In 1989, when baby boomers were around the same age, they controlled almost five times as much wealth as millennial do today.
Labor
50 Richest Americans Are Worth As Much As The Poorest 165 Million
Covid-19 has exacerbated inequality in the U.S., with job losses falling heavily on low-wage service workers
80% Of The 1.1 Million Who Left The Workforce Last Month Were Women
The National Women’s Law Center crunched these numbers based on the month’s jobs report from the Bureau of Labor Statistics. And it’s not difficult to speculate about the cause of this gigantic disparity. Child Care.
The Most Retail Bankruptcies and Store Closures Ever in One Year
The pandemic in the first six months of this year fueled uncertainty for retailers and accelerated existing trends, according to BDO’s biannual bankruptcy update.
Economy Has Failed 90% of All Workers
As wage growth stalled for 90% of workers, the average incomes of the top one percent increased at a whopping 300% of the rate of economic growth.
Senate Leaves Town as Unemployment Benefits Set to Expire
Millions of people whose employment has been disrupted by the coronavirus pandemic are set to lose the benefits, which in many cases have been a crucial lifeline.
Across the Country, Teachers Unions Lead Fight Against Opening Schools Prematurely
Florida’s largest teachers union filed a lawsuit against the state government this week. Rank and file in unions in LA and Chicago are also strongly against premature physical opening.
Survey: U.S. Ranked Worst for Workers Rights Among Major Economies
A new survey by the International Trade Union Confederation finds that the U.S. ranks at the bottom of the list for worker’s rights among developed economies.
Labor violations are also at a seven year high globally, the ITUC finds.
Report: US Billionaire’s Wealth Has Increased by over Half a Trillion During Covid-19 Pandemic
A new report by the Institute for Policy Studies (IPS) has found that US billionaire’s wealth as a group has increased by over half a trillion dollars.
This figure represents a 19% increase over the period since March.
Study: Less than 1/3 of Unemployed Americans Received Benefits in March
New startling data reveal than just 29% of the unemployed in the U.S. received benefits in the month of March. Payment rates varied among states. In the worst state, Florida, only 7.6% of claimants received benefits.
Economic Left 