Workers haven’t gained as much leverage as a superficial examination might suggest. Advances thus far, such as they are, still leave miles to travel before the American working class recovers all the economic standing it has lost since the 1970s.
It would be irresponsible to create much higher unemployment – and the US economy could be pushed into recession. There is a strong argument for the Fed to take a break from its aggressive monetary-policy tightening.
Owned by a billionaire Dutch family, Blue Harvest Fisheries has emerged as a dominant force in the lucrative fishing port of New Bedford, Massachusetts. Its business model: benefit from lax antitrust rules and pass costs on to local fishermen.
The legalization of abortion, had dramatic effects on the ages at which and the circumstances under which women became mothers. It reduced the number of teen-age mothers by a third, and that of women who got married as teen-agers by a fifth.
The rise in inflation has not been driven by anything that looks like an overheating labor market—instead it has been driven by higher corporate profit margins and supply-chain bottlenecks.
There are a lot of root causes to Puerto Rico’s debt. But one overarching part of this narrative is the fact that Puerto Rico has been a colony of the United States since 1898.
While inflation-hawks are quick to highlight the cost of higher prices, they rarely, if ever, mention the costs associated with the higher interest rate policy they recommend, costs that include higher unemployment and lower wages for working people.
Workers used the additional resources of the past year to demand better pay and conditions.
Top 1.0% of earners see wages up 179% since 1979 while share of wages for bottom 90% hits new low
The rise in the index of aggregate hours would be equivalent to more than 630,000 jobs with no changes in workweeks. Drop in unemployment in Novembers were largest for the groups that face labor market discrimination.
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