Post-Great Recession Blues (and then some) Sylvia A. Allegretto, - - PowerPoint PPT Presentation
Post-Great Recession Blues (and then some) Sylvia A. Allegretto, PhD Co-director, Center on Wage & Employment Dynamics Institute for Research & Labor Employment University of California, Berkeley Unions, NLRB, FLSA Corporate
Sylvia A. Allegretto, PhD
Co-director, Center on Wage & Employment Dynamics Institute for Research & Labor Employment University of California, Berkeley
Corporate power & the wealthy elite
Unions, NLRB, FLSA
200,000 400,000 600,000 800,000 1,000,000 1,200,000
Top 1%
Bottom 90% Top 5%
Source: Piketty, T. and Saez, E., The World Top Incomes Database. U.S. before-tax income, excluding K-gains.
Source: Ed Wolff, Survey of Consumer Finances.
4.4% 10.1% 12.2% 36.2% 40.9%
0% 5% 10% 15% 20% 25% 30% 35% 40% 45%
Bottom 40% Middle 20% 4th 20% Next 10% Next 5% Next 4% Top 1%
5% 7% 9% 11% 13% 15% 17% 19% 21% 23% 25%
0% 2% 4% 6% 8% 10% 12% 14% 16% 18% 20% 22% 24% 26%
Top rates lowered to 25% FLSA War-era wage increases ·Feds target inflation ·Deregulation--banking ·Reagan breaks air traffic strike End of Glass-Steagall Enact Glass-Steagall Eisenhower-era 90% top rates NLRA Top tax rate 75% Citizens United Taft-Hartley Act
Source: Saez & Piketty. Top 1% income shares in the United States. Center for Economic & Policy Research. Ex. K-gains.
Great Depression NAFTA Expand free-trade Bush tax cuts
$0 $5,000 $10,000 $15,000 $20,000 $25,000 $30,000 $35,000 $40,000
Bottom 90%
Source: Piketty, T. and Saez, E., The World Top Incomes Database. U.S. before-tax income excluding K-gains 2014$.
0% 50% 100% 150% 200% 250%
Typical hourly compensation Productivity
Source: Economic Policy Institute. Analysis of BLS data.
0% 5% 10% 15% 20% 25% 30% 35% 40% 45% 50%
Source: EPI: Piketty and Saez (2013) and U.S. Census Bureau.
Share of income going to the Top 10%
Union membership
0.9% 1.9% 6.0% 8.1% 10.6% 18.5% 31.2% 47.4%
0% 10% 20% 30% 40% 50% 60% 10th 20th 30th 40th 50th (Median) 60th 70th 80th 90th 95th
Source: BLS Current Population Survey.
$9 $11 $13 $15 $18 $22 $26 $33 $45 $60 $8 $10 $11 $13 $15 $18 $22 $27 $36 $47 $0 $10 $20 $30 $40 $50 $60 $70 10th 20th 30th 40th 50th 60th 70th 80th 90th 95th
Source: Economic Policy Institutes analysis of BLS Current Population Survey 2014 data.
0.00 0.10 0.20 0.30 0.40 0.50 0.60 0.70 0.80 0.90 $0 $10,000 $20,000 $30,000 $40,000 $50,000 $60,000 $70,000 $80,000 $90,000 1960 1963 1966 1969 1972 1975 1978 1981 1984 1987 1990 1993 1996 1999 2002 2005 2008 2011 2014
Female-to-male Earnings ratio Women Men
Source: U.S. Census Bureau. March CPS data 2014$. Full-time, year round workers 1960-2014. Allegretto 2015
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% 1960 1963 1966 1969 1972 1975 1978 1981 1984 1987 1990 1993 1996 1999 2002 2005 2008 2011 2014 2017 2020 2023 2026 2029 2032 2035 2038 2041 2044 2047 2050
Female-to-male Earnings ratio
Source: U.S. Census Bureau. March CPS data 2014$. Full-time, year round workers 1960-2014. Allegretto 2015
Top 5% 68% increase Typical HH 12% increase Contributions to increase in annual wages
Source: Economic Policy Institute State of Working America.
20% 30% 40% 50% 60% 70% 80%
Males Females
Source: BLS Current Population Survey, 2014.
22% 73% 89% 4% 13% 24%
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Bottom 10% Middle 50% Top 10%
Paid sick days Paid family leave
Source: Allegretto’s analysis of EPI’s SWA 2012. Table 4.12. Data from Employee Benefits Survey. Allegretto 2015
0% 2% 4% 6% 8% 10% 12% 14% 16% 18% 20% 13.0% 18.0% 23.0% 28.0%
AUS GER USA FRA
Social expenditure as share of GDP
ICE
$0.00 $1.00 $2.00 $3.00 $4.00 $5.00 $6.00 $7.00 $8.00
TC = 50% TW= 50%
Allegretto 2015 Source: Fair Labor Standards Act & amendments.
$0.00 $1.00 $2.00 $3.00 $4.00 $5.00 $6.00 $7.00 $8.00
Subsidy 71% 40%
TC = 50% TW= 50%
Wages 29%
Allegretto 2015
$0.00 $2.00 $4.00 $6.00 $8.00 $10.00
Allegretto 2015
Allegretto 2015
0% 10% 20% 30% 40% 50% 60% 70% 80% All workers Tipped workers Minimum wage workers Male Female
Source: BLS CPS data. Allegretto & Cooper, 2014 EPI Brief
6.7% 16.1% 19.4% 6.0% 14.6% 16.2% 6.7% 12.1% 13.5%
0% 5% 10% 15% 20% 25% All workers Tipped workers Waiters
Full TC ($2.13 TW) Partial TC ($2.13<TW<MW) No TC (No TW!)
Allegretto 2015 Source: BLS March CPS data. Allegretto & Cooper 2014.
Worker Rights
Raise the minimum wage and eliminate the tipped minimum wage Strengthen collective bargaining rights Strengthen laws against discrimination in hiring, pay, and promotion Provide paid family leave Provide paid sick leave Require fair scheduling practices Provide accessible, affordable, high-quality child care and early
Protect and expand Social Security Provide undocumented workers a path to citizenship Support strong enforcement of labor standards Prioritize wage growth and full employment policy from the Fed.