Rich-Poor Employment Gap Highest on record; Minimum wage goes up in CA and Paul Krugman’s call to Give Jobs a Chance

Monday, September 16, 2013

"Rates of unemployment for the lowest-income families — those earning less than $20,000—have topped 21 percent, nearly matching the rate for all workers during the 1930s Great Depression," according to data tracked by the Associated Press that began a decade ago. The analysis shows an increase of middle-income workers pushed into lower-wage jobs, which then displaces lower-skilled, low-income workers, who become unemployed or forced to work fewer hours.

Rich-Poor Employment Gap Now Widest On Record - Associated Press

California residents might see their minimum wage increase to $10 an hour. The California Legislature approved a bill to increase the minimum wage to $10 an house by 2016 if signed into law by Governor Gerry Brown. This increase doesn't go far and it's long overdue, a study released in June by the Restaurant Opportunities Centers United, a national organization focusing on racial equity in the restaurant industry, found that $10.10 minimum wage would have pulled roughly 58 percent of the nation’s 10.4 million working poor out of poverty in 2011. 

These 2 Stats Prove California's $10 Minimum Wage Is A Big Deal - Huffington Post

The Federal Reserve's Open Market Committee —the group who sets the U.S monetary policy -  will be holding its sixth meeting of this year, and is expected to announce the "taper" — a slowing of the pace at which it buys long-term assets. " Please don't do it. If you think about the balance of risks, this is a bad time to be doing anything that looks like a tightening of monetary policy," said Paul Krugman, Columnist for the New York Times. 

Give Jobs a Chance - New York Times

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