A softening labor market means there’s room for the US economy to grow further and narrow unemployment gaps. "With interest rates as high as they have been in 20 years, a [Fed] rate cut could create space for new activity to push unemployment rates down," says EPI's Kyle K. Moore. 🧵 3/3

The national unemployment rate rose to 4%, and the Black unemployment rate rose to 6.3%. Racial disparities in unemployment remained unchanged, with the national Black-white unemployment ratio still at 2:1 🧵 2/3

In Q2 of 2024, the labor market softened as unemployment rates increased across groups from the record-low rates achieved over the last year, according to our latest State Unemployment by Race and Ethnicity report: www.epi.org/indicators/s...#econsky#economics

2024 Q2 | State Unemployment by Race and Ethnicity

Softening, but strong, labor market; robust growth; persistent gaps across groups 2024 Q2 • Updated August 2024 The second quarter of 2024 saw slight softening in a strong labor market as unemployment...

The proposed rule would require employers to allocate time & areas for rest breaks and develop a heat injury & illness prevention plan, among other protections. This is a welcome policy effort to protect workers from the global climate crisis. ✊🏽 ✊🏿 ✊🏾 🌎 🍃 🧵2/2

It’s hot outside! ☀️🌡️🥵 To address this threat to worker safety, the Biden-Harris admin recently proposed “the first-ever federal regulation on heat stress in the workplace.” The rule would help protect millions and reduce heat-related injury & illness: www.epi.org/blog/propose... 🧵1/2

Proposed federal rule would protect workers from extreme heat

In the midst of record-breaking heat waves this summer, workers are facing the risk of heat-related injury, illness, and even death. In fact, heat has become the most prevalent lethal factor among all...

Prices for some goods have fallen over the past 2 years, with the biggest improvements in energy prices. Consumers will be paying 29% less for gas and 36% less for heating oil compared to prices in June 2022. Learn more on our blog: www.epi.org/blog/prices-...#economics#econsky

Prices have fallen in key sectors since inflation peaked in 2022

With the latest indicators showing consumer price inflation continues moderating from its June 2022 peak, prices for some goods have actually fallen over the past few years, according to underlying co...

Policymakers should prioritize providing workplace benefits and protections that offer employees REAL flexibility with REAL protections, including paid leave, scheduling fairness, and the strengthened ability to form and join unions: 🧵3/3 #Econsky#Economicswww.epi.org/publication/...

Flexible work: What workers, especially low-wage workers, really want and how best to provide it

Many workers, especially low-wage workers, aren’t getting key benefits they want—such as paid leave and predictable schedules—because lawmakers are letting companies and employers get away with anti-w...

But workers CAN have both flexibility AND decent pay & work conditions! Allowing companies to exploit workers like this harms gig economy, flexible, & part-time workers, who are predominately women and people of color. 🧵2/3

Don’t believe the lies gig work companies like Uber & Lyft are spreading! They say that to provide the flexibility workers want, they have to misclassify workers as independent contractors, which strips workers of protections like minimum wage & time off. 🧵1/3 www.epi.org/publication/...

Flexible work: What workers, especially low-wage workers, really want and how best to provide it

Many workers, especially low-wage workers, aren’t getting key benefits they want—such as paid leave and predictable schedules—because lawmakers are letting companies and employers get away with anti-w...

“Workers and families across the South deserve an economic model that centers and empowers [them],” says Childers. Southerners from all backgrounds will need to come together to demand policies that create a new economic development model. www.epi.org/publication/... 🧵3/3

Southern policymakers leave workers with lower wages and a fraying safety net: Rooted in Racism and Economic Exploitation: Part Three

For at least the last 40 years, pay and job quality for workers across the South has been inferior compared to other regions—thanks to the racist and anti-worker Southern economic development model.&n...