop the economic bleeding caused by the coronavirus pandemic and build a strong recovery, this country needs roughly $3 trillion in relief.”
ABC4-TV January 12, 2021 -
The Economic Policy Institute’s Working Economics blog on July 16, 2020, posted an article by Josh Bivens entitled “Recovering fully from the coronavirus shock will require large increases in federal debt — and there’s nothing wrong with that.” This line of thought troubled us then, and troubles us even more now given the events of last week.
Detroit News January 12, 2021 -
And though the pandemic has hurt all women, women of color are bearing the brunt of the pain. “The December job loss was definitely concentrated among Black and Hispanic women. No question,” said Heidi Shierholz, an economist and director of policy at the Economic Policy Institute. “For white women, it’s a total disaster, but that’s dwarfed by what’s happening in other demographic groups.”
Huffpost January 12, 2021 -
“With hiring and job openings at these levels, the economy is facing a long, slow recovery without additional action from Congress,” said Elise Gould, a senior economist at the Economic Policy Institute in Washington.
Reuters January 12, 2021 -
In November, the number of job openings softened to 6.5 million from 6.6 million the previous month, according to the Bureau of Labor Statistics released this month, while hires were essentially unchanged, increasing to 5.98 million from 5.91 million. Layoffs rose to 2 million from 1.7 million on the month.
This increase was described Tuesday as “troubling” by the Economic Policy Institute, a progressive think tank. “The latest congressional relief bill is an important step toward addressing some of this pain, but it is not at the scale of the problem. I’m hopeful that more relief measures are on the horizon for increasingly desperate workers and their families. Senate Republicans forced the December bill to be far too small,” said Elise Gould, senior economist at the EPI.
“The U.S. economy is seeing a significantly slower hiring pace than we experienced in May or June — roughly where it was before the recession, which is a big problem given that we have only recovered just over half of the job losses from this spring,” the EPI said. “And job openings are now substantially below where they were before the recession began.”
There were 10.7 million unemployed workers, but only 6.5 million job openings in November. “This translates into a job seeker ratio of about 1.6 unemployed workers to every job opening,” Gould said, “or for every 16 workers who were officially counted as unemployed, there were only available jobs for 10 of them. That means, no matter what they did, there were no jobs for 4.2 million unemployed workers.”
The Bureau of Labor Statistics data only covers through November, so is likely rosier than the actual jobs landscape, according to EPI. “It doesn’t even capture December’s job losses, which were substantial. With hiring and job openings at these levels, the economy is facing a long, slow recovery without additional action from Congress,” Gould added. The job losses, thus far, have been concentrated in the services sector, signaling a two-tired economic and jobs recovery.
MarketWatch January 12, 2021 -
According to Robert Scott of the Economic Policy Institute, if we could revalue our currency, “the U.S. trade deficit could be reduced by $200 to $500 billion, raising demand for U.S. exports (which are dominated by manufactured goods). Stopping currency manipulation and revaluing the dollar could create 2 to 5 million jobs”.
Industry Week January 12, 2021 -
DOL didn’t say how much workers would lose by being misclassified as independent contractors, though it conceded “this rule could leave workers with fewer critical job-based benefits, including health insurance’—during a pandemic, Scott noted—-“and retirement.”
The Economic Policy Institute calculated the costs, though: $3 billion yearly in lost wages for all independent contractors—truckers, warehouse workers, adjunct professors, some fast food workers, and others—nationwide. Cash-strapped states would lose payroll and workers comp revenue and there would be “a $750 million hit to social insurance programs” including jobless benefits, EPI calculated.
The present and potential “independent contractors” aren’t the only workers who would take an economic hit under Trump regime midnight rules. So would workers, most of them workers of color, who try to survive on tips.
They’d lose at least $700 million annually, EPI Senior Economist Heidi Shierholz reported after DOL unveiled its final “midnight” tipped workers rule on Dec. 11. And that DOL estimate was in the preliminary version, in 2019, before the coronavirus pandemic hit.
People’s World January 12, 2021 -
Cites EPI research.
Center for American Progress January 12, 2021 -
According to the economic policy institute, “In order to stop the economic bleeding caused by the coronavirus pandemic and build a strong recovery, this country needs roughly $3 trillion in relief.”
ABC4-TV January 12, 2021 -
The Economic Policy Institute’s Working Economics blog on July 16, 2020, posted an article by Josh Bivens entitled “Recovering fully from the coronavirus shock will require large increases in federal debt — and there’s nothing wrong with that.” This line of thought troubled us then, and troubles us even more now given the events of last week.
Detroit News January 12, 2021 -
And though the pandemic has hurt all women, women of color are bearing the brunt of the pain. “The December job loss was definitely concentrated among Black and Hispanic women. No question,” said Heidi Shierholz, an economist and director of policy at the Economic Policy Institute. “For white women, it’s a total disaster, but that’s dwarfed by what’s happening in other demographic groups.”
Huffpost January 12, 2021 -
“With hiring and job openings at these levels, the economy is facing a long, slow recovery without additional action from Congress,” said Elise Gould, a senior economist at the Economic Policy Institute in Washington.
Reuters January 12, 2021 -
In November, the number of job openings softened to 6.5 million from 6.6 million the previous month, according to the Bureau of Labor Statistics released this month, while hires were essentially unchanged, increasing to 5.98 million from 5.91 million. Layoffs rose to 2 million from 1.7 million on the month.
This increase was described Tuesday as “troubling” by the Economic Policy Institute, a progressive think tank. “The latest congressional relief bill is an important step toward addressing some of this pain, but it is not at the scale of the problem. I’m hopeful that more relief measures are on the horizon for increasingly desperate workers and their families. Senate Republicans forced the December bill to be far too small,” said Elise Gould, senior economist at the EPI.
“The U.S. economy is seeing a significantly slower hiring pace than we experienced in May or June — roughly where it was before the recession, which is a big problem given that we have only recovered just over half of the job losses from this spring,” the EPI said. “And job openings are now substantially below where they were before the recession began.”
There were 10.7 million unemployed workers, but only 6.5 million job openings in November. “This translates into a job seeker ratio of about 1.6 unemployed workers to every job opening,” Gould said, “or for every 16 workers who were officially counted as unemployed, there were only available jobs for 10 of them. That means, no matter what they did, there were no jobs for 4.2 million unemployed workers.”
The Bureau of Labor Statistics data only covers through November, so is likely rosier than the actual jobs landscape, according to EPI. “It doesn’t even capture December’s job losses, which were substantial. With hiring and job openings at these levels, the economy is facing a long, slow recovery without additional action from Congress,” Gould added. The job losses, thus far, have been concentrated in the services sector, signaling a two-tired economic and jobs recovery.
MarketWatch January 12, 2021 -
According to Robert Scott of the Economic Policy Institute, if we could revalue our currency, “the U.S. trade deficit could be reduced by $200 to $500 billion, raising demand for U.S. exports (which are dominated by manufactured goods). Stopping currency manipulation and revaluing the dollar could create 2 to 5 million jobs”.
Industry Week January 12, 2021 -
DOL didn’t say how much workers would lose by being misclassified as independent contractors, though it conceded “this rule could leave workers with fewer critical job-based benefits, including health insurance’—during a pandemic, Scott noted—-“and retirement.”
The Economic Policy Institute calculated the costs, though: $3 billion yearly in lost wages for all independent contractors—truckers, warehouse workers, adjunct professors, some fast food workers, and others—nationwide. Cash-strapped states would lose payroll and workers comp revenue and there would be “a $750 million hit to social insurance programs” including jobless benefits, EPI calculated.
The present and potential “independent contractors” aren’t the only workers who would take an economic hit under Trump regime midnight rules. So would workers, most of them workers of color, who try to survive on tips.
They’d lose at least $700 million annually, EPI Senior Economist Heidi Shierholz reported after DOL unveiled its final “midnight” tipped workers rule on Dec. 11. And that DOL estimate was in the preliminary version, in 2019, before the coronavirus pandemic hit.
People’s World January 12, 2021 -
Cites EPI research.
Center for American Progress January 12, 2021 -
According to the economic policy institute, “In order to stop the economic bleeding caused by the coronavirus pandemic and build a strong recovery, this country needs roughly $3 trillion in relief.”
ABC4-TV January 12, 2021 -
The Economic Policy Institute’s Working Economics blog on July 16, 2020, posted an article by Josh Bivens entitled “Recovering fully from the coronavirus shock will require large increases in federal debt — and there’s nothing wrong with that.” This line of thought troubled us then, and troubles us even more now given the events of last week.
Detroit News January 12, 2021 -
And though the pandemic has hurt all women, women of color are bearing the brunt of the pain. “The December job loss was definitely concentrated among Black and Hispanic women. No question,” said Heidi Shierholz, an economist and director of policy at the Economic Policy Institute. “For white women, it’s a total disaster, but that’s dwarfed by what’s happening in other demographic groups.”
Huffpost January 12, 2021 -
“With hiring and job openings at these levels, the economy is facing a long, slow recovery without additional action from Congress,” said Elise Gould, a senior economist at the Economic Policy Institute in Washington.
Reuters January 12, 2021 -
In November, the number of job openings softened to 6.5 million from 6.6 million the previous month, according to the Bureau of Labor Statistics released this month, while hires were essentially unchanged, increasing to 5.98 million from 5.91 million. Layoffs rose to 2 million from 1.7 million on the month.
This increase was described Tuesday as “troubling” by the Economic Policy Institute, a progressive think tank. “The latest congressional relief bill is an important step toward addressing some of this pain, but it is not at the scale of the problem. I’m hopeful that more relief measures are on the horizon for increasingly desperate workers and their families. Senate Republicans forced the December bill to be far too small,” said Elise Gould, senior economist at the EPI.
“The U.S. economy is seeing a significantly slower hiring pace than we experienced in May or June — roughly where it was before the recession, which is a big problem given that we have only recovered just over half of the job losses from this spring,” the EPI said. “And job openings are now substantially below where they were before the recession began.”
There were 10.7 million unemployed workers, but only 6.5 million job openings in November. “This translates into a job seeker ratio of about 1.6 unemployed workers to every job opening,” Gould said, “or for every 16 workers who were officially counted as unemployed, there were only available jobs for 10 of them. That means, no matter what they did, there were no jobs for 4.2 million unemployed workers.”
The Bureau of Labor Statistics data only covers through November, so is likely rosier than the actual jobs landscape, according to EPI. “It doesn’t even capture December’s job losses, which were substantial. With hiring and job openings at these levels, the economy is facing a long, slow recovery without additional action from Congress,” Gould added. The job losses, thus far, have been concentrated in the services sector, signaling a two-tired economic and jobs recovery.
MarketWatch January 12, 2021