Posts Tagged '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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Deirdre Fulton – How the Decline in Union Membership Is Hurting All of Us: Report

The decline of organized labor in the United States has contributed significantly to wage stagnation and rising inequality, according to a new report released Tuesday by the Economic Policy Institute (EPI).

“Rebuilding our system of collective bargaining is an important tool available for fueling wage growth for both low- and middle-wage workers and ending the era of persistent wage stagnation.”
—Economic Policy Institute

The analysis finds that as the share of private-sector workers in a union ...

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Ali Meyer – Health Insurance Premiums Rising Faster Than Wages

Health insurance premiums have increased faster than wages and inflation in recent years, rising an average of 28 percent from 2009 to 2014 despite the enactment of Obamacare, according to a report from Freedom Partners.

President Obama signed the Affordable Care Act into law on March 23, 2010, andWednesday is the law’s sixth anniversary.

The Obama administration expressed concern in 2009 about skyrocketing health care premiums in a report entitled, “The Burden of Health Insurance Premium Increases on ...

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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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Maya Gold – Top Ten CEOs’ Pay Is an Annual Raise for Half a Million Workers

America, chief executive pay is now 300 times more than the average worker. That’s a high enough ratio that presidential candidates are taking note on both sides of the aisle. Senator Bernie Sanders listed the statistic in a statementsupporting mandated CEO disclosure of salaries, and CEO Trump himself declared that the numbers were “disgraceful.”  

However, even on a topic where a democratic socialist and a real estate mogul agree, it turns out that there’s always ...

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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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Dear Janet Yellen, Here Is All You Need To Know About The US Economy: True Unemployment Is Over 12%

One of the great mysteries surrounding the US economy is the seemingly inexplicable discrepancy between the plunging unemployment rate on one hand, which at 5.1% in August was the lowest since April of 2008 – a data point which on the surface would suggest virtually no slack in the labor force –  and the crawling pace of growth of the broader economy, on the other hand, namely the deterioration in US output and labor productivity, and the constant failure of ...

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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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