A law equal pay law in Colorado is costing residents remote work opportunities

Excerpt:

Colorado’s Equal Pay for Equal Work Act — a set of laws aimed at ending wage discrimination, especially for women and minorities —  went into effect earlier this year.

But instead of adhering to the legislation, some companies have decided to exclude Colorado-based remote employees in job listings.

Why?

The act specifies that employers hiring in Colorado must include an expected salary range and benefits in job posts. Some reports claim that companies don’t want to reveal their cards.

…..

Even if these rules are a good idea, they demand new systems and processes for any business hiring in Colorado. Many are balking, so it’s looking like a “cobra effect” law: when a well-intentioned rule backfires.

Author(s): Ethan Brooks

Publication Date: 29 June 2021

Publication Site: The Hustle

India Has Undercounted Covid-19 Deaths by Hundreds of Thousands, Families and Experts Say

Link: https://www.wsj.com/articles/india-has-undercounted-covid-19-deaths-by-hundreds-of-thousands-families-and-experts-say-11624795202

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Excerpt:

India has officially recorded more than 390,000 coronavirus deaths, but families who have lost loved ones, health experts and statisticians say that vastly undercounts the true toll. Families like Mrs. Singh’s have been left struggling to get compensation that some states have set up for Covid-19 victims.

India’s undercount has also left a huge gap in the world’s understanding of the impact of the Delta variant, which health experts believe helped drive one of the world’s worst Covid-19 surges in April and May. India was the first to detect the highly infectious variant, which has hopscotched around the world. It is fueling a surge in the U.K., and is expected to become the dominant variant in the U.S.

The undercounting of infections and deaths is a problem world-wide, even in countries with widespread testing. The World Health Organization said last month that the global Covid-19 death toll could be two or three times the official number. The problem, however, is particularly acute in the developing world, where access to healthcare and coronavirus testing is often more limited.

…..
To qualify for its Covid-19 compensation payment of 400,000 rupees, equivalent to about $5,400, the state requires a report from a certified lab, which at the time were taking days to process.The family got a test strip from the lab indicating that Mrs. Singh was positive and rushed to a doctor.
……
Health experts say many Covid-19 deaths have gone uncounted among India’s vast population of rural poor, who have little access to healthcare or Covid-19 testing.

Mr. Banaji, the mathematician, says the central government has tended to praise states with low death counts and castigate those with higher counts as incompetent. “This narrative of success and failure centered on fatality numbers is very dangerous,” he said.

Author(s): Shan Li, Suryatapa Bhattacharya, Vibhuti Agarwal

Publication Date: 17 June 2021

Publication Site: WSJ

Impact of COVID-19 on Actuarial Careers: Highlights Report

Link: https://www.soa.org/resources/research-reports/2021/covid-19-highlights/

Report link: https://www.soa.org/globalassets/assets/files/resources/research-report/2021/covid-19-highlights.pdf

Graphic:

Excerpt:

Working from home was a significant change for most actuaries. While some are looking forward to
returning to work in the office, few would like to return to working in the office most or all of the time.
After COVID-19 restrictions are fully lifted, approximately 65% of full-time respondents would prefer to
work from home at least 3 days per week: 28% would prefer to work from home three days per week, 23%
would like to work from home every day, and 14% would prefer to work from home 4 days per week.

In general, respondents who identify as women have a slight preference to work from home more
frequently than do respondents who identify as men.

Author(s): SOA

Publication Date: June 2021

Publication Site: Society of Actuaries

What’s Keeping Women Out of the Workforce?

Link: https://www.city-journal.org/government-policies-keeping-women-out-of-workforce

Excerpt:

Since last winter, 1.8 million women have left the labor force entirely—neither working nor looking for work. At first, closed schools and the high cost of child-care options seemed responsible. But economists who have crunched the numbers argue that closed schools can’t explain higher female unemployment. Women with young children make up only 12 percent of the labor force and were only slightly more likely to leave the labor force than were women without young children. The exception? Women with young children who don’t hold college degrees—they constitute only 6 percent of the labor force but saw the biggest drop in employment. Their employment rate has fallen by almost eight percentage points since the pandemic started.

This suggests that women aren’t working for various reasons. For most families, several factors—child-care options, how much a given job will pay, and their partner’s employment prospects—determine whether they will decide to return to work. Rarely in economics does a single cause explain a phenomenon; policies often affect behavior on the margins. If you’re struggling to find good, affordable child care and you are being paid more to stay at home, that extra factor can tip the scales.

Indeed, several current policies seem to be discouraging women from returning to work.

Author(s): Allison Schrager

Publication Date: 15 June 2021

Publication Site: City Journal

Report Reveals Albany’s Balanced Budget a Gimmick

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Excerpt:

The dramatic reversal that shrank the state’s four-year budget gap from $38.7 billion in January to the current $3.4 billion occurred, incredibly, despite the Governor and legislature adopting a budget that increases state spending significantly in education and other areas. What turned the tide was a massive injection of federal aid—including $12.7 billion in no-strings federal aid awarded to the state in March under the American Rescue Plan—along with tax collections that defied earlier projections of vast, pandemic-induced revenue loss, and new tax hikes inflicted on high earners estimated to yield $2.75 billion in new revenue this year alone. As a result, the enacted budget financial plan the Governor’s budget office issued last month shows a balanced budget for this fiscal year and next. Even the red ink that starts accumulating in 2024 and 2025 looks manageable.

But looks are deceiving here. Extending the budget window—as does a chart on page nine of the Comptroller’s report, shown below—reveals large, yawning budget gaps growing from nearly $8 billion in 2026 to nearly $20 billion by the end of the decade. The dual expiration of American Rescue Plan funds in 2026 and a temporary hike in the PIT in 2027 sends the budget deep into the red.

Author(s): Peter Warren

Publication Date: 28 June 2021

Publication Site: Empire Center for Public Policy

Sex Bias in Graduate Admissions: Data from Berkeley

Link: https://science.sciencemag.org/content/187/4175/398

Graphic:

Excerpt:

Examination of aggregate data on graduate admissions to the University of California, Berkeley, for fall 1973 shows a clear but misleading pattern of bias against female applicants. Examination of the disaggregated data reveals few decision-making units that show statistically significant departures from expected frequencies of female admissions, and about as many units appear to favor women as to favor men. If the data are properly pooled, taking into account the autonomy of departmental decision making, thus correcting for the tendency of women to apply to graduate departments that are more difficult for applicants of either sex to enter, there is a small but statistically significant bias in favor of women. The graduate departments that are easier to enter tend to be those that require more mathematics in the undergraduate preparatory curriculum. The bias in the aggregated data stems not from any pattern of discrimination on the part of admissions committees, which seem quite fair on the whole, but apparently from prior screening at earlier levels of the educational system. Women are shunted by their socialization and education toward fields of graduate study that are generally more crowded, less productive of completed degrees, and less well funded, and that frequently offer poorer professional employment prospects.

Science 
 07 Feb 1975:
Vol. 187, Issue 4175, pp. 398-404
DOI: 10.1126/science.187.4175.398

Author(s): P. J. Bickel, E. A. Hammel, J. W. O’Connell

Publication Date: 7 February 1975

Publication Site: Science

Life expectancy in U.S. dropped by almost two years between 2018 and 2020

Link: https://www.benefitspro.com/2021/06/28/life-expectancy-in-u-s-dropped-by-almost-two-years-between-2018-and-2020/

Excerpt:

Life expectancy in the United States between 2018 and 2020 decreased by 1.87 years (to 76.87 years), which is 8.5 times the average decrease in other high-income nations. What’s more, decreases in life expectancy among Hispanic and non-Hispanic Black people were about two to three times greater than in the non-Hispanic White population, reversing years of progress in reducing racial and ethnic disparities. The life expectancy of Black men (67.73 years) is the lowest since 1998.

Those are key findings of a study conducted by researchers at the Virginia Commonwealth University School of Medicine, the University of Colorado Population Center and the Urban Institute in Washington, D.C., and published in The BMJ — a peer-reviewed medical trade journal of the British Medical Association.

Author(s): Michael Popke

Publication Date: 28 June 2021

Publication Site: Benefits Pro

They called it a conspiracy theory. But Alina Chan tweeted life into the idea that the virus came from a lab.

Link: https://www.technologyreview.com/2021/06/25/1027140/lab-leak-alina-chan/

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Excerpt:

Chan started emailing authors and journals to get the raw data she needed to more fully analyze what they had done. Making such data available is usually a condition of publication, but it can still be hard to obtain. After what she calls months of stonewalling, Chan finally lost her cool and blasted an accusation out from her browser. “I need the scientists + editors who are directly or indirectly covering up severe research integrity issues surrounding some of the key SARS-2-like viruses to stop and think for a bit,” she posted to Twitter. “If your actions obscure SARS2 origins, you’re playing a hand in the death of millions of people.”

Eddie Holmes, a prominent Australian virologist and coauthor of one of those papers (as well as “Proximal Origins”), called the tweet “one of most despicable things I read on the origins issue.” He felt accused, but he wondered what he was being accused of, since his paper had correctly accounted for its pangolin data sources. Holmes then circulated an intricate time line prepared by Chan of the publication dates and past connections between the authors. The chart’s dense web of arrows and connections bore an unmistakable resemblance to an obsessive’s cork board covered with red string and thumbtacks.

Author(s): Antonio Regalado

Publication Date: 25 June 2021

Publication Site: MIT Tech Review

The New York City Unions Whose Backdoor Deal Sold Out Retirees, Helped Insurance Industry

Link: https://www.newsweek.com/new-york-city-unions-whose-backdoor-deal-sold-out-retirees-helped-insurance-industry-1604661

Excerpt:

In recent years, leadership of some of the nation’s largest unions have publicly opposed single-payer health care proposals, angering their rank-and-file and forcing Democratic politicians who back single-payer to take on a key constituency.

In New York City, for example, the umbrella organization for the city’s public sector unions—the Municipal Labor Committee (MLC)—recently helped the health insurance industry block a statewide single-payer bill, on the grounds that their members wanted to keep the health care benefits for which they had sacrificed wage increases.

But it turns out that the MLC, which bargains for health care benefits for city unions, was also engaging in backdoor negotiations with the city, resulting in a proposal to switch nearly a quarter-million people from Medicare to privately administered Medicare Advantage plans.

…..

Following the 2018 cost-cutting agreement, union leaders and officials came up with eight proposals to meet the cost-cutting requirements, including switching to a statewide single-payer system or setting up a self-insurance system.

A January 2021 study by The New School found that the city could save about $1.6 billion per year if it adopted a self-insurance program, as most major cities and large companies have done. That would involve setting up a health insurance plan just for the city’s employees and paying for claims directly, rather than paying premiums to a health insurance company which tends to be more expensive because insurance company profit margins are so large.

But since the negotiations between the MLC and Office of Labor Relations were held behind closed doors, retirees don’t know whether this option was ever considered.

Author(s): JULIA ROCK, THE DAILY POSTER

Publication Date: 28 June 2021

Publication Site: Newsweek

It’s Worse than “Reverse” – The Full Case Against Ultra Low and Negative Interest Rates

Link: https://www.ineteconomics.org/research/research-papers/its-worse-than-reverse-the-full-case-against-ultra-low-and-negative-interest-rates

Paper: https://www.ineteconomics.org/uploads/papers/WP_151-White-NegativeInterestRates.pdf

Abstract:

It is becoming increasingly accepted that lowering interest rates might at some point prove contractionary (the “reversal interest rate”) if lower lending margins cut the supply of bank loans. This paper argues that there are many other reasons to question reliance on monetary policy to provide economic stimulus, particularly over successive financial cycles. By encouraging the issue of debt, often for unproductive purposes, monetary stimulus becomes increasingly ineffective over time. Moreover, it threatens financial stability in a variety of ways, it leads to real resource misallocations that lower potential growth, and it finally produces a policy “debt trap” that cannot be escaped without significant economic costs. Debt-deflation and high inflation are both plausible outcomes.

https://doi.org/10.36687/inetwp151

Author(s): William White

Publication Date: 5 March 2021

Publication Site: Institute for New Economic Thinking

Effect of the covid-19 pandemic in 2020 on life expectancy across populations in the USA and other high income countries: simulations of provisional mortality data

Link: https://www.bmj.com/content/373/bmj.n1343

Graphic:

Excerpt:

Results Between 2010 and 2018, the gap in life expectancy between the US and the peer country average increased from 1.88 years (78.66 v 80.54 years, respectively) to 3.05 years (78.74 v 81.78 years). Between 2018 and 2020, life expectancy in the US decreased by 1.87 years (to 76.87 years), 8.5 times the average decrease in peer countries (0.22 years), widening the gap to 4.69 years. Life expectancy in the US decreased disproportionately among racial and ethnic minority groups between 2018 and 2020, declining by 3.88, 3.25, and 1.36 years in Hispanic, non-Hispanic Black, and non-Hispanic White populations, respectively. In Hispanic and non-Hispanic Black populations, reductions in life expectancy were 18 and 15 times the average in peer countries, respectively. Progress since 2010 in reducing the gap in life expectancy in the US between Black and White people was erased in 2018-20; life expectancy in Black men reached its lowest level since 1998 (67.73 years), and the longstanding Hispanic life expectancy advantage almost disappeared.

Conclusions The US had a much larger decrease in life expectancy between 2018 and 2020 than other high income nations, with pronounced losses among the Hispanic and non-Hispanic Black populations. A longstanding and widening US health disadvantage, high death rates in 2020, and continued inequitable effects on racial and ethnic minority groups are likely the products of longstanding policy choices and systemic racism.

BMJ 2021; 373 doi: https://doi.org/10.1136/bmj.n1343 (Published 24 June 2021)Cite this as: BMJ 2021;373:n1343

Author(s): Steven H Woolf, Ryan K Masters, Laudan Y Aron

Publication Date: 24 June 2021

Publication Site: bmj

Black and Hispanic Americans Suffer Most in Biggest US Decline in Life Expectancy Since WWII

Excerpt:

Indeed, new research published Wednesday in the BMJ shows just how wide that gap has grown. Life expectancy across the country plummeted by nearly two years from 2018 to 2020, the largest decline since 1943, when American troops were dying in World War II, according to the study. But while white Americans lost 1.36 years, Black Americans lost 3.25 years and Hispanic Americans lost 3.88 years. Given that life expectancy typically varies only by a month or two from year to year, losses of this magnitude are “pretty catastrophic,” said Dr. Steven Woolf, a professor at Virginia Commonwealth University and lead author of the study.

Over the two years included in the study, the average loss of life expectancy in the U.S. was nearly nine times greater than the average in 16 other developed nations, whose residents can now expect to live 4.7 years longer than Americans. Compared with their peers in other countries, Americans died not only in greater numbers but at younger ages during this period.

The U.S. mortality rate spiked by nearly 23% in 2020, when there were roughly 522,000 more deaths than normally would be expected. Not all of these deaths were directly attributable to covid-19. Fatal heart attacks and strokes both increased in 2020, at least partly fueled by delayed treatment or lack of access to medical care, Woolf said. More than 40% of Americans put off treatment during the early months of the pandemic, when hospitals were stretched thin and going into a medical facility seemed risky. Without prompt medical attention, heart attacks can cause congestive heart failure; delaying treatment of strokes raises the risk of long-term disability.

Author(s): Liz Szabo

Publication Date: 24 June 2021

Publication Site: Kaiser Health News