“Underemployment”: Misleading unemployment numbers are prompting the Fed and the Bank of England to make a huge errors

New data in a research paper for the National Bureau of Economic Research suggests the wage-dampening effect of mass unemployment has been overtaken by the “underemployment” of the gig economy. Unemployment numbers mean … Continue reading “Underemployment”: Misleading unemployment numbers are prompting the Fed and the Bank of England to make a huge errors

A minimum-wage worker can’t afford a 2-bedroom apartment anywhere in the U.S.

A minimum-wage worker can’t afford a 2-bedroom apartment anywhere in the U.S.

The economy’s booming. Some states have raised minimum wages. But even with recent wage growth for the lowest-paid workers, there is still nowhere in the country where someone working a full-time minimum wage job could afford to rent a modest two-bedroom apartment, according to an annual report released Wednesday by the National Low … Continue reading A minimum-wage worker can’t afford a 2-bedroom apartment anywhere in the U.S.

Unfiltered: ‘Raising wages [doesn’t] kill jobs. It's just a thing rich people say to poor people.’

Unfiltered: ‘Raising wages [doesn’t] kill jobs. It’s just a thing rich people say to poor people.’

When Nick Hanauer was just 7, his father made sure he and his brother knew every aspect of the family business. Today, Hanauer is a self-made billionaire. Hanauer’s business acumen has allowed him to become one of the wealthiest Americans — the so-called 1 percent — but it has also made him … Continue reading Unfiltered: ‘Raising wages [doesn’t] kill jobs. It’s just a thing rich people say to poor people.’