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How to Raise Wages
Report

How to Raise Wages

Policies That Work and Policies That Don’t

Lawrence Mishel and Ross Eisenbrey
EPI, 2015
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Editorial Rating

8

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  • Hot Topic

Recommendation

Economists Lawrence Mishel and Ross Eisenbrey of the Economic Policy Institute note that wages in the United States have stagnated for years, even for college-educated workers, while productivity has soared. That’s probably the only point in this paper that will win agreement from fiscal conservatives. Much of the advice here – such as raise the minimum wage and offer paid leave, but skip the tax cuts – falls along partisan lines. Though always politically neutral, getAbstract recommends this report for the way it deftly limns critical wage and growth issues.

Take-Aways

  • Policy makers in the United States can encourage wage growth by aiming for full employment, defined as an unemployment rate of 4%.
  • The Federal Reserve should not raise interest rates until wage growth reaches 3.5% to 4%. Congress should enact job programs that address chronic unemployment.
  • Cutting taxes and signing free-trade deals will not create jobs or increase wages.

About the Authors

Lawrence Mishel and Ross Eisenbrey are president and VP of the Economic Policy Institute.

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