Question

PODCAST

Raising wages and strengthening economic progress for American workers

Jared Bernstein, Jay Shambaugh, and Adrianna PitaWednesday, March 14, 2018

The Brookings Institution has released a half-hour podcast interviewing two economists about strategies to raise wages and strengthen the economy for American workers.

In this episode, Jay Shambaugh, director of The Hamilton Project and senior fellow in Economic Studies at Brookings, and Jared Bernstein, senior fellow at the Center on Budget and Policy Priorities, discuss the decades-long trend of real wage stagnation and policy solutions for increasing productivity, strengthening wage growth, and ensuring that national economic growth is reflected in the living standards of all American workers.

write a one-page summary bullet pointing their "policy solutions for increasing productivity, strengthening wage growth, and ensuring that national economic growth is reflected in the living standards of all American workers."

Answer 1

The a long time-lengthy pattern of actual wage stagnation and coverage options for increasing productiveness, strengthening wage development, and guaranteeing that national fiscal growth is reflected in the living standards of all American staff.

Revitalizing wage growth insurance policies to get American workers a carry
Are wages relatively rising for American workers?
How to get American workers a carry: policies to revitalize wage growth
Brookings Cafeteria Podcast: Alan Krueger on protecting low-revenue workers from monopsony and collusion
Direct down load of this episode (mp3)

With due to audio producer Gaston Reboredo, Chris McKenna, Brennan Hoban, and Fred Dews for additional aid.
E introduction of wage insurance is expected to shrink unemployment period for those with wage losses by using a small amount. The incentives for shorter period are two-fold. First, the wage of the new job is bigger with wage coverage, making work extra attractive than it's without wage insurance. 2nd, the amount of time for the period of which a employee can acquire wage insurance decreases for on a daily basis considering the fact that the job loss that a brand new job isn't located.

There's, nevertheless, a counter-performing incentive that complete annual sales is greater with wage insurance, which will encourage longer unemployment spells in some cases. For instance, with out wage insurance a worker beforehand gains $42,000 per yr could take a brand new job at $30,000 per yr immediately after job loss in an effort to ensure making a minimum annual revenue (say, to pay a loan). If the employee has wage coverage, however, and is confident that a fall-back job at $30,000 per 12 months will probably be on hand in the course of the primary several months after job loss, she will come up with the money for to seek for as much as two months for an replacement and nonetheless have as a minimum $30,000 in sales in the course of the primary yr after job loss (with $25,000 in earnings from ten months of employment on the fall-again job plus $5,000 in wage coverage).

The evidence from the Canadian gains complement task is the most instantly principal to this question, as it supplied a type of wage coverage (even though no longer precisely the equal as that being regarded within the U.S., as it had a requirement of finding a brand new job inside 26 weeks, seventy five percent earnings replacement, extra beneficiant unemployment coverage benefits, and so on.). This undertaking discovered that unemployment periods had been lowered rather, however now not tremendously. There used to be a enormous increase within the percent working full-time 26 weeks after job loss, possible driven through that program requirement to have full-time work inside 26 weeks in an effort to qualify for the wage supplement repayments. A large part of this expand concerned switching from section-time to full-time work and it was once no longer comprised exclusively of switching from unemployment to full-time work.