More than 62 million Hispanic Americans live in the US and they create over $2 trillion in economic output each year.
Despite these important contributions, #HispanicWorkers are overrepresented in low-wage jobs with poor working conditions.
Hispanic Americans are vital to the U.S. economy and helped keep it afloat in the worst of the pandemic.
#HispanicWorkers are overrepresented in essential and frontline industries and many risked their lives during the pandemic, securing America’s food supply and providing care.
Despite being hit hard by the pandemic and ensuing economic contraction, #HispanicWorkers have returned to work at a faster rate than others, helping to fuel the recovery .
This trend is not uniformly positive—Labor market marginalization and pervasive discrimination have led to #HispanicWorkers on average having less access than white workers to wealth, unemployment insurance and other support to weather economic shocks.
#HispanicWorkers are overrepresented in low-wage occupations. They face gaps in earnings and poor working conditions.
This is largely due to the lack of bargaining power faced by Hispanic workers who are less likely than other racial and ethnic groups to be protected by unions.
Policies that invest in infrastructure and families, reform immigration, raise wages and strengthen unions will help to #BuildBackBetter for #HispanicWorkers and create a more equitable economy.
The failure of the U.S. government to increase the federal minimum wage to keep pace with or exceed inflation has left many American families without a path to the middle class.
Check out part one of three @JECDems issue briefs on the eroding value of the minimum wage here ⤵️
Some key points from the first installment 👇
A full-time worker making the minimum wage today lives in poverty—earning just $15,000 annually, a drop of more than $6,000 when compared to more than 50 years ago.
The federal minimum wage in 1968 was $1.60 per hour – the equivalent of just over $10 per hour today. Yet the current federal minimum wage is $7.25.
(1/) At the president’s #SOTU address, we should be prepared for a torrent of false or misleading statements on every issue. Some of his key claims about the economy are in this tweet, which packs a lot of misinformation into less than 250 characters.
(2/) The Washington Post’s Fact Checker has found that Donald Trump has made more than 1,500 false or misleading claims about the economy since he became president. We should expect more of the same at the #SOTU washingtonpost.com/graphics/polit…
(3/) The president’s primary deception about the economy is to claim that he inherited a “dismal” economy from Barack Obama, and he turned it around. This is false—the economy was already strong when he became president—and it was trending even stronger.
(1/12) President Trump says he inherited an economic “disaster” from President Obama and that he “accomplished an economic turnaround of historic proportions.”
He’s very wrong, and in this thread we’ll show why.
(2/12) It was Pres. Obama who inherited (from Bush) a disaster, & along with congressional Democrats took action that stopped the bleeding and led to growth.
He handed Trump a solid economy, with GDP rising at 2% & unemployment down by more than half from the Recession peak.
(3/12) According to Greg Mankiw, chairman of the Council of Economic Advisers under President George W. Bush:
It’s time we break down the myth (promoted by Trump) and reality behind GOP tax cuts, which became law almost two years ago today. As Vice Chair @RepMaloney noted, “Americans would be right to feel cheated” by the tax law. This thread shows why. (1/7) jec.senate.gov/public/index.c…
TRUMP MYTH: Tax cuts would boost GDP growth to as high as 6% annually.
REALITY: In the seven quarters since the tax cuts became law, GDP growth has been the same as in the seven prior quarters—roughly 2.5%. #2YearsOfTCJA (2/7)
TRUMP MYTH: Tax cuts would spur massive growth in business investment.
REALITY: Business investment has decelerated since the tax cuts became law, even contracting in the past two quarters. #GOPTaxScam (3/7)
(1/10) The White House and congressional Republicans claim that personal income growth has nearly doubled under Trump. As usual, they are fudging the numbers. #FactsMatter
(2/10) To start, @WhiteHouseCEA looks at growth over the prior year. So when it starts counting from inauguration, Trump’s numbers include gains from before his time in office. In effect, Republicans are taking credit for some of Obama’s achievements.
(3/10) Further, the focus on average growth is a misleading way to measure middle-class income, considering the wealthy skew data higher. We should focus on median income, which looks at Americans in the middle of the income distribution—“typical” households. This is Econ 101.