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U.S. Poverty Jumps the Most in 60 Years
Of the various measures of the coronavirus pandemic’s comet strike on the U.S. economy, one especially reveals the size of the crater: Over a six-month period, nearly 8 million Americans have tumbled into poverty.
December 17, 2020
Video
Article
Women's Unemployment Crisis Revealed
The true unemployment rate for women isn't going down, as official statistics suggest. In fact, it's going up — at least according to the most recent analysis of official data from LISEP, the Ludwig Institute for Shared Economic Prosperity.
Axios
December 16, 2020
Video
Press Release
Fewer Living-Wage Jobs in U.S. Economy for November, Ludwig Institute Analysis Finds
More than a quarter of Americans desiring full-time work found themselves without a living-wage job in November, with women losing substantial ground in the workforce, according to a report released by the Ludwig Institute for Shared Economic Prosperity.
December 16, 2020
Video
Article
1 in 4 Americans Are Jobless or Earning Poverty-level Wages, New Study Finds
Official government figures show that unemployment around the U.S. has fallen sharply since peaking at nearly 15% in April as the coronavirus was shuttering businesses left and right. Yet the jobless rate as depicted in headlines offers a skewed picture of employment today, failing to capture the real financial pressure bearing down on millions of Americans, according to a new study.
CBS News
November 20, 2020
Video
Press Release
Ability of Americans to Find a Living-Wage Job Remains Stalled Over Past Month, According to Ludwig Institute Analysis
The opportunity for Americans to find a living wage job during the month of October remains stagnant in spite of improving unemployment data released by the U.S. Bureau of Labor Statistics, according to an analysis by the Ludwig Institute for Shared Economic Prosperity.
The Ludwig Institute for Shared Economic Prosperity
November 19, 2020
Video
Article
Trump or Biden’s Big Economic Challenge: Millions of Struggling Americans
The winner of the race for the White House will face a generation of low-to-middle income Americans struggling to get back to work because of a health crisis not seen in more than 100 years.
Reuters
October 28, 2020
Video
Podcast
Gene Ludwig’s Plan for Saving the American Dream
Former Comptroller of the Currency Gene Ludwig has written a book, The Vanishing American Dream, about the plight of middle- and low-income Americans.
American Banker
October 26, 2020
Video
Article
Exclusive: America’s True Unemployment Rate
A person who is looking for a full-time job that pays a living wage — but who can't find one — is unemployed. If you accept that definition, the true unemployment rate in the U.S. is a stunning 26.1%, according to an important new dataset shared exclusively with "Axios on HBO."
Axios
October 13, 2020
Video
Press Release
Ludwig Institute Launches New Economic Indicator; Shows True Rate of Unemployment More Than Three Times Government Reported Rate
A new economic indicator launched today by the Ludwig Institute for Shared Economic Prosperity reveals a True Rate of Unemployment of 26.1 percent for September, compared to the accurate but misleading 7.9 percent reported by the U.S Bureau of Labor Statistics.
The Ludwig Institute for Shared Economic Prosperity
October 13, 2020
Video
Op-Ed
US Regulators Should Prod Lenders to Help Minority Communities
Present markets will probably prompt lenders to serve wealthier individuals and bigger companies first, exacerbating inequality. Fortunately, regulators have within their grasp several tools to direct lending to the businesses and low-income families — including many minority communities — where it will do the most good.
Financial Times
October 11, 2020
Video
Press Release
Gene Ludwig to Release New Book Examining the Plight of Lower- and Middle-Income Americans
Gene Ludwig rose to become comptroller of the currency from a humble childhood in the once-thriving industrial city of York, Pa. In a groundbreaking book, The Vanishing American Dream, he brings academics, policymakers, and business leaders together to discuss why cities like York were struggling even before the coronavirus pandemic. During the good times, positive economic indicators — low unemployment rates and rising GDP — shrouded the heart-rending reality that, for much of the population, the American Dream has fallen farther out of reach. During an electric conference bringing experts from left, right, and center together at Yale Law School, luminaries from Larry Summers to Glenn Hubbard asked two fundamental questions: Why are so many lower- and middle-income families worse off than they were a generation earlier? And what can be done to set things straight?
The Ludwig Institute for Shared Economic Prosperity
September 22, 2020
Video
Op-Ed
How the Fed’s Rescue Program Is Worsening Inequality
Americans have been justifiably disturbed by stories of deep-pocketed corporations accepting loans from the Paycheck Protection Program designed to save small businesses and non-profits. But outrage over generous loans to well-heeled businesses is obscuring another troubling problem: The Federal Reserve’s efforts to preserve liquidity in the corporate debt market are, however inadvertently, sending wealth up the income scale, exacerbating inequality.
Politico
May 28, 2020
Video
Op-Ed
Rosy Economic Data Belies a Harsh Reality for Many Americans
To read the economic reports coming out of Washington, you might assume that the American economy is firing on all cylinders. But beneath this rosy picture is a much darker reality.
The Hill
May 15, 2019
Video
Op-Ed
Strong GDP and Jobs Numbers Don’t Tell the Whole Story about America's Economic Reality
GDP and unemployment numbers support the notion that times are good. They say our economic policy is sound, and the status quo is working. But a different picture emerges looking at the homeless people gathered by the Federal Reserve building in DC, or in visiting my hometown, York, Pennsylvania, where wages have stagnated and factories have closed. In reality, most Americans actually are poorer now than they were before.
CNBC
July 16, 2018
Video
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THE TRUE RATE OF UNEMPLOYMENT BY THE NUMBERS
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November 2020
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True Rate of Unemployment by State
August 2020
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