Economy Archive
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13 States Face Total Budget Shortfall of at Least $23 Billion in 2009; 11 Others Expect Budget Problems
December 18, 2007
For updated data on states facing budget gaps, please see: New Fiscal Year Brings No Relief From Unprecedented State Budget Problems Summary Thirteen states, including several of the nation’s largest, face a combined budget shortfall of at least $23 billion for fiscal 2009. Another 11 states expect budget problems next year or the year … -
Addressing Longstanding Gaps in Unemployment Insurance Coverage
Revised August 7, 2007
Unemployment Insurance (UI) is a joint federal-state program designed to provide temporary income support to workers who have a demonstrated attachment to the labor force and lose their jobs due to a lay-off or for other economic reasons, or who must leave their jobs through no fault of their own. (See the box below for an … -
Rainy Day Funds: Opportunities for Reform
April 16, 2007
States are in considerably better fiscal shape than they have been since 2001. State revenues have grown rapidly over the last few years, in marked contrast to the sluggish growth or declines in revenues between 2001 and 2004. This is good news. However, a return to budget deficits is inevitable at some point.… -
Share of National Income Going To Wages and Salaries at Record Low in 2006
Revised March 29, 2007
Commerce Department data released today show that the share of national income going to wages and salaries in 2006 was at its lowest level on record with data going back to 1929.[1] The share of national income captured by corporate profits, in contrast, was at its highest level on record.[2] These findings reflect weak overall growth in wages and salaries — and rapid growth in … -
A $7.25 Minimum Wage Would Be a Useful Step in Helping Working Families Escape Poverty
January 5, 2007
In the early 1990s there was basic agreement that parents working full time should not have to raise their children in poverty. While liberals and conservatives sometimes differed on the means to reach this goal, they agreed with the core principle. The yardstick used to measure achievement of this goal was whether a minimum-wage earner …
