Economic

Why did wages grow in 2020?

The EPI article, Wages grew in 2020 because the bottom fell out of the low-wage labor market, by Elise Gould and Jori Kandra (2/24/2021) provides insights into changes in the labor market this past year. Key find: Wages grew largely because more than 80% of the 9.6 million net jobs …

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How are the top 0.1% doing?

The EPI article Wages for the top1% skyrocketed 160% since 1979 while the share of wages for the bottom 90% shrunk by Lawrence Mishel and Jori Kandra (12/1/2020) reports: As Figure A shows, the top 1.0% of earners are now paid 160.3% more than they were in 1979. Even more …

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How many people live in poverty?

It depends on what we mean by poverty.  The World Bank blog post A quarter of the world lives in societal poverty by Marta Schoch, Dean Mitchell Joliffe, & Christoph Lakner (12/2/2020): Measures of absolute poverty, such as poverty at the US$1.90, US$3.20 and the US$5.50 international poverty lines, have the advantage of …

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