economics

White House Weighs Executive Order to Raise Minimum Wage for Federal Contract Workers

White House Weighs Executive Order to Raise Minimum Wage for Federal Contract Workers
Guess who is one of the biggest employers of minimum-wage employees? Your own federal government. The government now contracts out a lot of work to companies that pay really, really low wages for jobs that used to provide good pay and benefits. And this means that between nearly 2 million people have to live in poverty. Now, there are reports that President Obama is considering doing something about that.
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New Reports Show Economists Paid by Very Industry They're Supposed to Objectively Analyze

New Reports Show Economists Paid by Very Industry They're Supposed to Objectively Analyze
Have you ever wondered why an economist would say that giving tax cuts to the rich makes the economy better? Or why they say that getting rid of unions is good for the economy? It turns out that many of the industry's experts are paid quite handsomely — by the very industry that they're supposed to be analyzing without bias.
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Stimulating Visual: The Stimulus' Impact Is Easy to See

Stimulating Visual: The Stimulus' Impact Is Easy to See
Did the “stimulus” work? Republicans claim it was a failure, a waste of money, and was the reason the deficit soared. However, an updated version of familiar graph clearly shows the benefits of the much-derided stimulus package.
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Forest Service to States: Give Subsidies Back

 Forest Service to States: Give Subsidies Back
The U.S. Forest Service is in the business of preventing fires, not starting them. Yet the agency set off alarms in Congress and state capitols across the West by citing the automatic spending cuts as the basis for demanding that dozens of states return $17.9 million in federal subsidies.
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Richest 7% of Americans Grew Wealthier During Recession, New Study

Richest 7% of Americans Grew Wealthier During Recession, New Study
The richest Americans got richer during the first two years of the economic recovery while average net worth declined for the other 93 percent of U.S. households, says a report released Tuesday.
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New Bill Would Raise Minimum Wage to $10.10

New Bill Would Raise Minimum Wage to $10.10
Increasing the minimum wage is as no-brainer of a policy as it can get. One, it is extremely popular with the public. Two, it would impact millions of workers—more than 30 million workers would receive a raise if the minimum wage was increased.
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Wages at Financial Institutions Continue to Grow, Even as Wages Everywhere Else Stagnate

Wages at Financial Institutions Continue to Grow, Even as Wages Everywhere Else Stagnate
Wages used to go up as productivity went up, but in the 1970s they decoupled. Productivity kept going up but wages stagnated.
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40% of Americans Now Make Less Than 1968 Minimum Wage

40% of Americans Now Make Less Than 1968 Minimum Wage
The average American’s living standard would be much, much higher today if wages had not decoupled from productivity gains – with the gains all going to the 1 percent instead of being shared by workers. If wages had kept pace we wouldn’t feel the terrible squeeze that everyone in the middle class is feeling.
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