Labor economists have explained that lower job turnover is one of the reasons why raising the minimum wage has very little impact on employment, contrary to classical economic theory. A higher minimum wage makes it easier for employers to recruit … Continue reading Prevailing Wage States Have Fewer Job Separations in Construction
State legislators in Iowa could enact “high-road” policies to encourage the private sector to meet the impending skilled construction worker shortage, according to a new Economic Commentary [PDF] by the Midwest Economic Policy Institute. The construction industry has grown since the market … Continue reading Iowa’s Shortage of Skilled Construction Workers
FIRST OF ITS KIND NATIONAL STUDY EXAMINES ECONOMIC, SOCIAL, AND FISCAL IMPACTS OF STATE PREVAILING WAGE LAWS Report Concludes that Construction Wage Standards are Cost Neutral, Boost Economies and Public Budgets, and Promote Middle Class Career Pathways for Minorities and … Continue reading State Prevailing Wage Laws Save or Create 400,000 Jobs in America
In a decision on Wednesday, a federal judge in Kentucky ruled that the National Labor Relations Act (NLRA) prohibits local units of government from enacting “right-to-work” zones.
Economists across the country have advocated for raising the minimum wage, claiming that the benefits outweigh the costs. For example, increasing the minimum wage has been found to boost consumer spending and reduce income inequality in the economy.
The federal minimum wage is $7.25 an hour and has not been increased since 2009. Though the federal rate has not increased in 7 years, many states and localities have raised their own minimum wages. Chicago raised its local minimum wage to $10.00 in 2015. By 2019, the City is expected to have a minimum wage of $13.00, per an ordinance passed by the City Council. Continue reading “Illinois Needs a $10 Minimum Wage Just to Keep Up With Inflation”
Frank Manzo IV is the Policy Director of the Illinois Economic Policy Institute (ILEPI). Visit ILEPI at www.illinoisepi.org or follow ILEPI on Twitter @illinoisEPI. This is part of the “Frankonomics” series.
Illinois’ middle class is relatively strong in 93 of the state’s 102 counties, according to the Measure of America by the Social Science Research Council.
One of the many outcomes included in the Measure of America is the Gini coefficient for every county across America. Gini coefficients are the most commonly used measure of income inequality. The coefficient ranges from 0, which represents complete equality, to 1, which reflects complete inequality (i.e., one person has all the income).
For the United States, the national average Gini coefficient is 0.469. Fully 93 out of 102 counties in Illinois have a Gini coefficient below the national average.
Continue reading “93 Out of 102 Counties in Illinois Have Low Income Inequality”
Frank Manzo IV is the Policy Director of the Illinois Economic Policy Institute (ILEPI). Visit ILEPI at www.illinoisepi.org or follow ILEPI on Twitter @illinoisEPI. This post is part of the “Frankonomics” series. Governor Rauner gave the annual “State of the State” Address this … Continue reading The Private Sector Is NOT Doing Well Under Rauner
A new report released today by the Illinois Economic Policy Institute (ILEPI) finds that high corporate taxes are not deterring businesses from locating and operating in Illinois. In fact, the data shows that corporations locate in Illinois at a higher frequency than in … Continue reading The Data Show That Illinois Has a Competitive Business Climate
Frank Manzo IV is the Policy Director of the Illinois Economic Policy Institute (ILEPI). Visit ILEPI at www.illinoisepi.org or follow ILEPI on Twitter @illinoisEPI. This is the first post of the “Frankonomics” series. Want to work in Chicago? Your best bet may be … Continue reading Chicago Specializes in These Jobs
A new report by the Illinois Economic Policy Institute (ILEPI) investigates ten examples of how unions can– and do– increase economic efficiency: Union workers earn higher wages and increase consumer demand; Unions reduce socially inefficient levels of income inequality; Union … Continue reading Ten Examples of How Unions Can Increase Efficiency
Frank Manzo IV is the Policy Director of the Illinois Economic Policy Institute (ILEPI). Visit ILEPI at http://www.illinoisepi.org or follow ILEPI on Twitter @illinoisEPI. After our previous post was published, ILEPI received a few emails and tweets. ILEPI responded to … Continue reading An Addendum on Construction Unions and Worker Wages and Productivity
Frank Manzo IV is the Policy Director of the Illinois Economic Policy Institute (ILEPI). Visit ILEPI at http://www.illinoisepi.org or follow ILEPI on Twitter @illinoisEPI. Recently released data illustrates the strongly positive relationship between unionization and productivity in the construction industry. … Continue reading Unions Increase Productivity in the Construction Industry
The Illinois Update 