Report: In MN, Jobless Rate for Blacks is Nearly 4 Times Higher than Whites
Bring Me the News - March 5, 2015, by Adam Uren - Minnesota has the third-highest unemployment gap between white and black people in the country – with the jobless rate among blacks almost four...
Bring Me the News - March 5, 2015, by Adam Uren - Minnesota has the third-highest unemployment gap between white and black people in the country – with the jobless rate among blacks almost four times higher than among whites.
The figures come from a new study by the Center for Popular Democracy, which shows that the unemployment rate in Minnesota among black resident is 3.7 times higher compared to white people.
This is second only to the District of Columbia (5.6 times) and Wisconsin (4.6 times).
The gap in Minnesota has lessened since 2007 however, when 3.85 times
It also found that the jobless rate among Hispanic people is more than two times greater than for white people.
A rally will be held Thursday, WCCO reports, which will “draw attention to the racial differences between wages and jobs available” in the Twin Cities and Minnesota as a whole.
It is being organized by representatives of Neighborhoods Organizing for Change (NOC), the Center for Popular Democracy and the Economy Policy Institute, and held at the NOC offices in W. Broadway Ave., Minneapolis, starting at 3 p.m.
Unemployment falling, gap still wide
The significant disparity between black and white unemployment remains, even though overall unemployment has dropped in recent years thanks to the recovery of Minnesota’s economy since the financial crisis.
The unemployment rate among black people across the state fell to 11.9 percent in 2014, compared to 15.4 per cent in 2007.
However, the rate among white people stood at just 3.2 percent in 2014, down from 4 percent in 2007. The report also found that the unemployment rate among Hispanics stood at 7 percent in 2014, almost the same as it was in 2007.
The unemployment gap is even worse in the metro area, with the graph above showing that the black unemployment rate is 3.89 times higher than white.
The report features a case study of 23-year-old Minneapolis resident Tyrone Raino, who told the Center for Popular Democracy the only full-time job he could find is 40 minutes outside the city, and he works there 40 hours a week while taking a further 20 hours of classes every week.
Disparity is nothing new
Minnesota regularly features among the worst states for racial unemployment gaps.
In 2013, Minnesota was second only to Wyoming according to the Bureau of Labor Statistics, the Star Tribune reports, when the black unemployment rate was triple the white rate.
And in 2011, MPR reported on a study by the Economic Policy Institute, which found the Twin Cities along with Memphis had the biggest white-black unemployment gaps out of the nation’s 50 biggest metropolitan areas.
When The Atlantic ran a piece last month lauding the metro area for its winning mix of affordability, opportunity and wealth, several publications responded by highlighting the gaps that suggest not everything is rosy in the Twin Cities.
It’s not just with unemployment either. WalletHub found Minnesota has the second-worst wealth gap between white people and people of color in the United States, as well as one of the biggest gaps for home ownership levels.
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What We Know About Trump and Clinton's Treasury Picks
Clinton has been defending herself from accusations that she is too cozy with Wall Street since the primaries, when an obscure U.S. senator from Vermont built a movement in part by blasting her...
Clinton has been defending herself from accusations that she is too cozy with Wall Street since the primaries, when an obscure U.S. senator from Vermont built a movement in part by blasting her for collecting chunky speaking fees from Goldman Sachs Group Inc. (GS). Trump has carried on with that line of attack, telling an Iowa rally in late September, "if she ever got the chance, she'd put the Oval Office up for sale." So it may seem odd that Trump's campaign finance chair and apparent favorite for the Secretary of the Treasury, according to a Fox Business report on November 3rd, is second-generation Goldman Sachs partner Steve Mnuchin.
There is less clarity about who Clinton would nominate if she won, perhaps because she has to contend with skepticism of capitalism-as-usual among fans of Bernie Sanders and Elizabeth Warren, without veering too far to the left of the general electorate. Two names tend to pop up, however: Facebook Inc. (FB) COO and Lean In author Sheryl Sandberg, followed by Federal Reserve Board Governor Lael Brainard. Other possibilities include TIAA CEO and Alphabet Inc. (GOOGL, GOOG) board member Roger Ferguson.
Trump: Mnuchin
Steve Mnuchin may not seem to be the obvious choice to fashion economic policy for a populist, anti-establishment campaign like Trump's. Before taking over as the Republican's campaign finance chair in May, Mnuchin pursued a varied career as an investment banker, hedge fund manager, retail bank owner and film producer. (See also, Trump Announces New Economic Advisory Team.)
After graduating from Yale, where he roomed with Sears Holdings Corp.'s (SHLD) current CEO Edward Lampert, Mnuchin cut his teeth at Salomon Brothers. He joined Goldman Sachs, where his father was a partner, in 1985. According to a 2012 Bloomberg profile, Mnuchin was "front and center" when instruments such as collateralized debt obligations and credit default swaps were created. Fairly or unfairly, such exotic securities carry a whiff of the financial crisis, as does Goldman Sachs' mortgage department, which Mnuchin headed for a spell before becoming chief information officer in 1999.
He left Goldman Sachs in 2002 to work at his college roommate's hedge fund. The next year he started another fund with George Soros, and a year after that he formed Dune Capital with two other Goldman alums. This period marked the beginning of Mnuchin's Hollywood career, with Dune Capital's production wing funding dozens of films including Mad Max: Fury Road, American Sniper and Avatar.
Mnuchin's biggest financial opportunity came with the collapse of the subprime mortgage bubble. "In 2008 the world was a scary place," Mnuchin told Bloomberg in 2012. The market for mortgage-backed securities, with which he was intimately familiar, had collapsed, and no one seemed able to assign a value to assets such as IndyMac, a bank the FDIC had taken over. Mnuchin and a consortium of private equity investors he managed to woo over, including Soros, bought it on the cheap. The deal included a loss-sharing agreement with the FDIC. They renamed the bank OneWest and began foreclosing on borrowers, attracting criticism from campaigners who portrayed it as overly zealous and possibly driven by a profit incentive – born of the loss-sharing agreement – to foreclose rather than pursuing other options. (See also, Lessons Learned from the Banking Crisis.)
Mnuchin has donated to Clinton in the past, as has Trump. Speaking to Bloomberg in August, though, he was on message: "she's obviously raised a ton of money in speaking fees, in other things, from special interest groups. This campaign is focused on people who want to help rebuild the economy."
Clinton: Sandberg, Brainard or Ferguson
Clinton suggested at a town hall meeting in April that she plans to fill half of her cabinet with women. Most reports regarding her pick for Treasury secretary, a position that has never been filled by a woman, mentioned Facebook's Sheryl Sanderberg and the Fed's Lael Brainard. Another, less-frequently mentioned name is Roger Ferguson, who would be the first African-American to hold the job.
Sandberg
Sandberg has Treasury Department experience. Before becoming one of the most successful women in notoriously macho Silicon Valley, she served as chief of staff to Bill Clinton's Treasury Secretary Larry Summers. She received her BA and MBA from Harvard in the 1990s and spent a year at McKinsey & Co. She worked for Summers, who had been her professor at Harvard, from 1996 to 2001, which offered her the experience of dealing with the Asian financial crisis. She spent the next seven years as a vice-president of Google, then Mark Zuckerberg hired her away as Facebook's chief operating officer. Within two years she had turned the company profitable. In 2012 she became the first female member of Facebook's board. (See also, Who Is Driving Facebook's Management Team?)
Sandberg has also become an icon for some feminists for her 2013 book Lean In – and its attendant hashtag – which documents the barriers women face in the workplace while encouraging them to dispense with internalized barriers, fears and excuses that hold them back. Despite a generally enthusiastic reception, some critics have labeled the book as elitist: the opportunity to network at Davos may have made Sandberg's barrier-breaking easier. (See also, Sheryl Sandberg's Latest Speech Goes Viral.)
Brainard
Lael Brainard spent part of her childhood in communist East Germany and Poland with her diplomat father. She studied at Wesleyan and went on to get a masters and a doctorate in economics from Harvard. She taught at MIT's Sloan School of Management and worked at McKinsey before joining the Clinton administration as deputy director of the National Economic Council. She went to work at the Brookings Institution during the Bush administration, then served in Obama's Treasury as undersecretary for international affairs. At that time, that position – often described as the Treasury's top diplomat – was the highest Treasury post a woman had held. (See also, Fed's Brainard Urges Caution on Interest Rate Hike.)
Brainard has been a member of the Federal Reserve Board of Governors since June 2014, where she's attracted praise from progressives and deep suspicion from conservatives for appearing to depart from the central bank's technocratic, apolitical norms. She engaged with "Fed Up" activists protesting plans to tighten monetary policy at August's Jackson Hole meeting. (See also, Rising U.S. Labor Productivity Cements Fed Hike.)
Brainard also gave the maximum amount of $2,700 to Hillary Clinton's campaign. That decision earned furious condemnation from Republican members of the House Financial Services Committee during Fed chair Janet Yellen's September testimony, which came just two days after Trump accused the Fed of "doing political things" at the first presidential debate. Yellen defended Brainard's donation, saying she had not violated the Hatch Act, which prohibits federal employees in the executive branch from engaging in certain political activities.
Ferguson
Roger Ferguson earned a BA, JD and Ph. D in economics from Harvard then worked as an attorney in New York from 1981 to 1984. He spent the following 13 years at McKinsey, then joined the Fed Board of Governors in 1997. He became vice chair two years later, and rumors began to swirl in 2005 that he would be the next chair. Bush nominated Ben Bernanke instead, and Ferguson resigned shortly after Bernanke's term began the following February.
In 2008 he became president and CEO of Teachers Insurance and Annuity Association-College Retirement Equities Fund (TIAA-CREF, since shortened to TIAA). He has been a board member of Alphabet since June 2016.
By David Floyd
Source
One of Facebook’s founders is taking on the Federal Reserve
Dustin Moskovitz and his wife, Cari Tuna, have become billionaires since he started the behemoth social networking site with his former Harvard University roommate Mark Zuckerberg. (Moskovitz left...
Dustin Moskovitz and his wife, Cari Tuna, have become billionaires since he started the behemoth social networking site with his former Harvard University roommate Mark Zuckerberg. (Moskovitz left the company in 2008 to found Asana, which streamlines task management). The couple is bringing Silicon Valley-style analytics to the world of philanthropy through their fund, Good Ventures.
The goal is to find and incubate projects with the potential to create the most change for every dollar of funding. Many of the fund’s initiatives tread traditional charitable ground. Good Ventures has backed research on the connection between crime, cannabis and incarceration and helped stop the spread of drug-resistant malarial parasites in Myanmar.
But the group is also broadening its reach into public policy issues, including macroeconomics. It has granted $850,000 to the Center for Popular Democracy over the past year to fund a campaign urging the Fed not to raise its target interest rate until the economy is much stronger. Good Ventures is the single largest backer of the campaign -- dubbed Fed Up -- whose budget this year is about $1 million.
“The central reason we believe that marginally more dovish Fed policy relative to the current baseline would carry net benefits is that, at roughly their current rates, we see unemployment as more costly in humanitarian terms than inflation,” Good Ventures wrote explaining its decision to fund the project. “Dovish” policy generally supports lower interest rates, while a “hawkish” stance would raise them.
The funding has helped the group expand its presence at an annual symposium of economic elite that kicked off Thursday here in the foothills of the Grand Tetons and sponsored by the Federal Reserve Bank of Kansas City. The group arrived at the conference last year with a handful of workersholding up signs and wearing green T-shirts.
This year, Fed Up held “teach-ins” in a meeting room at the same hotel as the Fed’s conference and drew prominent economists such as Nobel Prize winner Joseph Stiglitz, University of California-Berkeley professor Brad DeLong and Center for Economic and Policy Research Co-Director Dean Baker.
The campaign also flew in dozens of workers to underscore the disparity in the nation’s economic recovery. Wage growth has remained stagnant for years, and unemployment among black and Hispanic workers is significantly higher than that of whites.
“An economy that doesn’t deliver for most of its citizens is a failed economy,” Stiglitz said in a press conference in Jackson Hole.
Monetary policy has not traditionally been subject to populist activism, and Good Ventures acknowledges that the success of the campaign is uncertain at best. Fed Up is also working to increase public input in the selection of regional Fed presidents, an effort that Good Ventures rates as more unequivocably positive and, at the very least, easier to measure.
But, the funders note, if the campaign works -- and if easy money is indeed the way to go -- the payoff could be massive:
Our best guess is that the campaign is unlikely to have an impact on the Fed's monetary policy, but that if it does, the benefits from a tighter labor market would be very large; we think this small chance of a large positive impact is sufficient to justify the grant.
However, this is an unusually complex policy area, and we could be mistaken.
Source: Washington Post
Hillary Clinton just endorsed serious Federal Reserve reform
Hillary Clinton embraced an ambitious proposal for reforming the Federal Reserve on Wednesday, according to a statement her campaign gave to The Washington Post.
Five of the 12 Fed...
Hillary Clinton embraced an ambitious proposal for reforming the Federal Reserve on Wednesday, according to a statement her campaign gave to The Washington Post.
Five of the 12 Fed officials who decide the course of monetary policy at the national level are selected by six of the nine governors that run each regional bank in the Federal Reserve system. Three of those six governors are effectively picked by the banking industry in each region. The three who don't pick the officials for the national Fed board are drawn directly from the banking industry, but they still wield considerable influence.
Leftwing reform campaigns have argued for removing the financial industry's influence in the Fed system, and that's what Clinton endorsed. "Secretary Clinton believes that the Fed needs to be more representative of America as a whole and that commonsense reforms — like getting bankers off the boards of regional Federal Reserve banks — are long overdue," said campaign spokesman Jesse Ferguson.
This effectively puts Clinton in the same ballpark as Bernie Sanders on the issue. It also arrives the same day 111 representatives in the House and 11 senators — including Elizabeth Warren — released a letter calling for more diversity among Fed officials. Those officials are overwhelmingly white men, and the letter noted that racial minorities are disproportionately affected when the Fed prioritizes low inflation over high employment.
By Jeff Spross
Source
THE BUZZ 4: Federal Face Time
JACKSON HOLE, WY – Last Thursday was the first time the most powerful financial players in the U.S. formally met with the people their policies affect. During the Federal Reserve Economic Policy...
JACKSON HOLE, WY – Last Thursday was the first time the most powerful financial players in the U.S. formally met with the people their policies affect. During the Federal Reserve Economic Policy Symposium at Jackson Lake Lodge, a meeting between the Fed and Fed Up sparked impassioned speeches that burned through barriers of language, culture, race, and socio-economic status. But the fervency expressed by Fed Up members seemingly had little influence on the Fed’s impending decision to raise interest rates, something Federal Reserve board chair Janet Yellen announced in her annual address the following day.
Still, members of Fed Up—a syndicate of the Center for Popular Democracy built around the ideology that the Fed’s policies affect people of every skin color and income bracket—were encouraged by the meeting.
Shawn Sebastian is the field director of the Fed Up campaign. “I think the meeting with the Fed was historic and unprecedented,” he said. “There are never that many Fed officials in the same room at the same time talking about monetary policy, and they’re certainly not doing that with low income people of color.”
Federal Reserve board leaders like Neel Kashkari, Lael Brainard, Esther George and board vice president Stanley Fischer all participated in the Fed Up roundtable.
The landmark meeting was the result of Jackson Lake Lodge overselling hotel rooms that Fed Up members had reserved. After the group filed several federal complaints, the Fed agreed to the sit down.
‘Don’t slow down the economy’
Echoes of agreement among Fed Up’s constituency rippled through the crowded room at Jackson Lake Lodge Thursday as the roundtable began. Members of Fed Up elucidated ideas of stagnant wages, unemployment, and underemployment that disproportionately plague people of color in the United States. Fed Up members explained how the Federal Reserve’s pending decision to slow down the economy by raising interest rates could damage already neglected communities. Nearly every speaker from Fed Up concluded with one central idea: Don’t slow down the economy. Not yet. Don’t hike interest rates. Not yet. Our communities are still underserved. Our people are still underpaid. Our unemployment rates are still nearly double the national average.
Esther George, chair of the KC Federal Reserve, responded to protestors with deference to Congress. “Our objective is to follow mandates of what Congress has made out,” she told the crowd. “The objective is not to slow down the economy; that would be irresponsible.” George continued by explaining that the objective of the Fed was to walk the balance beam between the ideal of full employment and the consequence of potential inflation due to an oversaturation in the job market.
Fed Up’s expert on economic forces, Josh Bivens of the Economic Policy Institute, said the Fed’s concerns about inflation should be adjusted in light of the impacts of the Great Recession. Bivens claimed a period of “overshooting” employment targets are necessary to heal the effects of that economic disaster, and that this period of overshooting is especially important to people of color, because it takes longer for their unemployment rates to catch up to national averages.
“[If] The Federal Reserve starts slowing the economy, it starts halting progress in reducing unemployment before the benefits of that reach the last people to be hired,” Bivens said.
Promising diversity
Fed Up seemed to impact members of the Federal Reserve Board on a few fronts. Several ambitious promises were made by members of the Fed, catalyzed by discussions held during the roundtable. Sebastian believes the most concrete impacts Fed Up had on the Federal Reserve were when Lael Brainard of the Federal Reserve’s board of governors committed to seriously considering a slate of candidates for board positions that more closely reflect America’s diversity. The board’s lack of diversity is a source of contention among Fed Up members, as the board is comprised of 16 white, predominantly male members. The only exception is Neel Kashkari of the Minneapolis Federal Reserve Bank, who is of Indian descent. Fed Up members are not the first to point this out, however. This summer a formal letter of complaint, signed by Bernie Sanders, Elizabeth Warren and some 127 other lawmakers, demanded the Federal Reserve open up to more diversity.
Another victory for the Fed Up campaign happened when Kashkari recommitted to an impressive research project studying racial disparities. Minnesota and Wisconsin, both states within Kashkari’s district, are rated the worst states in the country for black people to live based on a report by 24/7 Wall Street. Kashkari’s goal is to find the source of the disparities that propagate those statistics.
Blacks in Wisconsin face an unemployment rate of 21 percent which is more than quadruple the national average. Their incarceration rate is the third highest in the country, and their rate of home ownership is the tenth lowest. At a meeting earlier this month in Minneapolis, Kashkari sat down with Neighborhoods Organizing for Change to discuss the problem.
“Some of the racial disparities are a crisis, and we need to treat them like a crisis,” Kashkari said. “There’s something structural in the U.S. economy, in good times and bad, that black unemployment is almost always twice as high as white unemployment.”
However, in spite of all protestor efforts, in what is considered to be one of Federal Reserve Board Chair Janet Yellen’s most important speeches of the year, she explicitly stated that interest rate hikes were on the horizon. Yellen told the audience at Jackson Lake Lodge, “Indeed, in light of the continued solid performance of the labor market and our outlook for economic activity and inflation, I believe the case for an increase in the federal funds rate has strengthened in recent months.” PJH
By Natosha Hoduski
Source
Paid Sick Days Advocates Applaud De Blasio & Mark-Viverito On Expansion Of Earned Sick Time
FOR IMMEDIATE RELEASE: JANUARY 17, 2014
CONTACTS: See below
NEW YORK – Today, Mayor Bill de Blasio and...
FOR IMMEDIATE RELEASE: JANUARY 17, 2014
CONTACTS: See below
NEW YORK – Today, Mayor Bill de Blasio and newly elevated City Council Speaker Melissa Mark-Viverito jointly announced their intention to expand the Earned Sick Time law passed last year with support from the NY Paid Sick Days Coalition.
Specifically, their proposal will close the following loopholes in the Earned Sick Time Act:
Employers with 5-14 workers must now provide paid sick days to their workers. Employers with 15-19 workers must provide paid sick days immediately rather than waiting until 2015. Workers may now use their earned sick time to care for a sibling, grandchild or grandparent. Certain manufacturing employees previously left out will now be covered by the law. City agencies will now be able to proactively enforce the law rather than relying solely on worker complaints.The NY Paid Sick Days coalition includes over ninety organizational members, representing labor unions, public health organizations, educators and children’s advocates, women’s groups, economic justice groups, civil rights leaders, faith leaders, business owners and associations, research organizations, senior advocates, and immigrants’ rights groups.
QUOTES FROM COALITION MEMBERS
Center for Popular Democracy:
The following quote can be attributed to Amy Carroll, deputy director of the Center for Popular Democracy:
“We applaud Mayor de Blasio and Speaker Mark-Viverito for championing and expanding the Earned Sick Time Act. It signals a new day for New York workers and their families that their needs will come first in this administration. We look forward to working with the administration and the council to create policy that will close the income gap and create a more affordable, inclusive city for everyone.” 32BJ SEIU:
The following quote can be attributed to Hector Figueroa, president of 32BJ Service Employees International Union:
“We applaud Mayor de Blasio and Speaker Mark-Viverito for making good on their campaign promises to expand the Paid Sick Act. Although our members can afford to get sick, many of their family members and their neighbors have been forced to choose between their health and their livelihoods. This bill is an important first step in the fight for real income equality in this city and we look forward to working with the administration to make sure this bill and others aimed at improving the quality of life for New York’s working families become law.”
A Better Balance:
The following quote can be attributed to Sherry Leiwant, co-president of A Better Balance:
“A Better Balance is thrilled that the Mayor is expanding the Earned Sick Time Act we helped negotiate last year to provide paid sick days to so many of the workers excluded under that law. Thank you to Mayor de Blasio and Speaker Mark-Viverito for recognizing that New Yorkers should not be forced to choose between their jobs and their own or their family's health."
Community Service Society:
The following quote can be attributed to David R. Jones, president and CEO of the Community Service Society:
"Amending the paid sick leave law to cover more of New York City's smaller businesses is critical because employees of these businesses are the ones who most often now lack access to even one paid sick day. Our latest Unheard Third data shows that the original law effectively leaves out more than a third of the workers now without a single paid sick day -- and just gives them job protection in the form of unpaid leave. CSS applauds the mayor and speaker for their efforts to create a more stable and healthier workforce while ensuring that more low-wage workers receive a basic labor standard that most higher-income earners take for granted."
Make the Road New York:
Leonardo Fernando, member of Make the Road New York, is an immigrant worker originally from Mexico. He works at a car wash in Queens and he said: "I have lived and worked in this country for nine years, and I've never had paid sick days. The business where I work now, Fresh Pond Car Wash, would be covered under this new paid sick days law because it has thirteen employees. We work long shifts, in the heat and the cold, and we use hazardous chemicals. But I never take a day off, even when I'm sick, because I have four children to support and I can't afford to miss a day's pay or risk losing my job. I've gone to work with a fever and with the flu, and I'm so happy that I'll be able to take the day off when I'm too sick to work. I would like to thank Mayor Bill de Blasio and the New York City Council for expanding the paid sick days law and making this one of the new administration's first priorities."
New York City Central Labor Council, AFL-CIO:
The following quote is attributable to Vincent Alvarez, President of the New York City Central Labor Council, AFL-CIO: "A healthy workforce is a more dedicated and focused workforce. I applaud Mayor de Blasio and Speaker Mark-Vivierito for taking this step in the right direction toward expanding the historic Earned Sick Time law that was passed last year, and making it a real priority to improve conditions for hundreds of thousands of our city's workers. The New York City labor movement is committed to continuing to work with the Mayor and the Speaker to ensure that our city's workers are treated with the dignity and respect they deserve. "
New York Paid Leave Coalition:
The following quote can be attributed to Martha Baker, New York Paid Leave Coalition:
“The NYC Paid Sick Days Coalition applauds Mayor de Blasio for proposing amendments to the recently passed Earned Sick Time Act that will provide paid sick days on April 1, 2014 to hundreds of thousands of workers not covered by the original bill. We are delighted that the bill has been expanded and that the Mayor recognizes how important it is that New York City workers have access to paid sick days.”
Restaurant Opportunities Center of New York:
The following quote can be attributed to Daisy Chung, executive director of the Restaurant Opportunities Center of New York:
"We are pleased that Mayor de Blasio and Speaker Mark-Viverito are moving quickly to give more workers the right to paid sick days. With these changes, many restaurant workers who work in the city's smaller restaurants will now have the right to paid sick days. We look forward to working with the Mayor and Speaker to strengthen the Earned Sick Time Act even further so it can be used as a model for the rest of the country."
Working Families Party:
The following quote can be attributed to Dan Cantor, executive director of the Working Families Party:
"This is the first sign of what the new administration could mean for New York. Mayor de Blasio has done what every sensible New Yorker knows he should, and he didn't waste any time. The expansion of paid sick days delivers on a basic tenet of fairness -- that no one should face a choice between their families, their jobs, or their health."
CONTACTS:
Meredith Kolodner, 32BJ SEIU: 917-881-3896
Sherry Leiwant, A Better Balance, 917-535-0075
TJ Helmstetter, Center for Popular Democracy: 973-464-9224
Jeff Maclin, Community Service Society: 212-614-5538
Hilary Klein, Make the Road New York: 347-423-8277
Cara Noel, NY Central Labor Council, AFL-CIO: 212.604.9552
Martha Baker, NY Paid Leave Coalition: 917-992-5300
Rahul Saksena, Restaurant Opportunities Center of New York: 203-561-2959
Khan Shoieb, Working Families Party: 347-596-6389
Jeff Flake jokes about moment when sexual assault survivors confronted him on elevator
Jeff Flake jokes about moment when sexual assault survivors confronted him on elevator
Sen. Jeff Flake cracked a joke Saturday about the viral moment we was confronted by sexual assault survivors on an elevator last week over his support for embattled Supreme Court nominee Brett...
Sen. Jeff Flake cracked a joke Saturday about the viral moment we was confronted by sexual assault survivors on an elevator last week over his support for embattled Supreme Court nominee Brett Kavanaugh.
Read the full article here.
More Cities Should Do What States and Federal Government Aren't on Minimum Wage
More Cities Should Do What States and Federal Government Aren't on Minimum Wage
Source: Gotham Gazette
Early...
Source: Gotham Gazette
Early this month, New York City Mayor Bill de Blasio announced a guaranteed $15 minimum wage for all city government employees by the end of 2018. This is a big win for over 50,000 workers across the city struggling to provide for their families, including those directly on the payroll and tens of thousands working at non-profits that contract with the city.
Unlike in Seattle and Los Angeles, where city officials are empowered to raise the minimum wage for the entire workforce in their cities, Mayor de Blasio is unable to unilaterally raise wages for all New York City workers. That power lies with Gov. Andrew Cuomo and the state legislature. The governor's efforts to lift the minimum wage to $15 are being hampered by a Republican-controlled state Senate.
De Blasio's decision to raise wages for city employees is a crucial independent step towards a more equitable city - and should be seen as an inspiration for cities around the nation. It also reflects the power and momentum of a groundbreaking worker-led countrywide movement demanding higher wages.
Even as state and federal administrations drag their feet on the inevitable question of a decent minimum wage for working families in the United States, de Blasio's gutsy move shows cities can and should take matters into their own hands.
The mayor's minimum wage raise closely follows his announcement last month giving six weeks paid parental leave, and up to 12 weeks when combined with existing leave, to the city's 20,000 non-unionized employees. The mayor has now moved to negotiate the same benefits with municipal unions. Again, New York City private sector workers must look to Albany or Washington, D.C. to move on paid family leave for all.
Mayor de Blasio's recent actions support his goal of lifting 800,000 New Yorkers out of poverty over ten years. More than 20 percent of the city's population lives in poverty, a huge swath of a city commonly associated with extraordinary wealth.
The last couple of years have seen unparalleled momentum from workers themselves - from New York City to Los Angeles and Chicago - calling for livable wages, resulting in minimum wage raises for fast food workers and other groups.
Workers are not waiting patiently on government officials – they are organizing in an unprecedented way. Progressive mayors like de Blasio are responding with sound policy, while less responsive officials are being put on notice. Cities like Los Angeles, New York City, and Chicago are paving the way, showing that it is possible to act independently of state and federal governments.
In addition, laws raising the minimum wage to more than the pitiful federal standard of $7.25 an hour have passed in a number of states. There are now campaigns to raise the floor and standards for workers being led in 14 states and four cities. This momentum is building into a crescendo that will have deep implications for the 2016 presidential election.
Nearly half of our country's workers earn less than $15 an hour and 43 million are forced to work or place their jobs at risk when sick or faced with a critical care-giving need. Now is the time for cities to listen to their workers and override state and federal passivity to allow millions of hard-working Americans to provide for their families.
A puzzle for central bankers: Solid growth but low inflation
Against a backdrop of strengthening growth but chronically low inflation, Federal Reserve Chair Janet Yellen and other central bankers are taking their measure of the global economy at their...
Against a backdrop of strengthening growth but chronically low inflation, Federal Reserve Chair Janet Yellen and other central bankers are taking their measure of the global economy at their annual conference in the shadow of Wyoming's Grand Teton Mountains.
With the prospect of new leadership at the Fed within months, investors will be listening for any hint of shifting interest rate plans from the policymakers. The most watched events will come Friday, when Yellen and Mario Draghi, head of the European Central Bank, will each address the conference.
Read the full article here.
New York immigration activists criticize Schumer for deal to reopen government
New York immigration activists criticize Schumer for deal to reopen government
Before 81 senators, including 33 Democrats, voted on Monday to reopen the federal government, U.S. Senate Minority Leader Charles Schumer blamed President Donald Trump in a speech on the Senate...
Before 81 senators, including 33 Democrats, voted on Monday to reopen the federal government, U.S. Senate Minority Leader Charles Schumer blamed President Donald Trump in a speech on the Senate floor for his refusal to compromise on an immigration deal.
For many liberals in his home state, however, Schumer is to blame for being too willing to compromise, since he agreed to reopen the government without a permanent solution for recipients of the Deferred Action for Childhood Arrivals program.
Read the full article here.
2 months ago
2 months ago