Daily Archives: September 7, 2021

2021-09-07: News Headlines

WSWS (2021-09-07). US ruling class cuts off pandemic jobless aid, pushing millions over financial cliff. wsws.org The termination of federal unemployment benefits, supported by the White House and Congress, is aimed at beating back the growing movement by workers against low wages.

_____ (2021-09-06). 'Happy Labor Day Everyone!': Millions Lose Unemployment Aid on Worker Holiday. commondreams.org "The greatest threat to global public health is the continued failure of world leaders to keep the global temperature rise below 1.5 ∞C and to restore nature," warn journals in unprecedented joint editorial.

_____ (2021-09-06). The Productivity—Pay Gap Has Been Growing Since 1979. popularresistance.org The growth of inequalities is the central driver of the widening gap between the hourly compensation of a typical (median) worker and productivity—the income generated per hour of work—in recent decades. Specifically, this growing divergence has been driven by the growth of two distinct dimensions of inequality: the surge of compensation received by the top 10%—particularly the top 1.0% and top 0.1%—and the erosion of labor's share of income and the corresponding growth of capital's share.

Dean Baker (2021-09-06). New York Time Says Republican Critics of Biden Package Are Worried it Will Lead to Lower Unemployment. cepr.net It seems a strange concern, but I suppose it's what we would expect from a political party that is determined to block every effort to contain the pandemic. According to a NYT article on opposition to President Biden's plan to increase spending on various social program by $3.5 billion (1.3 percent of GDP) over the …

Dean Baker (2021-09-06). Why August Wasn't a Terrible Month for Jobs. counterpunch.org The August job gains were somewhat weaker than expected; although it is not clear that it should be viewed as a seriously negative report. The 235,000 figure is less than half of what most forecasters had been predicting, but it was still associated with a 0.2 percentage point drop in the unemployment rate to 5.2

_____ (2021-09-06). Warnings of Trump-Like Insurrection Ahead of Bolsonaro Rallies in Brazil. commondreams.org The bottom line is that the multi-trillion-dollar price tag of the Democrat's reconciliation plan is affordable, even modest, compared with the nation's vast income and wealth. The rich and the corporations need to be called to account.

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