The March on Washington, where Dr. Martin Luther King delivered his “I Have a Dream” speech, was formally named the March on Washington for Jobs and Freedom. Dr. King later organized the Poor People’s Campaign as a multi-racial movement for economic justice, which advocated for living wages, income support for the unemployed, improved funding for education, the right to unionize for agricultural workers and access to land and capital. Dr. King’s legacy includes his efforts to secure both civil rights and economic justice.
For several months, the president had been selling the legislation on the claim that the tax cuts would “be rocket fuel for our economy.” His claim was critical to defending against the criticism that most of the tax cuts would go to corporations and the very wealthy—supposedly, the money would ‘trickle down’ to the middle class. Unfortunately, nearly two years of evidence show that his administration's estimates were wildly wrong.
Economists long have thought that the economy is at “full employment” at a rate of around five percent. Below that, employers would be forced to pay higher wages to attract and retain workers, which in turn would compel them to raise prices, sparking inflation. The theoretical trade-off between unemployment and inflation is what is known as the Phillips Curve.
However, while the current unemployment rate is extremely low at 3.6 percent, inflation remains below the Federal Reserve’s two percent target. Wages have risen, but below expectations. For this reason, some suggest that the Phillips Curve no longer applies.
Oct 21 2019
The problem is getting worse. According to data from the Centers for Disease Control and Prevention (CDC), the age-adjusted rate of suicide in the United States rose by about 30 percent in the last two decades, with increases for almost every age group. The suicide rate has increased every year for the past decade.
Almost 60 million Latinos live in the United States, making up approximately 18 percent of the population. It is estimated that by 2060 approximately one in four people living in the United States will be Latino or of Hispanic heritage.
More than half of the Hispanic population lives in just five states—California, Texas, Florida, New York and Arizona—and more than 90 percent of all Hispanics live in metropolitan areas. However, those patterns are changing; there are now almost as many Hispanics in the South as in the West. States in other parts of the country, as well as some small cities and towns, also are experiencing rapidly growing Hispanic populations.
Approximately two-thirds of American Latinos were born in the United States. Twenty-two percent of Latinos are non-citizens and 13 percent are foreign-born individuals who have become American citizens. Latino immigrants have an important role to play in the U.S. economy. However, they tend to be less educated and earn less than the native-born population. Their children will be more likely than their parents to earn a higher education and achieve economic success.
Overall, Hispanics will take on an increasingly important role in the U.S. economy, which requires a growing number of workers to expand at a rate necessary to sustain general prosperity. Hispanics may play an outsized role because they are more likely than non-Hispanics to be working or seeking work and they are significantly more likely to be entrepreneurs.