SE News

How Much America’s Biggest Corporations Have Stolen From Their Own Workers

It's Our Economy - June 17, 2018 - 1:01pm
How do the biggest corporations earn such massive profits? They’d like you to think it’s the result of delivering a superior product or service. But one part of that story is years of wage theft from their employees. Good Jobs First, a policy resource center focused on government and corporate accountability, recently carried out a year-long investigation into wage theft by large employers, compiling information from collective action lawsuits brought by groups of ripped-off workers, as well as actions brought by the department of labor and state-specific regulatory agencies. The results, brought together in a report released this week titled Grand Theft Paycheck: the Large Corporations Shortchanging their Workers’ Wages, are eye-opening: 4,220 cases since the turn of the millennium with penalties totaling $9.2 billion.
Categories: Friends of GEO, SE News

Poverty American Style

It's Our Economy - June 17, 2018 - 12:00pm
The US by saying that “in practice, the United States is alone among developed countries in insisting that while human rights are of fundamental importance, they do not include rights that guard against dying of hunger, dying from a lack of access to affordable healthcare, or growing up in a context of total deprivation. . . at the end of the day, particularly in a rich country like the USA, the persistence of extreme poverty is a political choice made by those in power. With political will, it could readily be eliminated”.
Categories: Friends of GEO, SE News

People Earning Minimum Wage Cannot Afford To Rent Anywhere In The US

It's Our Economy - June 16, 2018 - 10:00am
The figures are from the National Low Income Housing Coalition’s annual Out Of Reach report, which documents the affordability of rental housing to low-income families across the U.S. NLIHC arrived at its bleak findings by taking the cost of a modest two-bed rental home at fair market rent, as calculated by the Department for Housing and Urban Development (HUD) based on an estimate of what a family moving today would expect to pay. It then calculated the amount workers need to earn for these homes to be “affordable” – meaning they spend no more than 30 percent of their income on rent and utilities. The most expensive state is Hawaii, where the fair market rent for a two-bed rental is $1,879 a month, meaning workers need to bring in $36.13 an hour for rent to be affordable.
Categories: Friends of GEO, SE News

How Rich Are The Ultra Rich?

It's Our Economy - June 15, 2018 - 10:00pm
Nearly seven years ago — I know, wow — the Occupy Wall Street movement began highlighting the divide between the top 1 percent and the bottom 99 percent. Since then, it’s become common knowledge that income inequality in the United States is high. But there’s more to the story than just numbers. Income inequality isn’t the defining social issue of our time because your neighbor bought a slightly bigger house or nicer car than you did. It’s because multi-millionaires and billionaires are competing for slightly bigger mega-yachts while our friends set up GoFundMe accounts to plead for help with basic medical expenses.
Categories: Friends of GEO, SE News

Welfare Beats Jobs When It Comes to Poverty Reduction

It's Our Economy - June 14, 2018 - 9:00pm
When it comes to poverty reduction, increasing employment and increasing social spending can both help. But which is the more effective of the two approaches? In this piece, I use data from the OECD to attempt to answer this question. What I find is that social spending is far more effective at reducing poverty than jobs are. Before we get into the numbers, let’s define our terms here. Poverty refers to the percent of people with incomes below 50 percent of a country’s median income. For this analysis, I use both market poverty, which refers to how many people are in poverty when only counting income from market sources such as wages and dividends, and final poverty…
Categories: Friends of GEO, SE News

What’s Behind The Decline In Women Working?

It's Our Economy - June 13, 2018 - 11:00am
Women’s labor force participation and employment peaked around 2000. Many have speculated since then about what caused this stall out and slight decline, with leading theories emphasizing the Great Recession and the lack of family benefits in the US like subsidized child care. There is no doubt some truth to these other theories, but there is another more straightforward cause of this decline: the changing racial demographics of the country. In May of 2000, white women made up 70.4 percent of all women between the ages of 25 and 54. By May of 2018, that number was down to 57.6 percent. Over that same period, Latina women went from 11.3 percent of the population to 18.9 percent. The residual “other” group also grew from 5.2 percent to 10 percent.
Categories: Friends of GEO, SE News

Hiding The Real Number Of Unemployed

It's Our Economy - June 11, 2018 - 8:00pm
A better indication of how many people have found work is the “civilian labor force participation rate.” By this measure, which includes all people age 16 or older who are not in prison or a mental institution, only 62.7 percent of the potential U.S. workforce was actually in the workforce in May, and that was slightly lower than the previous month. This is just about equal to the lowest this statistic has been since the breakdown of Keynesianism in the 1970s, and down significantly from the peak of 67.3 percent in May 2000. You have to go back to the mid-1970s to find a time when U.S. labor participation was lower. This number was consistently lower in the 1950s and 1960s, but in those days one income was sufficient to support a family. Now everybody works and still can’t make ends meet. And that brings us to the topic of wages. After reaching a peak of 52 percent in 1969, the percentage of the U.S. gross domestic product going to wages has fallen to 43 percent, according to research by the St. Louis branch of the Federal Reserve. The amount of GDP going to wages during the past five years has been the lowest it has been since 1929, according to a New York Times report.
Categories: Friends of GEO, SE News
Subscribe to Grassroots Economic Organizing aggregator - SE News