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German Labor and Government Leaders Question Impact of On-Demand Economy on Quality of Working Life

The impact of the “on-demand” or “gig” economy on the quality of working life was the dominant theme in a recent visit to Washington, D.C., and Silicon Valley by German labor and government leaders.

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Work in the Future: What’s at Stake for Working People?

Work in the Future: What’s at Stake for Working People?

How are working people going to be affected by an economy focused around technology, automation and contingent work?

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Why the Fed Isn't Close to Achieving Full Employment and Shouldn’t Be Discussing Raising Interest Rates—The Case of Women

Why the Fed Isn't Close to Achieving Full Employment and Shouldn’t Be Discussing Raising Interest Rates—The Case of Women

The Federal Reserve Board’s Open Market Committee will be meeting in September. The Wall Street gamblers have been egging the Fed to change its current course and to start raising interest rates. Speculators have been trying to see if they can urge the Fed to “return to normal” with more interest rate movements at play. In part this will add another gaming table to play on, but some of them have been holding their positions in the invisible derivative markets on when interest rates will move again as the Fed unwinds its current high holdings of Treasury notes in reserve. They try to make arguments sounding as if they care about the state of the economy by conjuring the inflation boogey monster. With continued low and falling oil prices and stagnant real wages, they have instead begun to argue that interest rates need to go up, because it is only inevitable that at some time they must go up.

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Why the Fed Isn't Close to Achieving Full Employment and Shouldn’t Be Discussing Raising Interest Rates—the Case of Black Workers

Why the Fed Isn't Close to Achieving Full Employment and Shouldn’t Be Discussing Raising Interest Rates—the Case of Black Workers

The recently released minutes of the last meeting of the Federal Reserve Board’s Open Market Committee revealed there was serious discussion of the fact the labor market still showed signs of weakness. A primary issue was the lack of evidence of strong wage growth, which would be a clear signal the labor market was tightening. This has unleashed the Wall Street bettors, who want a jump on the Fed’s changing monetary policy, giving them more active play on the bond market, where interest rate movements can fuel their gambling addiction. The voices being raised to have the Fed raise interest rates march out lots of theory to predict uncontrolled inflation, despite a global slowdown, falling oil and natural resource prices, and flat real wages. We must hope that the Fed makes policy based on what is good for the economy, not what is good for the reckless gamblers on Wall Street.

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Economic News Roundup

The Economic Policy Institute (EPI) and Think Progress have released important research, news and commentary about the economy recently. Here's a look at some of the key facts they have uncovered about the U.S. economy.

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China’s Currency Devaluation Deepens Unfair Trade Practices

China’s Currency Devaluation Deepens Unfair Trade Practices

AFL-CIO President Richard Trumka made the following statement after China’s latest currency manipulation:

China’s recent currency devaluation—by nearly 4% on Tuesday and Wednesday—provides further confirmation that the failure to include enforceable currency disciplines in the Trans-Pacific Partnership leaves a gaping hole in U.S. trade policy.

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Robert Reich: What the Fed Is About to Do Will Affect Your Job and Your Income

In the latest collaborative video from the AFL-CIO and Robert Reich, the economist explains what the Federal Reserve is and how the next decision they make will affect your job and your income.

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July Jobs Report: Unemployment Steady, Wages Stagnant

The economy added 215,000 jobs in July and unemployment stayed unchanged from June's 5.3%, according to figures released this morning by the U.S. Bureau of Labor Statistics (BLS). The number of jobs added in May was revised upward from 254,000 to 260,00, and for June, the number was revised from 223,000 to 231,000.

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Inequality—'X' Marks the Spot—Dig Here

Figure 1. Something happened in the mid-70's

In 2002, I heard an economist characterizing this figure as containing a valuable economic insight. He wasn't sure what the insight was. I have my own answer.

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Social Security Report Delivers Reassuring News for Working Families

AFL-CIO President Richard Trumka released the following statement in response to the release of the 2015 Old-Age, Survivors and Disability Insurance (OASDI) Trustees Report.

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