Tag Archives: wages

The False Jobs Recovery: Low Unemployment Rate Misses Key Points

The False Jobs Recovery: Low Unemployment Rate Misses Key Points
Note: As the corporate media talks about the need to begin to raise interest rates because unemployment is decreasing they fail to report the key point — the major reason unemployment is down is not because of sufficient new jobs but because more Americans have given up trying to work. Unemployment figures have been distorted over the years so this reality is hidden from the unemployment rate. The other important point not emphasized ... Read more

Restauranteurs Ban Tipping, Pay Living Wage

Restauranteurs Ban Tipping, Pay Living Wage
A new restaurant in Philadelphia won’t allow customers to tip its waitstaff. Instead, it plans to pay employees a living wage with generous benefits. By Bryce Covert, www.nationofchange.org Chef Brian Oliveira and co-owner Cristian Mora of Girard Brasserie and Bruncherie, set to open at the end of the month, told ThinkProgress that while wages will vary depending on workers’ experience, they will average about $13 an hour. “On all our other ... Read more

Against the Odds Four NYC worker-owners talk co-ops, family, and jobs with justice

Against the Odds Four NYC worker-owners talk co-ops, family, and jobs with justice
Today we present testimony from four worker-owners, delivered at the the New York City Council Committee on Community Development hearing this past February. the hearing was to consider a proposal for a city budget line devoted to cooperative development. Given that we don't often get to hear directly from worker-owners, we've rescued this important documentation from the bowels of the NYC Council website. The full transcript from the ... Read more

The Typical Household, Now Worth a Third Less

The Typical Household, Now Worth a Third Less
Economic inequality in the United States has been receiving a lot of attention. But it’s not merely an issue of the rich getting richer. The typical American household has been getting poorer, too. The inflation-adjusted net worth for the typical household was $87,992 in 2003. Ten years later, it was only $56,335, or a 36 percent decline, according to a study financed by the Russell Sage Foundation. Those are the figures for a household at ... Read more

On the Causes of Investment Decline in the US Economy

On the Causes of Investment Decline in the US Economy
Is the chronically stagnant US economic recovery since 2009 (predicted in my 2010 book, ‘Epic Recession: Prelude to Global Depression’), the result of insufficient income growth for most households—that is then necessary to stimulate consumption demand that, in turn would result in real investment that would create jobs? Or has the escalation of financial asset prices since 2009—itself the consequence of $10-$15 trillion of Fed and central ... Read more

It Takes an Ecosystem: The Rise of Worker Cooperatives in the US

It Takes an Ecosystem: The Rise of Worker Cooperatives in the US
As the traditional job market deteriorates, the number of worker cooperatives in the United States is growing as people seek more stable and rewarding work. An ecosystem of worker cooperative development organizations is emerging to accelerate this trend. What's a worker cooperative? A worker cooperative is a for-profit business that is owned and managed democratically by employees. Other types of cooperatives exist; for example, consumer ... Read more

Full Employment and the Path to Shared Prosperity

Full Employment and the Path to Shared Prosperity
There are many policies that can reduce inequality, but there is none as straightforward conceptually and as difficult politically as full employment. The basic point is simple: at low rates of unemployment, the demand for labor allows workers at the middle and bottom of the wage distribution to achieve gains in hourly wages, annual hours of work, and thus income. Levels of unemployment are not the gift or curse of the gods; they are the ... Read more

The Democrats’ Working Family Policies: Less than Meets the Eye

The Democrats’ Working Family Policies: Less than Meets the Eye
The New York Times published a story this week about one of those searing episodes in the life of working people in America that lately seem to occur with distressing frequency. This particular story concerned an Arizona woman named Shanesha Taylor who, desperate for a job and unable to find child care, left her two young children in her car to go on a job interview. Her children were removed from her custody and she was charged with felony ... Read more

Economy slumps, Wall Street booms

Economy slumps, Wall Street booms
Alongside the massive diversion of social wealth to the financial elite, the IMF, World Bank and Fed continue to demand the gutting of past social reforms and protections for workers, in the name of “job creation” and “competitiveness.” Calling for cuts in government subsidies that hold down food and energy costs and privatization of state-owned industries, the World Bank in its June 10 Global Economic Prospects report stated: “In a world ... Read more

Rank-and-File Environmentalism

Rank-and-File Environmentalism
That the emergence of ecological consciousness among coal miners was intimately linked to a union democracy movement isn’t a coincidence. Fighting for democratic, rank and file-run unions is necessary for both opening the space for energy workers to discuss how to confront ecological destruction and to build the kind of power that will be necessary to confront the energy giants. Read more