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Category: Economy

40 Hours a Week for $2.13 an Hour

by Saru Jayaraman | Sep 18, 2013 | Economy

(Source: CNNMoney) As the fast food workers’ minimum wage campaign gains momentum, another group of workers is expanding the fight to address one of the least-known economic outrages. You may not realize it, but the measly $7.25 an hour McDonald’s and other fast-food giants pay their workers is three times higher than what many large […]

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5 Graphs Show Why New York City Is Home to the Working Poor

by Nell Abernathy | Sep 17, 2013 | Economy

What is behind this big shift toward income inequality in New York? Income trends in the city represent an amplified version of our national problems: low-wage jobs without benefits are replacing middle-wage jobs that could support families. Nationwide, middle-wage jobs constituted 60 percent of the jobs lost during the Great Recession and only 22 percent […]

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At the Top, a Recovery Completed

by Sam Pizzigati | Sep 16, 2013 | Economy

(Source: Too Much) The future just keeps getting brighter for Americans with unique specialties. Randy Stearns has one such specialty: “home-tech integration.” Stearns helps people install and maintain high-tech gadgets. But we’re not talking “geek squad” and hooking up home networks here. We’re talking rich people—and electronic toys that can cost more than houses. This […]

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‘Tech’ Is Misnomer for Internet Giants

by Darwin Bondgraham | Sep 16, 2013 | Economy, Media

(New “Mad Men” Sergey Brin and Larry Page | Source: Creative Commons) The British humorist Douglas Adams once summed up the trajectory of computers and the internet in four teleological sentences: “First, we thought the PC was a calculator. Then we found out how to turn numbers into letters with ASCII—and we thought it was […]

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Who Loses When CEO Pay Soars? Not Stockholders

by Alejandro Reuss | Sep 13, 2013 | Economy

The news of Steve Ballmer’s planned retirement next year, announced last month, brought the Microsoft CEO’s critics out of the woodwork. He was widely skewered as the beneficiary of “the luckiest dorm-room assignment in history”—down the hall from Bill Gates when both were Harvard undergrads. Vanity Fair business writer Kurt Eichenwald called Ballmer’s watch at […]

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