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PI Original
by Ellyn Fortino
1:20pm
Mon Oct 10, 2016

African Americans Make Less Than Whites At All Education Levels, Report Finds

New research from the Economic Policy Institute shows that African-American workers earn less than their white counterparts regardless of educational attainment. Progress Illinois looks at the report and gets reaction from the Chicago Urban League.

Quick Hit
by Ellyn Fortino
11:10am
Fri Aug 26, 2016

Millennials & Their Children Face Massive Economic Hit If Climate Change Goes Unchecked

Millennials and future generations will face staggering economic losses over their lifetimes due to climate change if current trends continue, according to a new report.

Demos and NextGen Climate sought to quantify the economic costs of climate change on millennials and their children.

Without significant climate change action, a 21-year-old college graduate from the class of 2015 with median earnings could lose more than $126,000 in lifetime income and $187,000 in wealth as a result of environmental problems, the report found. A 21-year-old with median earnings but no college degree stands to lose $100,000 in income and $142,000 in wealth over a lifetime.

For the entire millennial generation, the total loss of lifetime income due to climate change could hit nearly $8.8 trillion, the study showed.

"Climate change may very well be the biggest threat ever faced over the lifetime of a single generation, impacting the incomes, wealth and livelihoods of millions of millennials," NextGen Climate President Tom Steyer said in a statement. "We have a moral responsibility to act so that our children are not crushed by the costs of climate change."

Quick Hit
by Ellyn Fortino
1:48pm
Thu Aug 11, 2016

Chicago Urban League Unveils 10-Year Blueprint For Dismantling Structural Racism

The Chicago Urban League released a 10-year blueprint Wednesday to undo structural racism in the city and create more equitable education, employment and economic development systems for African-American residents living in the most disadvantaged communities.

Chicago Urban League officials released the plan as the organization commemorates its 100th anniversary.

"Our vision is that by 2026, residents of every community area in Chicago will have access to the services and supports they need not just to succeed, but to really thrive as members of the greater Chicago community," said Stephanie Schmitz Bechteler, vice president and executive director of the Chicago Urban League's Research and Policy Center.

"The league's 10-year plan is a focused effort that lays out our commitment to making racial equity a reality. When this happens, it sets the stage for a stronger African-American community and that, in turn, makes a stronger Chicago."

Quick Hit
by Ellyn Fortino
9:35am
Fri Jul 22, 2016

Top CEOs Made Less In 2015, But They Still Earned 276 Times More Than Average Worker

CEOs at America's largest firms received an average of $15.5 million in compensation last year, meaning they earned 276 times more than the typical worker in 2015, new research shows.

The $15.5 million in average CEO compensation was down about 5 percent from 2014, when the figure was $16.3 million, and up 46.5 percent since the economic recovery began in 2009, according to the Economic Policy Institute (EPI).

"Most (83 percent) of the decline in CEO pay from 2014 to 2015 can be explained by the drop in the value of realized stock options in that period," EPI's report reads. "Therefore the decline in compensation does not reflect any structural change in how CEO compensation is set or changes in corporate governance. CEO compensation will likely resume its upward trajectory when the stock market resumes upward movement."

PI Original
by Ellyn Fortino
5:56pm
Fri May 20, 2016

Illinois Has The Nation's Highest African-American Jobless Rate For Second Straight Quarter

New reports show a grim employment situation for African Americans living in Illinois.

Quick Hit
by Ellyn Fortino
12:41pm
Thu Sep 10, 2015

Minority, Low-Income Students Impacted The Most By College Debt, Report Shows

As the new school year gets underway, here are some troubling facts about student debt: minority and low-income students are borrowing at higher rates to attend college, and they're more likely to become indebted dropouts than their white and wealthier peers.

That's according to a recent report on college student borrowing by race and income from Demos, a progressive public policy organization. The research comes as the issues of college affordability and student debt emerge as hot campaign topics in the 2016 presidential race.

"While college is commonly regarded as a key tool to move up the economic ladder, we have created a system based almost entirely on acquiring debt to get ahead, with no regard to how it would impact different communities," report author and Demos senior policy analyst Mark Huelsman said in a statement. "This system is essentially pushing students of color and low-income students even farther down the ladder, adding an additional level of risk that previous generations did not take on when paying for college, and saddling them with additional disadvantages as they enter the workforce."

Quick Hit
by Ellyn Fortino
3:57pm
Thu Jun 18, 2015

Brighter Job Prospects Predicted For U.S. Teens This Summer

U.S. teens still face a pretty bleak employment landscape, but their job prospects are predicted to be a bit brighter this summer, according to a new study by the Center for Labor Markets and Policy at Drexel University.

The study estimates that the nationwide 2015 summer employment rate for teens ages 16 to 19 will be 29.8 percent. That would represent the highest teen summer employment rate since 2008, when the figure was 32.4 percent.

The predicted 2015 teen employment rate of 29.8 percent is up from 27 percent in the summer of 2014 and 26.7 percent in 2013.

PI Original
by Ellyn Fortino
7:14pm
Wed Mar 11, 2015

Report: 'Tax Fairness' Key To Solving Illinois Budget Crisis

Illinois could generate up to $8.6 billion in new revenue annually if it were to embrace "tax fairness," according to a new report by Good Jobs First and the Keystone Research Center.

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