EPI in the news

• Jobless Numbers Are ‘Eye-Watering’ but Understate the Crisis

  Using data reported by the Labor Department for March 14 to April 11, the Economic Policy Institute, a liberal research group, estimated that seven in 10 applicants were receiving benefits. That left seven million other jobless workers who had filed claims but were still waiting for relief.

  The New York Times | April 24, 2020
• Lyft gives front-line workers free rides via black, Latino, Asian organizations

  Commuting during the pandemic is a reality for most Hispanic workers. Analyzing data from the U.S. Bureau of Labor Statistics, an Economic Policy Institute report published March 19 found that 16% of Hispanic workers are able to work remotely, compared to 37% of Asian workers, 30% of white workers and nearly 20% of black workers. Low-wage workers have the least flexibility, EPI stated, as 9% in the lowest quartile of the wage distribution can telework compared with 61% of workers in the highest quartile. Along with having the least flexibility for telework, about half (49%) of Hispanic respondents said they or someone in their household has taken a pay cut or lost a job – or both – due to the COVID-19 outbreak, in comparison with 33% of all U.S. adults, according to Pew Research Center.

  HR Dive | April 24, 2020
• Mitch McConnell Is Not as Clever as He Thinks He Is

  Looking back at this period in 2016, the left-leaning Economic Policy Institute concluded that even if other policymakers made serious mistakes, the sluggish recovery from the Great Recession could “be explained entirely by the fiscal austerity imposed by Republicans in Congress.” Austerity put hard limits on the economy’s ability to grow, leading to persistent, long-term unemployment for millions of people.

  The New York Times | April 24, 2020
• MORE AMERICAN WORKERS HAVE FILED FOR UNEMPLOYMENT THAN LIVE IN THE 10 LARGEST CITIES IN THE U.S.

  “Further, job losses are ongoing. Based on [gross domestic product] forecasts, we project that the net decline in employment could exceed 30 million by the end of June,” Heidi Shierholz, senior economist and director of policy at the Economic Policy Institute, wrote in a Thursday morning blog post.

  Newsweek | April 24, 2020
• Layoffs wreck the states that lifted Trump to the White House

  An optimistic scenario would have the economy bouncing back in the second half of the year, which is possible if businesses begin to reopen and economic activity picks up, said Heidi Shierholz, senior economist at the left-leaning Economic Policy Institute. But even then, she said the unemployment rate nationally would probably remain around 8 percent a year from now, and closer to 10 percent by the election.

  “The damage that has been done to the economy is just really, really dramatic,” she said. “It’s going to take some time to get back.”

  Politico | April 24, 2020
• Spotlighting Need for Response ‘At the Scale of This Catastrophe,’ US Unemployment Claims Hit 26.5 Million

  In a series of tweets Thursday and a blog post for the Economic Policy Institute (EPI), the think tank’s senior economist and director of policy Heidi Shierholz explained the five recent weeks of DOL figures (pdf), shared employment projections for the next year, and—like Levitz—pressured members of Congress to step up the federal response.

  EPI projects that by the end of June, net decline in employment could surpass 30 million, and “even under the best-case scenario” the nation’s unemployment rate could remain as high as 8% this time next year.

  The CARES Act and a Senate-approved coronavirus bill expected to pass the House Thursday “both had some important provisions, but they are no match for the damage the economy is facing,” wrote Shierholz. “Federal policymakers need to do more.”

  “The next relief and recovery package should provide $500 billion in aid to state and local governments, extend unemployment insurance benefits, provide better protections for workers and jobs, and include funding to safeguard our democracy,” she added. “And importantly, federal government relief should be tied to actual economic conditions (and not solely the unemployment rate), so that these provisions do not expire too early, when the economy and the people in it still need them.”

  Common Dreams | April 24, 2020
• The coronavirus has hit Latinx people hard. A graduate wants to ease their anxiety.

  Latinxs have high rates of underlying health conditions that could exacerbate the risks of COVID-19, and public health officials report that they have been exposed to the virus more than the general public. Many Latinx people live in close quarters, making it hard to practice social distancing, and work in jobs considered essential under stay-at-home advisories issued by governors across the country. The Economic Policy Institute, a nonprofit thinktank, found that only 16.2 percent of Latinxs can work from home, raising their risk of becoming infected on the job.

  Boston College | April 24, 2020

More EPI in the news