Center for Economic and Policy Research

Black Middle Class in Crosshairs Under Trump Plan to Destroy 50,000 Federal Jobs

Center for Economic and Policy Research sent this email to their subscribers on May 3, 2024.

CEPR News May 2, 2024

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CEPR News May 2, 2024 alt_text CEPR NEWS FOR MAY 3, 2024 NEW REPORT PAINTS BLEAK FUTURE FOR FEDERAL JOBS, A HAVEN FOR BLACK WORKERS, UNDER TRUMP’S PROJECT 2025 TEXT GEORGIA TO 88022 LAY MAKE AMERICA GREAT AGAIN! 2024 A good government job was and still is a haven for Black Americans seeking entry into the middle class. That could change drastically if Trump and the MAGA-conservative Project 2025 take charge. CEPR’s Algernon Austin tallies up the possible destruction in a report released last week. Project 2025 plans to reclassify federal workers, making it possible to fire and replace 50,000 federal workers, putting nearly 8,000 Black middle-class jobs at risk in the DC area. - Have you been forwarded this email? If so, welcome to the CEPR News! Please sign up here. CEPR News fans, help us reach new readers by spreading the word! - “THE REFERENDUM QUESTION ON ISDS COULD - AND PEHAPS SHOULD - BE SEEN AS PART OF A BIGGER PLEBISCITE ON THE NOBOA GOVERNMENT'S PRIORITIES.” CEPR’s latest Ecuador News Round-Up looks at the results of the April 21 referendum, which secured voters’ approval of President Noboa’s proposed security measures but marked a setback to his neoliberal economic agenda. The political fallout includes strained relationships with progressive sectors and the Indigenous community, as well as international isolation due to the April 5 raid of Mexico’s embassy. Noboa plans to leverage his security-focused agenda to bolster his bid for reelection in 2025 though the implementation of  the measures approved in the referendum will face challenges from a divided legislature. Pedro Labayen Herrera also looks at new spikes in violence in Ecuador following the formal end of the state of emergency; the return of energy rationing; the latest developments in the festering diplomatic crisis with Mexico;  the collapse of Noboa’s alliance with the progressive RC party; the back story to Jorge Glas’s case; and Ecuador’s role in blocking permanent UN statehood membership for Palestine. Ahead of the referendum, Labayen Herrera and Guillaume Long wrote an op-ed examining the implications of Question D, which proposed returning to investor-state dispute settlement (ISDS). This would have allowed corporations to again sue the Ecuadorian government over regulations perceived to have hurt future corporate profits. ⸻ In CEPR’s latest report, Lara Merling, Ivana Vasic-Lalovic, Lorena Valle Cuéllar, and Angelica Huerta Ojeda of the G-24 argue that external debt burdens in nearly 80 countries are impeding global efforts to combat the climate crisis. Escalating debt servicing costs, exacerbated by the IMF’s surcharge policy, force nations to prioritize debt repayment over investments in climate resilience, perpetuating a cycle of vulnerability. To break this cycle, the authors suggest solutions such as a sovereign debt restructuring mechanism, sustainable financing sources, and a new substantial allocation of Special Drawing Rights. ⸻ In the latest Sanctions Watch bulletin, Pedro Labayen Herrera and Michael Galant cover the International Crisis Group calling for negotiations with the Taliban in Afghanistan, where 15 million individuals are facing food insecurity; US and Cuban officials meeting in Washington to discuss cooperation on migration; the Biden administration’s new sanctions on Iran after Iran’s retaliatory strike on Israel; the US and Russia’s competing visions for monitoring sanctions on North Korea; the US moving closer to seizing frozen Russian assets; Congress moving to sanction individuals involved in the Captagon trade, with a focus on Syria’s Assad; Biden allowing Venezuela sanctions licenses to expire; the UN Human Rights Council condemning unilateral sanctions as illegal and a threat to human rights; and more. - Know someone who would want to work at what The Washington Post calls one “of the most prominent think tanks on the left?” CEPR has an opening for a for a Domestic Program Communications Director. See details and how to apply here. - “JUST AS WE’VE INVESTED IN MAKING OUR WATER SAFE TO DRINK, IT’S TIME TO ENSURE OUR INDOOR AIR IS SAFE TO BREATHE” Indoor air quality is finally getting some attention as an important public health concern. CEPR’s Hayley Brown is paying attention by authoring the first in a series of ongoing research reports focused on the issue. The series starts with a primer that summarizes how indoor air quality matters for public health and worker safety, economic progress, disability rights, climate change adaptation and resilience, and equity. ⸻ Workers received some good news when the Federal Trade Commission voted to ban noncompete clauses last week. These are employment agreements to prevent workers from leaving to work for a competitor or start their own competing business. “The effect of noncompete clauses is to reduce the wages of workers affected by them....they are a big deal in determining wages and the distribution of income,” writes Dean Baker in his article. ⸻ The rebound of jobs after the pandemic has been remarkable, but a new report by CEPR’s Alex Richwine and Dean Baker shows which job sectors lead the way. “Nearly every major sector of the labor market has more than recovered the jobs lost during the pandemic,” said Richwine. ⸻ Friday’s jobs report is a “cause for celebration” because the April unemployment number is again below 4.0 percent, tying, “…the streak of 27 consecutive months of below 4.0 percent unemployment at the end of the 1960s,” according to Dean Baker. ⸻ Last week’s GDP data showed some concerns about inflation, amid strong growth. “We are seeing a reversal of the good inflation news from 2023. It’s not clear whether this is an ongoing trend or simply a bounce back from better-than-trend numbers in 2023,” wrote Dean Baker in his analysis. - CEPR IN THE NEWS The New York Review of Books, quoting Jake Johnston, Haiti on the Precipice Business Insider, quoting Eileen Appelbaum, The fishy death of Red Lobster The Huntsville Item, quoting Mark Weisbrot, Israelis push US into wider conflict The Hill, quoting Dean Baker, Could interest rate hikes be keeping inflation high? France24, interviewing Guillaume Long, By any means necessary? Ecuador's new president and the fight against drug gangs Nation News, quoting Ivana Vasic-Lalovic, Michael Galant, and Francisco Amsler, Extra fees for IMF - BEAT THE PRESS  to Dean Baker's commentary on economic reporting on Patreon to support Dean's work and for early access to special content. Or, sign up for a weekly email roundup of Beat the Press. It's the publication that everyone’s raving about! New York Magazine: “[Beat the Press] aims a critical but judicious eye at economics reporting.” - If you were forwarded this email, welcome to the CEPR News! Please sign up here. CEPR News fans, help us reach new readers by spreading the word! - alt_text SUPPORT CEPR If you value CEPR’s work, support us by making a financial contribution.     Donate     The Center for Economic and Policy Research (CEPR) is an independent, nonpartisan think tank that was established to promote democratic debate on the most important economic and social issues that affect people's lives. CEPR was co-founded by economists Dean Baker and Mark Weisbrot in 1999. CEPR's Advisory Board includes Nobel Laureate economists Robert Solow and Joseph Stiglitz; Janet Gornick, Professor at the CUNY Graduate Center and Director of the Luxembourg Income Study; and Richard Freeman, Professor of Economics at Harvard University. 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