Groups of workers employed in service jobs at federal buildings around D.C. are picketing this morning outside the landmark sites at which they are employed over their low wages. The protest, organized by a new group calling itself Good Jobs Nation, includes people who work at federal building food courts, loading docks, memorabilia shops, and facilities that manufacture uniforms for the military.[...]
It used to be that many Americans entered retirement having paid off their mortgages and most of their other debts. This should have been senior citizens' Golden Years.
Nowadays, more and more people over the age of 65 are struggling with mounting debt levels, fueled primarily by mortgages and credit cards. The average debt held by senior citizens has ballooned to $50,000 in 2010, up 83% since 2001, according to Federal Reserve data crunched by the Employee Benefit Research Institute. [...]
On May 21, I had the opportunity to testify before a Congressional Progressive Caucus meeting on how federal dollars drive inequality by paying contractors who pay too many of their workers too little. The hearing was driven by a study from Amy Traub and her colleagues at Demos, a New York based think tank, that issued a report exposing the many ways that federal contracting often adds to the burden of the low income, especially those who earn less than $12 an hour, or less than $25,000 a year.
Apple always seemed like the perfect company. Not so fast. When CEO Tim Cook testified before Congress on May 25, he didn’t come to talk about Apple’s latest amazing gadget or the need to grant more visas to computer programmers. Rather, in his maiden voyage to Capitol Hill as Steve Jobs’s successor, Cook had to defend the company’s tax-avoidance efforts. What should have been a triumph for Cook was instead an awkward encounter. [...]
With a contracting retirement income system, rapidly rising health-care costs, and the prospect of long-term care expenses, one would have thought that people approaching retirement would be paying off their credit card debt and closing out their mortgages. But surveys suggest that people are entering retirement with more debt than ever before and relying on borrowing to cover expenses in retirement.
Around the world, wealthy countries might be creating jobs but they’re worse jobs that pay lower wages and offer fewer benefits. In the United States, one of the largest employers of low-wage workers is Walmart. About 1.4 million Americans work for Walmart — the company has about two million employees worldwide. And the average hourly wage for a Walmart associate? An estimated $8.81 an hour.
The Organization for Economic Co-operation and Development (OECD) has just released the third iteration of its Better Life index with a fantastic data visualization tool that allows you to compare the 34 existing member countries based on 11 different indicators of human well-being: material conditions including housing, income, and jobs and quality of life conditions including community, education, environment, c
Yesterday, Senator Jeff Merkley (D-OR) got off to an auspicious start as chair of the Banking Subcommittee on Economic Policy by doing something that is all too novel—inviting people with the most at stake in economic policy decisions to testify in Congress.
Last month Nevada joined a growing number of states and cities that are forbidding companies from using credit checks to make employment decisions. But the practice is still legal under federal law. [...]
Credit reports weren’t designed to be job-screening tools. But about half of employers now use them when making hiring decisions, according to a 2012 study by the Society for Human Resource Management. The practice cuts across all sectors of the economy, from high-level management to office assistants, home health-care aides, and people who work the counter serving frozen yogurt.
For some job seekers, repeated rejection by potential employers may be traceable to an unlikely source: their credit report.
Regulators are cracking down on some of the methods companies are using to screen candidates (two major companies this week were accused of using background checks to discriminate against black applicants.) But employers’ use of credit checks during the hiring process is legal and fairly common.
The retail sector has been a star of recent jobs reports. May's numbers from the Department of Labor say it was responsible for adding 28,000 positions to the overall economy. It's on an upward trend – the monthly retail employment number has averaged 20,000 for the past year.
Considering one in nine Americans work in, for or in stores ranging from the corner grocery to big box behemoths, this should be great news. And it would be – if these jobs paid anything resembling a living wage. But all too many of them don't. [...]
Borrowing a line from Tolstoy, Gar Alperovitz’s latest book, What Then Must We Do?: Straight Talk About the Next American Revolution, seeks to resolve a troublesome political puzzle: How do we eradicate systemic problems like inequality, climate destruction, and poverty when these problems seem to get worse and worse, year after year, despite the good efforts of social reformers, progressives, and radicals of all stripes? Good question.
In a keynote address last Friday in Baltimore, Maryland Governor Martin O’Malley broke down the reasons behind his administration’s decision to make Maryland the first state in the union to employ a Genuine Progress Indicator (GPI), a quantitative assessment that integrates both the costs and the benefits of economic development into a monetary measure of whether growth is truly enhancing the welfare of individuals and communities.
Can some types of debt cause the blues? Why are people approaching retirement age carrying credit card debt? This column shares results from recent research about credit card debt among older Americans. [...]
Workers at the Ronald Reagan Building and International Trade Center filed a complaint with the Labor Department on Monday alleging a slew of labor violations against their employers, including not being paid the minimum wage and working as many as 80 hours a week without overtime pay.
The Reagan Building is a federal property, but the workers who lodged the complaint are employed by private businesses in the building's food court, like a Subway sandwich shop, a Quick Pita franchise and a Smoothie King location.
Afraid your bad credit may be holding you back from a great job?
That soon may not be a concern for job-hunting New Yorkers, as the Credit Privacy in Employment Act passed the New York Assembly on June 20. The act will largely ban employers from using credit reports to influence employment decisions.
Members of Congress are calling on the government to get out in front of the growing income gap by addressing the low wages paid within its own buildings.
In a July 2 letter to President Barack Obama, 17 House Democrats said the government needs to take action toward the fair treatment and decent pay of its unskilled service-contract employees, particularly those working at iconic sites such as Union Station, the Smithsonian and the National Zoo.