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Over 9.2 million workers will get a raise on January 1 from 21 states raising their minimum wages | Economic Policy Institute
Twenty-one states will increase their minimum wages on January 1, raising pay for more than 9.2 million workers by a total of $5.7 billion. In addition, 48 cities and counties will raise their minimum wages above their state wage floors, mostly in California, Colorado, and Washington. The January 1 increases show that the minimum wage…
Wage inequality fell in 2023 amid a strong labor market, bucking long-term trends: But top 1% wages have skyrocketed 182% since 1979 while bottom 90% wages have seen just 44% growth | Economic Policy Institute
Wage inequality fell for the second year in a row in 2023 but still remains extremely high, according to our analysis of newly available wage data from the Social Security Administration (SSA). Average real earnings mostly held steady in 2023 (–0.1%) as inflation receded, but there were significant differences across the earnings distribution. The bottom 90% experienced…
Nearly half of U.S workers will live in states with at least a $15 minimum wage by 2027: Alaska and Missouri became the latest states to enact a $15 minimum wage | Economic Policy Institute
In the 2024 election, Alaska and Missouri voters approved ballot measures to increase their state minimum wages to $15 an hour in the coming years. This means that now 15 states and Washington D.C. either have or will have minimum wages of at least $15 an hour. In addition, four more states will likely reach…
Three ways workers’ rights are on the chopping block under President Trump: Judging by the first Trump administration, workers and unions are set to face new attacks and a rollback of rights | Economic Policy Institute
This piece was originally published at In These Times. Much of the Trump-Vance campaign’s platform was designed to provoke outrage rather than to supply policy details. So, if you’re trying to figure out what to actually expect from the coming second Trump administration, it’s helpful to look at the record of Trump’s first term in…
Labor market bounced back in November: Job growth has averaged 173,000 in the last three months | Economic Policy Institute
Below, EPI senior economist Elise Gould offers her insights on today’s release of the jobs report for November. Read the full thread here. It's a big #NumbersDay!! Latest #EconSky data says the labor market is still going strong. After the softer numbers in October from the weather and striking workers, November bounces back with…
New data explore U.S. economic conditions by race and ethnicity—including for American Indian and Alaska Native communities | Economic Policy Institute
This November, EPI’s Program on Race, Ethnicity, and the Economy updated our interactive chartbook showing racially disaggregated data across several domains, including population demographics, civic engagement, labor market outcomes, and health. In addition to updating the charts with the most recent data available, many of the charts now include new data on American Indian and…
Job Openings and Labor Turnover Survey continues to show labor market strength | Economic Policy Institute
Below, EPI senior economist Elise Gould offers her insights on today’s release of the Job Openings and Labor Turnover Survey (JOLTS) for October. Read the full thread here. Latest #JOLTS data out this morning continues to show labor market strength. Job openings ticked up slightly in October and has normalized considerably over the last two…
How trends in American Indian and Alaska Native population growth impact employment data | Economic Policy Institute
American Indian and Alaska Native (AIAN) is a broad and diverse Census-defined racial category that includes Indigenous populations with origins in North America and South (including Central) America. Within the United States, American Indian or Native American is also a political identity defined by tribal citizenship. Of the nearly 8 million people who selected the…
How Republicans in Congress are trying to quietly privatize SNAP through the back door of disaster relief | Economic Policy Institute
The country’s largest and most important government anti-hunger program faces a renewed threat as Congress returns from recess next week: privatization. Congress needs to reauthorize the now-expired Farm Bill—the enormous legislative package that includes funding for the Supplemental Nutrition Assistance Program (SNAP, also known as food stamps)—but a privatization scheme was attached to the…
The policies that will determine whether Trump’s labor secretary pick supports workers | Economic Policy Institute
President-elect Donald Trump recently announced his nomination of Congresswoman Lori Chavez-DeRemer to serve as Secretary of Labor. She is one of only three House Republicans to co-sponsor the Protecting the Right to Organize (PRO) Act and one of only eight Republicans to co-sponsor the Public Service Freedom to Negotiate Act. Both bills would help reform…
Measuring diversity in construction apprenticeship programs: Data show higher rates of participation of women, Hispanic workers, and workers of color in union-based apprenticeships than nonunion programs | Economic Policy Institute
Registered apprenticeship programs represent the lifeblood of the construction industry. These vital workforce development programs—which typically do not require a nickel of student debt or government tax dollars—build worker skills while offering career pathways to good-paying jobs for blue-collar Americans. These programs are also key to the long-run sustainability of the U.S. construction industry, making…
NLRB rules anti-union captive audience meetings an illegal abuse of employer power: States must also continue to broaden protection of workers’ freedom from employer coercion on political, religious matters | Economic Policy Institute
U.S. employers have tremendous power over worker conduct. For decades, federal law has allowed employers to require workers to attend “captive audience” meetings—and force employees to listen to political, religious, or anti-union employer views—on work time. Last week, the National Labor Relations Board (NLRB) ruled that anti-union captive audience meetings in particular are illegal because…
The school bus driver shortage remains severe, and bus driver pay is getting worse | Economic Policy Institute
As the school year got underway in August and September, school districts throughout the country once again faced a daunting challenge: severe bus driver shortages. For instance, the St. Louis Public School District had to cobble together a transportation plan that included Metro bus rides and private cab companies after the district’s primary bus driver…
A review of key 2024 ballot measures: Voters backed progressive policy measures | Economic Policy Institute
In this year’s election, voters given the opportunity to weigh in directly on questions of economic justice showed policy preferences far more progressive than those reflected in many national and state election outcomes. Across the country, voters seized opportunities to approve state or local ballot measures increasing the minimum wage, expanding paid leave, strengthening workers’…
Top-line job growth number distorted by hurricanes and strikes: All other data point to a historically strong labor market | Economic Policy Institute
Below, EPI economists offer their insights on the jobs report released this morning for October. From EPI president Heidi Shierholz Read the full thread here. The topline BLS numbers show the labor market added 12,000 jobs in October – a much lower number than what we've been seeing in recent months, due to people…
Five things to consider on Election Day if you care about economic and racial justice | Economic Policy Institute
Days before one of the most consequential elections in recent history, it’s a good time to consider what’s at stake when it comes to racial and gender economic equality and worker empowerment. You’ve heard the political rhetoric, but here’s a reality check. Here are five things to keep in mind before you enter the voting…
Hurricanes’ impact will distort Friday’s jobs report, but there’s no reason to be spooked about the labor market | Economic Policy Institute
The broader sweep of economic evidence—including yesterday’s extremely strong reading on gross domestic product (GDP) growth for the third quarter of 2024—tells a clear story: The U.S. economy and labor market is extraordinarily strong relative to any historical benchmark. For example, private-sector job growth and inflation-adjusted wages have grown noticeably faster since the end of…
Behind the numbers of Hispanic employment: A strong labor market has delivered historic gains, but differences remain among demographic groups | Economic Policy Institute
The strong labor market over the last two years has produced historic employment gains for Hispanic workers. In 2022, Hispanic workers achieved one of their lowest unemployment rates on record. Later in 2023, the share of the Hispanic population ages 25–54 with a job reached the highest point in recorded history. Behind these aggregate statistics,…
Seven reasons why today’s economy is historically strong | Economic Policy Institute
Economic performance looms large in every presidential election year. In 2024, people’s perception of their own economic situation is high, yet their estimation of the economy’s performance more generally has been noticeably negative. It is often taken as given in economic commentary that the economy was stronger pre-pandemic. This impression is deeply mistaken. The economy…
Time is running out for state and local governments to obligate American Rescue Plan funds | Economic Policy Institute
December 31 is the deadline for states, cities, and municipalities to obligate their State and Local Fiscal Recovery Funds (SLFRF). The $350 billion program—part of the 2021 American Rescue Plan Act (ARPA)—has played an important role in rebuilding and sustaining public services over the last 3.5 years. However, the latest data show many recipient governments…
Today’s teacher shortage is just the tip of the iceberg: Part II | Economic Policy Institute
In a previous post, we highlighted the data indicating a shortage in teacher labor markets and offered solutions to address it. But closing the current labor shortage would not necessarily imply that we have invested enough of society’s resources in public schools. A teacher shortage means that demand for teachers (proxied by vacant positions) is…
Today’s teacher shortage is just the tip of the iceberg: Part I | Economic Policy Institute
The new school year has begun with some confusion over the state of teacher labor markets. News outlets have reported conflicting stories on the teacher shortage, with some saying it is over or improved, and others reporting still not having enough teachers to meet classroom needs. This two-part series looks at labor market conditions of…
Policy choices did not cause recent years’ inflation—but did deliver strong wage growth | Economic Policy Institute
Last week, the Bureau of Labor Statistics reported that 254,000 jobs were created in September and that job growth in both July and August was stronger than initially reported. This report was just the latest confirmation of the extraordinary strength of the U.S. labor market in recent years. This strength is what led to real…
Blockbuster jobs report shows strong growth: The Fed should still continue to lower rates | Economic Policy Institute
Below, EPI economists offer their insights on the jobs report released this morning, which showed 254,000 jobs added in September. From EPI senior economist, Elise Gould (@eliselgould): Read the full thread here. Strong jobs report! - payroll employment up 254,000 with past months revised up by 72,000 - nominal wage growth rose 4.0% over the…
Immigrant workers help grow the U.S. economy: New state fact sheets illustrate the economic benefits of immigration | Economic Policy Institute
Political debates about the impact of immigration on the economy have often been at odds with the facts. But the consensus is surprisingly uncontroversial among economists: Immigration expands and strengthens the economy. The Economic Policy Institute and the Immigration Research Initiative have come together to synthesize some of the most essential facts on immigration, immigrant…
Actually, the U.S. labor market remains very strong | Economic Policy Institute
It is indisputable that the U.S. labor market is strong. The share of the population ages 25–54 with a job is at a 23-year high, median household incomes rose 4.0% last year, and real wage growth over the last four years has been broad-based and strong. The economy has not only regained the nearly 22…
Today’s JOLTS report shows that the Fed did the right thing by lowering rates | Economic Policy Institute
Below, EPI senior economist Elise Gould offers her insights on today’s release of the Job Openings and Labor Turnover Survey (JOLTS) for August. Read the full thread here. Labor market churn continues to decline in August as hiring stays soft and quits tick down while layoffs remain low. After a lot of job switching…
The post-pandemic recovery is an economic policy success story: Policymakers took the best way through a rocky path | Economic Policy Institute
The Federal Reserve belatedly began cutting interest rates two weeks ago, putting a quasi-official stamp on the “soft landing” with inflation nearly being brought down to the Fed’s long-run 2% target without any substantial weakening of the labor market. This milestone seems like a natural time to assess how well macroeconomic managers handled the past…
Access to paid sick leave continues to grow but remains highly unequal | Economic Policy Institute
Absent federal action, states and localities have expanded workers’ ability to earn paid sick leave to care for themselves and their families. The results of these efforts over the past dozen years are clear: there have been significant gains in access to paid sick time among private-sector workers. The latest data released this morning from…
A misleading economic study undersells the benefits from increasing the minimum wage in five cities in Boulder County | Economic Policy Institute
Five municipalities in Boulder County are considering increasing their minimum wages above Colorado’s current level of $14.42 an hour. An economic study commissioned by the municipalities shows that increasing their minimum wages will significantly raise pay for low-wage workers, but also misleadingly characterizes employment losses from the policy. Background In 2019, the Colorado state legislature…
Why the Fed should cut interest rates this week | Economic Policy Institute
Better late than never, the Federal Reserve will almost surely cut interest rates at the Federal Open Market Committee (FOMC) meeting later this week. This cut is too long in coming—disinflationary pressures have been apparent in the economy for almost two years by now. In essence, the Fed decided to discount these disinflationary pressures and…
Latest data show that recent immigrant population growth is not unprecedented and below historical peaks: New immigrants help grow the economy | Economic Policy Institute
Although recent headlines claim that immigration is historically high or even “unprecedented,” new U.S. Census Bureau data show that immigration flows were relatively high but not unprecedented between 2022 and 2023, and were below the historical peaks in the late 1990s. These flows of new immigrants will benefit both immigrants and U.S.-born workers, as shown…
Real median household income rose sharply in 2023—a testament to the strength of the economic recovery | Economic Policy Institute
Today’s Census Bureau data on earnings, income, and poverty in 2023 confirmed many of the predictions made in our preview last week. The strong labor market and falling inflation translated into increases in real median household income and decreases in the official poverty rate. Real (inflation-adjusted) median household income increased by 4.0% to $80,610, the first increase since the…
Most minimum wage studies have found little or no job loss | Economic Policy Institute
There is always a great deal of political heat around minimum wage increases, largely driven by concerns about job losses. After a minimum wage increase, the story goes, many employers will not be able to afford to pay their workers the new higher minimum wage and will therefore shrink their payrolls. If these job losses…
The labor market remains strong yet the Fed should cut rates in September | Economic Policy Institute
Two things are true right now for the U.S. economy: The labor market is extraordinarily strong when judged by any historical benchmark. The Federal Reserve is behind the curve in cutting interest rates and should start cutting them at the Federal Open Market Committee (FOMC) meeting next week, aiming for something like a federal funds…
The labor market remains strong with 142,000 jobs added in August | Economic Policy Institute
Below, EPI economists offers their insights on the jobs report released this morning, which showed 142,000 jobs added in August. From EPI senior economist, Elise Gould (@eliselgould): Read the full thread here. A slow down in job growth is expected as we approach full employment. By all measures, we are still in a strong…
A 2023 Census data preview: Household incomes likely rose because of a strong labor market and falling inflation | Economic Policy Institute
Between 2022 and 2023, the unemployment rate held steady at 3.6% as the labor market added 3.5 million jobs. Over the same period, wages rose faster than inflation—which fell nearly in half. Upcoming Census Bureau data for 2023—set to be released on Tuesday—will reflect how these factors impacted annual earnings, income, and poverty of workers,…
Profits and price inflation are indeed linked | Economic Policy Institute
Last week, the Bureau of Economic Analysis released data on corporate profits in the second quarter of 2024. Perhaps surprisingly, profit margins still have not started moving meaningfully closer to pre-pandemic norms. Given ongoing debates about the relationship between recent years’ price inflation and corporate profits, this blog post reiterates a few points while incorporating…
Job Openings and Labor Turnover Survey shows that the Fed still needs to cut interest rates | Economic Policy Institute
Below, EPI senior economist Elise Gould offers her insights on today’s release of the Job Openings and Labor Turnover Survey (JOLTS) for July. Read the full thread here. Top lines from JOLTS data for July (https://t.co/dXEZgZoGFw): 1. Job openings continue to normalize, falling towards pre-pandemic levels. 2. The hires rate ticks up, a promising sign…
Improving teacher diversity is key to reducing racial disparities in academic outcomes and addressing the teacher shortage | Economic Policy Institute
There is a well-documented shortage of qualified candidates willing to teach in public schools at current compensation levels. But there is also a relative shortage of Black, Hispanic, and Asian-American Pacific Islander (AAPI) teachers. In this post, we measure this relative shortage of teachers by race and ethnicity by comparing the current teacher labor force…