|Monterey Bay Central Labor Council|
A new report from researchers from the International Monetary Fund (IMF) finds that not only is rising inequality a drag on economic growth, but that policies designed to lessen inequality through a moderate level of redistribution do not slow growth. While the report is clear in stating it isn't the official opinion or policy of the IMF, researchers Jonathan D. Ostry, Andrew Berg and Charalambos G. Tsangarides make a compelling case that austerity policies are bad for economic growth and that it isn't just morally sound to reduce income inequality, it's the economically wise choice, too. While countries have pursued policies focused heavily on deficit reduction and lower government spending, the new report suggests those legislative priorities may be the wrong approach to economic growth, joining a growing chorus of evidence from economic analysts that is pushing for a move away from austerity. Read more >>>
The economy added 175,000 jobs in February—62,000 more than the January job gain but still far below what is needed for recovery—and the nation’s unemployment rate was nearly unchanged at 6.7%, compared with January’s 6.6%, according to figures released this morning by the U.S. Bureau of Labor Statistics. The number of long-term unemployed people (those jobless for 27 weeks or more) rose by 203,000, increasing the number of long-term jobless workers to 3.8 million. Read more >>>
Last year, Denise Imundo’s husband had surgery on his neck that forced him out of the job market. He went four months without work, and although he was eligible to receive disability payments, they only covered one-third of his salary. And when the holidays approached, finances were getting tight.
But instead of racking up debt, the couple’s Union Plus Credit Card offers special assistance for eligible cardholders. Read more>>>
Background: In collaboration with Communities Organized for Relational Power in Action (COPA), the Monterey Bay Central Labor Council (MBCLC) wrote and submitted a grant application to lead an organizing campaign to educate the general public about healthcare opportunities. The application was approved by the County of Santa Cruz. The MBCLC is now in the position to begin the work. While the focus of the work will be the Covered California insurance exchange, the MBCLC is able to continue outreaching for VIACARE and the Medi-Cal expansion to low income community residents, and engage in research about healthcare for undocumented workers. Read more >>>
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