If the twin threats to public pensions continue, African American retirees may lose much of the retirement security they’ve gained over the past half-century.
Without protecting and expanding public pension systems, black retirees may lose much of the retirement security they have gained in the last 50 years, a new Demos report finds. The public sector has long been a strong source of employment for African Americans, with 21.2 percent of all black women and 15.4 percent of all black men working in the public sector.
In 2014, public pensions and Social Security together accounted for 57 percent of black retirees’ income compared to 49 percent for white retirees.
Nearly 9 out of 10 working New Yorkers do not receive paid leave from their employers.
The call for paid family leave in New York is steadily growing. Just this morning, Governor Cuomo amended his paid family leave proposal to increase the payment for some of the state's lowest paid workers, and at this very moment, New Yorkers are gathering in Albany to call for a family leave insurance system that covers working people statewide.
The Financial Infrastructure Exchange (FIX) is a federal tax-and-subsidy program to promote long-term investment in a financial system that otherwise prioritizes short-term gains.
Walmart's raises to $9 an hour in 2015 and then to $10 an hour in 2016 is a positive step forward, but it still falls short of giving workers the wages they need.
The fast food industry is the main driver of compensation inequality in the most disparate sector of the economy, with a CEO-to-worker pay ratio in 2013 of over 1000-to-1.
Demos and coalition partners have reached an agreement with the City Council and de Blasio administration to send a bill banning the use of employment credit checks to the City Council floor. In response, President Heather McGhee issued the following statement:
“We are pleased to see progress made in the fight for equal opportunity employment in New York City. Employment credit checks are a catch-22, preventing qualified workers from getting a job just when they really need one most. The biggest drivers of credit problems are job loss and medical emergencies.
Following the announcement that McDonald’s Corporation plans to raise wages by more than 10 percent for 90,000 employees, Demos Senior Policy Analyst Catherine Ruetschlin issued the following statement:
McDonald’s workers deserve this raise and much more.
(New York, NY) – Earlier this week, President Obama directed the Department of Labor to begin the rulemaking process for a fiduciary rule, a new regulation that would require financial advisors and brokers to act in the best interest of people saving for retirement. In the new explainer Why the Fiduciary Rule Matters, Demos Senior Policy Analyst Robert Hiltonsmith finds that this new regulation could save Americans nearly $25 billion from lower fees and translate into an additional $60 billion in returns.
In response to Walmart's announcement to raise the wage for 500,000 employees, Demos Senior Policy Analyst Catherine Ruetschlin issued the following statement:
New York, NY — Last night, provisions were added to the House of Representatives' 2015 omnibus spending bill which would repeal crucial features of the Dodd-Frank Act.
In response, Demos Senior Fellow Wallace Turbeville issued the following statement: