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This is an excerpt from an op-ed that originally published in CNN. Read the full op-ed here.
The federal estate tax should be an effective tool to slightly level the playing field between those who inherit wealth and those who have to work for a living. It should also ensure that family dynasties who’ve amassed enormous fortunes pay their fair share in taxes.
March 12 is Equal Pay Day, a reminder that there is still a significant pay gap between men and women in our country. The date represents how far into 2024 women would have to work on top of the hours they worked in 2023 simply to match what men were paid in 2023. Women were paid 21.8% less on average than men in 2023, after controlling for race and ethnicity, education, age, and geographic division.
Below, EPI economists offer their insights on the jobs report released this morning, which showed 275,000 jobs added in February.
From EPI senior economist, Elise Gould (@eliselgould):
Below, EPI senior economist Elise Gould offers her insights on today’s release of the Job Openings and Labor Turnover Survey (JOLTS) for January. Read the full thread here.
The immigrant share of the labor force reached a record high of 18.6% in 2023, according to our analysis of Current Population Survey (CPS) data from the Bureau of Labor Statistics.1 Anti-immigration advocates have been out in full force, using this as a talking point for deeply misguided commentary and analysis that roughly translates to “immigrants are taking all our jobs.”
Key findings:
Below, EPI economists offer their insights on the jobs report released this morning, which showed 353,000 jobs added in January.
From EPI senior economist, Elise Gould (@eliselgould):
The unemployment rate held steady in January at 3.7%.
26 months in a row of 4.0% or below unemployment!
Social psychologist Robert Rosenthal died at the age of 90 this month. He was best known for his 1968 book, Pygmalion in the Classroom, co-authored by Lenore Jacobson, an elementary school principal in South San Francisco.
Despite consumer sentiment about the economy improving through the end of 2023, there is still a disconnect between how people feel about the economy and what the data show. Consumer spending was up in 2023, especially through the holiday season, yet inflation anxiety and recession fears were still present. Where does this disconnect come from? Are people simply wrong about the economy, or are the numbers lying to us?