Posts Tagged 'Minimum wage'

Deirdre Fulton – Rising Student Debt Places Living Wage Even Farther Out of Reach: Report

In most of the United States, even a $15 minimum wage isn’t enough to make ends meet—and the gap becomes a chasm if you factor in ballooning student debt.

So says a new report from the People’s Action Institute, released Tuesday, which finds that in most states, the minimum wage provides less than half of the true living wage—an amount that takes into account what families need to cover basic necessities while also saving for emergencies or planning ahead.

What’s more, ...

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Sam Becker – How Much Money Does the Average American Have in Their Bank Account?

Despite living in what is likely the wealthiest nation to ever have existed, Americans sure are having a hard time getting by. As most people are well aware of at this point, wage stagnation and numerous structural economic changes over the years have led to a shrinking middle class, fewer and fewer “good” jobs, and calls for political policies that were once thought to be too poisonous to touch — like a $15 minimum wage, for example.

Given that ...

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Nick Hanauer – Confronting the Parasite Economy

There are two types of businesses in America today: those that pay their workers a living wage—the real economy—and those that don’t—the parasite economy. And all of us who live and work in the real economy should be royally pissed at the way the parasite economy is sucking us dry.

Here in the real economy, we solve the problems, build the things, and pay the wages that make America great. When politicians of both parties promise to attract “good jobs” to their districts or states, ...

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Jobs: How Good are the Jobs the Economy is Creating?

The Wall Street Journal has an interesting report on the jobs created since the recession.

The article takes a close look at employment and wage data to see the makeup of newly created jobs.

There are some flaws and data inaccuracies in the journal report. Nonetheless it is an excellent starting point for discussion.

Please consider Just How Good (or Bad) Are All the Jobs Added to the Economy Since the Recession?

One refrain we hear often from readers of Real Time Economics is ...

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Michelle Chen – Is Retirement Facing Extinction?

The American nest egg is facing financial extinction. Aging workers who thought they could relax in retirement face unprecedented economic stressors, according to new analysis of retirement wealth.

Data from Economic Policy Institute (EPI) reveals retirement wealth is turning into retirement poverty for a growing portion of working households. The labor-focused think tank finds that “retirement wealth has not grown fast enough to keep pace with an aging population and other changes.” While retirement wealth has risen in absolute terms since ...

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Peter Van Buren – Nickel and Dimed in 2016

When presidential candidate Bernie Sanders talks about income inequality, and when other candidates speak about the minimum wage and food stamps, what are they really talking about?

Whether they know it or not, it’s something like this.

My Working Life Then

A few years ago, I wrote about my experience enmeshed in the minimum-wage economy, chronicling the collapse of good people who could not earn enough money, often working 60-plus hours a week at multiple jobs, to feed their families. I saw that, ...

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Paul Buchheit – Our Jobs Are Disappearing

Americans are feeling the impoverishing effects of the shift from middle-income to low-income jobs. The disappearance—or, more accurately, downsizing—of living-wage jobs is documented by numerous reports that reveal the suddenness and the extent of this affront to middle America.

First, the Neoliberal Explanation: It’s Not Really Happening

Business writer Robert Samuelson [1] calls the post-recession low-wage recovery a “myth.” To support his claim he cites a study from the Economic Policy Institute [2] which, according to Samuelson, proves that “the economy’s employment profile—the split ...

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Robert Reich – The Morality of a $15 Minimum

Have you noticed how often conservatives who disagree with a policy proposal call it a “job killer?”

They’re especially incensed about proposals to raise the federal minimum wage. They claim it will force employers to lay off workers worth hiring at the current federal minimum of $7.25 an hour but not at a higher minimum.

But as Princeton University economist Alan Krueger pointed out recently in the New York Times, “research suggests that a minimum wage set as ...

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Bill Quigley – Ten Troubling Numbers Labor Day 2015

5.1. The official unemployment rate is 5.1 percent, or 8 million people, according to the US Department of Labor.  However, this widely reported “official” number overlooks the millions of people unemployed for more than a year nor does it count those who are working part-time and looking for full-time work.  The Department of Labor monthly report which includes people working part-time and looking for full-time work shows the real ...

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John Scales Avery – Child Labour and Slavery

In the early 19th century, industrial society began to be governed by new rules: Traditions were forgotten and replaced by purely economic laws. Labor was viewed as a commodity, like coal or grain, and wages were paid according to the laws of supply and demand, without regard for the needs of the workers. Wages fell to starvation levels, hours of work increased, and working conditions deteriorated.

John Fielden’s book, “The Curse of the Factory System” was written in 1836, ...

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