**Your patience is greatly appreciated while our page is under construction. We are working to provide you with more updated relevant information in a better accessible format.**
By any measure, the U.S. economy is massive. Like the sea, our economy is swept by cross currents and changed by forces beyond its control. Yet, its sheer size means that those forces - increased productivity, rising unemployment, dropping interest rates, global competition -- may only be felt months and often years after they are first sighted. Economic Trends tries to track those forces so IAM members can prepare their families for what lies just over the horizon ...
Links to Information on Economic Trends and Issues Affecting IAM Members Everyday
|Strategic Resources Weekly Report (Coming Soon)|
|From the US Department of Labor's Bureau of Labor & Statistics|
|Economic Facts and Figures: Monthly stats on employment, earnings, trade, prices and more. (DOL, BLS)|
|From the AFL-CIO|
AFL-CIO Quick Takes on the Jobs Reports: From the AFL-CIO Press Room
AFL-CIO General Press Releases on Current Topics: More from the AFL-CIO Press Room
Get the Facts: Trans-Pacific Partnership Free Trade Agreement (AFL-CIO, 2014)
|From the Center for American Progress|
Keep Calm and Muddle Through Ignoring the Retirement Crisis Leaves Middle-Class Americans with Little Economic Control in Their Golden Years: Retirement Crisis Report. (August 2014)
How the Government Subsidizes Wealth Inequality: Renowned French economist Thomas Piketty’s Capital in the Twenty-First Century thoroughly documents how those at the very top of the income distribution are pulling away from the rest of us. (June 25, 2014)
Unions Make Democracy Work for the Middle Class:
|From the Center for Economic Policy Research|
Making Jobs Good: This report by John Schmitt and Janelle Jones, evaluates the likely impact of several policies that seek to address job quality, including universal health insurance, a universal retirement system (over and above Social Security), a large increase in college attainment, a large increase in unionization, and gender pay equity. (CEPR, 4/2013)
The Chained CPI: A Painful Cut in Social Security Benefits and a Stealth Tax Hike: A report by Alan Barber and Nicole Woo (CEPR, 12/2012)
Protecting Fundemental Labor Rights: Lessons from Canada for the United States: A report by Kris Warner. (CEPR, 8/2012)
Where Have Good Jobs Gone?: A study that links the decline in "good jobs" with deterioration of worker bargaining power. (8/2012)
|From the Center on Budget & Policy Priorities|
|From the Economic Policy Institute|
Raising the Federal Minimum Wage to $10.10 Would Save Safety Net Programs Billions and Help Ensure Businesses Are Doing Their Fair Share: More than five years have passed since the federal minimum wage was raised to its current level of $7.25 per hour.
CEO Pay Continues to Rise as Typical Workers Are Paid Less: The 1980s, 1990s, and 2000s were prosperous times for top U.S. executives, especially relative to other wage earners and even relative to other very high wage earners. (June 12, 2014)
Economic Indicators: Timely analysis of economic trends affecting IAM members.
The State of Working America: An ongoing analysis published since 1988 by the Economic Policy Institute. Includes a wide variety of data on family incomes, wages, jobs, unemployment, wealth, and poverty that allow for a clear, unbiased understanding of the economy's effect on the living standards of working Americans.
Raising America's Pay - 2014 Report: Why It's Our Central Economic Policy Challenge: This report is the first in a series from Raising America’s Pay, a multiyear research and public education initiative of the Economic Policy Institute to make wage growth an urgent national policy priority. Raising America’s Pay identifies broad-based wage growth as the central economic challenge of our time—essential to alleviating inequality, expanding the middle class, reducing poverty, generating shared prosperity, and sustaining economic growth. epi.org/pay (EPI, 6/4/2014)
The Top 1 Percent’s Share of Income from Wealth Has Been Rising for Decades: Economic Snapshot on Inequality and Poverty. Article by Josh Bivens (EPI, 4/23/2014)
|From the Washington Center for Equitable Growth|
The Economic Costs of Debt-Ceiling Brinkmanship Report by the Joint Economic Committee ofthe United States Congress (9/2013)
My Congresssional District Search Tool: Gives you quick and easy access to selected statistics collected by the U.S. Census Bureau through the American Community Survey which provides updated detailed demographic, social and economic statistics every year for the nation’s communities.
The U.S. Department of the Treasury
The Potential Macroeconomic Effect of Debt Ceiling Brinkmanship (US Dept. of Treasury, 10/2013)
Additional Publications with Reports, Articles and Helpful Information by Topic
The Economic Policy Institute Blog: Working Economics-EPI's experts opine daily on a wide range of current economic issues.
The Upshot: Explaining the Science of Everyday Life (The New York Times)
WONKBLOG (The Washington Post)
Economic Trends and Forecasts
The Manufacturers Alliance for Productivity and Innovation (MAPI) Quarterly Economic Forecast: This Quarter's headline - "Moderate Growth From A Deep Recession" (12/2013)
The Manufacturers Alliance for Productivity and Innovation (MAPI) Quarterly Economic Forecast: This Quarter's headline - "Sluggish Pace, Volatility, Optimism" (6/2013)
Good News on The Labor Market Front! Unemployment to Steadily Drop Over Next Six Months: "Unemployment should decline by more than 0.1 percent per month over the next six months and to fall below 6.5 percent—the Fed's unemployment threshold—by February 2014." A Brookings Blog Post by Regis Barnichon that discusses a monthly update of the Barnichon-Nekarda model. (Barnichon and Nekarda developed a model to forecast unemployment based on labor force flows—the number of workers moving into and out of unemployment each month.) (Brookings Papers on Economic Activity, 11/2013)
Data Brief - The Low Wage Recovery: Industry Employment and Wages Four Years into the Recovery, 2014 Report: (NELP, 4/2014)
Where Poor and Uninsured Americans Live: "The 26 Republican-dominated states not participating in an expansion of Medicaid are home to a disproportionate share of the nation’s poorest uninsured residents. Eight million will be stranded without insurance" (The New York Times, 10/2013)
Prosperity Economics: Building an Economy for All: A report in which the authors, Jacob S. Hacker (Director of ISPS) and Nate Loewentheil (Yale), lay out an alternative to austerity economics, one based on our history, the successful experiences of other nations, and recent currents of research and theoryin economics and allied fields called. They call this model "prosperity economics." (8/2012)
Closing the Jobs Gap: Each month, The Hamilton Project examines the “jobs gap,” which is the number of jobs that the U.S. economy needs to create in order to return to pre-recession employment levels while also absorbing the people who enter the labor force each month.
Manufacturing Low Pay: Declining Wages in the Jobs That Built America's Middle Class (12/2014)
Manufacturing jobs were once a ticket to the American middle class, but today these jobs are adding to the nation’s low-wage crisis. NELP’s latest report, Manufacturing Low Pay: Declining Wages in the Jobs That Built America’s Middle Class, tells the story of a rebounding manufacturing sector where jobs are growing again but wages are rapidly shrinking.
Manufacturing workers used to earn wages well above the U.S. average. In the mid-1980s, they earned 50 percent more than the average private-sector worker, but by 2013, they were earning 7.7 percent less. Today, one in four manufacturing workers is paid less than $11.91 per hour. The wage declines are exacerbated by manufacturing firms’ increasing reliance on staffing and “temp” agencies to fill factory jobs.
Read more about NELP’s report in The New York Times.
Pension Retirement & Security Issues (under construction)
Right to Work (for less)
FREE-RIDER STATES: How Low-Wage Employment in "Right-to-Work" States Is Subsidized by the Economic Benefits of Collective Bargaining (08/28/2014)
Right to Work: A Failed Policy (2/2012)
What 'Right-to-Work' Means for Indiana's Workers - A Pay Cut: An article that looks at what happens in states with this anti-worker legislation. (1/2012)
Working Hard to Make Indiana Look Bad: The Tortured, Uphill Case for 'Right-to-Work': A report that looks at the lies in a study used to support this anti-worker legislation. (1/2011)