Inequality | Jotup

State Street Earns MLT’s Hispanic Equity at Work Bronze Certification and Black Equity at Work Bronze Recertification

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Wednesday, April 10, 2024

Professional Services, DEI (Diversity, Equity and Inclusion), Finance, DEI, Address, State Street Corporation, STT, MLT, State, Work, Inequality, Partnership, Workplace, Certification, State Street, Racism, Security (finance)

State Street Corporation (NYSE: STT) today announced that it has earned both the Hispanic Equity at Work Bronze Certification and the renewal of its Black Equity at Work Bronze Certification, two recognitions issued by Management Leadership of Tomorrow (MLT).

Key Points:

State Street Corporation (NYSE: STT) today announced that it has earned both the Hispanic Equity at Work Bronze Certification and the renewal of its Black Equity at Work Bronze Certification, two recognitions issued by Management Leadership of Tomorrow (MLT).
“State Street’s steadfast commitment to breaking down systemic barriers for Black and Hispanic professionals is truly exemplary,” said John Rice, CEO & Founder of MLT.
By becoming Hispanic Equity at Work certified, State Street is setting the standard for racial equity within our country’s leading financial institutions.”
Last year, State Street became the first Global Systemically Important Financial Institution (GSIFI) to earn the MLT Black Equity at Work Bronze Certification , and the firm has now been recognized with recertification of this achievement.
With today’s announcement, State Street also becomes the first GSIFI to earn the MLT Hispanic Equity at Work Certification.

Graduation rates for low-income students lag while their student loan debt soars

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Thursday, April 18, 2024

Student, Education, School, Bankruptcy, Inequality, University, STEM, Nursing

Many start but don’t finish

Key Points:

Many start but don’t finish
The problem goes beyond the fact that students from lower-income households are entering higher education at a lower rate than high-income students.
One key factor is that low-income students of color tend to go to low-funded higher education institutions with low graduation rates.
The combination of low graduation rates and high debt can severely reduce the ability to pay off loans.
A significant part of student debt is generated by for-profit colleges that have low graduation rates.

Dream Pairs Launches Heartwarming Campaign to Empower The Bronx Community

Retrieved on:

Monday, March 18, 2024

Inequality, Poverty

NEW YORK, March 18, 2024 /PRNewswire/ -- Dream Pairs, the esteemed Amazon footwear brand, is igniting hope and change in The Bronx with its groundbreaking "Dream Pairs

Key Points:

NEW YORK, March 18, 2024 /PRNewswire/ -- Dream Pairs , the esteemed Amazon footwear brand, is igniting hope and change in The Bronx with its groundbreaking "Dream Pairs
Through their first brick-and-mortar retail store located in the Bronx, Dream Pairs is making a tangible impact on the community it serves.
"At Dream Pairs, we believe in the power of giving back to the community that has embraced us," says Jimmy Lau, VP of brand marketing at Dream Pairs.
Through "Dream Pairs

State Street Announces $100 Million Program for Minority Depository Institutions and Community Development Financial Institutions

Retrieved on:

Thursday, February 29, 2024

State Street Corporation (NYSE: STT) today announced a $100 million program to provide low-cost, stable deposit funding to minority depository institutions (MDIs)1 and Community Development Financial Institutions (CDFIs)2, to support the firms’ collective missions of addressing inequities in our communities by working toward a more just and equitable future.

Key Points:

State Street Corporation (NYSE: STT) today announced a $100 million program to provide low-cost, stable deposit funding to minority depository institutions (MDIs)1 and Community Development Financial Institutions (CDFIs)2, to support the firms’ collective missions of addressing inequities in our communities by working toward a more just and equitable future.
As a part of this program, the firm is initially partnering with two mission-driven MDIs - Optus Bank and Mechanics & Farmers Bank (M&F Bank).
Both MDIs and CDFIs support low-to-moderate income communities through lending, affordable housing and workforce development.
This program, builds upon State Street’s actions to advance racial equity.

Demographics, labor market power and the spatial equilibrium

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Tuesday, February 13, 2024

Diamond, Bias, Azar, Technical report, Annual Review of Economics, Princeton University, Education, Population growth, Interval (mathematics), House, Labour economics, SSRN, J11, SIAB, Medical classification, Human resources, Automation, R2, Section 2, FE, CEPR, Probability, Literature, Workforce, Housing, Reproduction, Research Papers in Economics, Male, Classification, Supply chain, A.2, Section, Political economy, BHP, Sokolov, Calibration, Journal of Labor Economics, Journal of Political Economy, Social Security, Schaffner, Selection bias, Yi, Sample, Inequality, Employment, Paper, Princeton University Press, Theory, Woman, Daron Acemoglu, American Economic Review, XN, Shock, National Academies Press, Female, Retirement, Section 5, Manning, Central bank, National academy, European Central Bank, Section 4, Labor share, IEB, Bachmann, David Berger, Research, Federal Reserve Bank, JEL, Elasticity, Workplace, Section 3, Welfare, Journal of Urban Economics, National Research Council, Projection, Fertility, A4, University Press, Feedback, Market power, Converge, Concentration, PDF, Policy, Click, Meta-analysis, Website, Unemployment, Social science, Quarterly Journal of Economics, ECB, Demography, Real estate

Abstract

Key Points:

Abstract
This paper studies how demographics affect aggregate labor market power, the urban wage
premium and the spatial concentration of population.
I develop a quantitative spatial model
in which labor market competitiveness depends on the demographic composition of the local
workforce.
If these factors differ across workers, labor market power has a role to
play in explaining wage inequality.
This paper contributes to the literature on differences in labor market power by analyzing a
new dimension of heterogeneity: demographics.
Since older workers are less mobile in terms of
switching workplaces, firms have more labor market power over older workers.
I start by estimating labor market power by measuring the sensitivity of worker turnover to
the wage paid.
I find a strong
role of demographics in determining the degree of labor market power enjoyed by firms.
Next, I provide evidence of the importance of differences in labor market power for spatial
wage inequality.
To explore the consequences of labor market sorting, I build a spatial general equilibrium
model in which labor market competitiveness depends on the demographic composition of the
ECB Working Paper Series No 2906

2

local workforce.
If these factors differ across workers, labor market power has a role to
play in explaining wage inequality.
In
the model, geographic sorting by age matters and leads to higher labor market power in rural
areas, which implies an urban wage premium that is 4% larger than with uniform labor supply
elasticities.
I follow Manning (2013) and estimate labor market power by measuring the sensitivity of worker
turnover to the wage paid.
Bachmann et al., 2021; Ahlfeldt et al., 2022a; Berger et al.,
2022) that nest a monopsonistic labor market in a spatial general equilibrium model (Redding
and Rossi-Hansberg, 2017).
As firms have more labor market power
over older workers, they face an upward-sloping labor supply curve that is less elastic in regions
with an older workforce.
Firms choose in which labor market to operate in the sense that there is free
entry at fixed costs into all locations.
How are differences in labor market competitiveness across space sustained in spatial equilibrium?
I use the model to quantify the importance of heterogeneity
in labor market power for the urban wage premium and the spatial concentration of population.
My work is complementary to but quite different
from this paper since I argue that population aging increases labor market power rather than
product market power.
By analyzing the effects of a changing age composition of the workforce in the context
of labor market power, I relate to literature on the labor market effects of population aging.
ECB Working Paper Series No 2906
7

after controlling for age, differences in labor market power between East and West Germany
vanish.
They conclude that higher
concentration is associated with higher labor market power (as in the model of Jarosch et al.,
forthcoming).
I offer an alternative explanation why labor market power differs across regions:
Since denser regions have a younger workforce, workers are more mobile in terms of switching
jobs which implies lower labor market power of firms.
In this case, I infer a
high labor supply elasticity and low labor market power of firms.
I contribute to this growing debate by
quantifying differences in labor market power across worker groups and their effects on regional
inequality.
While the model shows how demographics affect labor market power, the urban wage premium and agglomeration, one fundamental question remains open for future research: What
are the policy implications of (differences in) labor market power?

New Research Shows Academic Recovery Has Started; Action Needed Before Federal Spending Deadline to Ensure Remaining Gaps are Closed

Retrieved on:

Wednesday, January 31, 2024

CAMBRIDGE, Mass., Jan. 31, 2024 /PRNewswire/ -- After reporting on pandemic achievement losses last year, the Education Recovery Scorecard (a collaboration between the Center for Education Policy Research at Harvard University and The Educational Opportunity Project at Stanford University) is issuing a report on the first year of academic recovery for school districts in 30 states.     

Key Points:

Even if they maintain last year's pace, students will not be caught up by the time federal relief expires in September.
Moreover, the recovery efforts are not closing the gaps between high- and low-poverty districts which widened during the pandemic.
To the extent that states and districts have remaining funds, they should focus those dollars on academic recovery this summer and next school year.
States need to take leadership and ensure that every last dollar of the remaining federal relief is spent on academic recovery efforts, like summer school, high-quality tutoring, and after-school instruction next year."

TimelyCare Improves Inclusive Care Delivery for Diverse College Students Using Violet

Retrieved on:

Thursday, October 5, 2023

Partnership, Equitable, Inequality, Health equity, Education, Student, Disability, BIPOC, Benchmark, Patient, Nursing, Violet

NEW YORK, Oct. 5, 2023 /PRNewswire/ -- Violet, the first-ever cultural competence analytics and training platform for providers, and TimelyCare, higher education's most trusted virtual health and well-being provider, have released a case study today demonstrating the benefits of identity-centered care for college students.

Key Points:

TimelyCare partners with Violet to improve identity-centered care for college students.
Our partnership with Violet has demonstrated that breaking down health equity barriers and ensuring inclusive care delivery improve health outcomes and support student success," said Dr. Bob Booth, Chief Care Officer at TimelyCare.
By using this method of measurement at TimelyCare, Violet Benchmarks uncovered additional inclusive providers for BIPOC, LGBQ and TGNC communities.
I'm pleased that TimelyCare and Violet are setting the bar for measuring and increasing inclusive care delivery among college students and backing it up with clinical research," said Gaurang Choksi, founder and CEO of Violet.

Trade unions and the new economy: 3 African case studies show how workers are recasting their power in the digital age

Retrieved on:

Sunday, October 1, 2023

In Nigeria they are angry over the rising cost of living and in South Africa, municipal workers are striking for better wages.

Key Points:

In Nigeria they are angry over the rising cost of living and in South Africa, municipal workers are striking for better wages.
But it’s becoming increasingly difficult to build sustainable worker organisations as companies employ more people on a casual basis in the digital age.
In our new book, Recasting Workers’ Power: Work and Inequality in the Shadow of the Digital Age, we focus on workers’ power.

Three case studies

We found the factory workers were using a range of tools – old and new – to organise.
But they also drew on old practices (institutional power) by taking up cases through the Commission for Conciliation, Mediation and Arbitration and the amended Labour Relations Act.
Both offer the possibility of workers being able to get permanent jobs in the company at which they work.
In Kampala, we found that the Amalgamated Transport and General Workers’ Union was also using new approaches to organise workers.
Importantly, where trade unions have taken up the issues of informal workers, unions have also undergone fundamental changes.

What next?

But it also suggests some grounds for optimism in the new and hybrid forms of organisation and the coalitions that are emerging.
The question raised by these findings is whether these embryonic forms of worker organisation are sustainable.

Explainer: the philosophy of Jean-Jacques Rousseau is profoundly contemporary

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Monday, September 25, 2023

No account of the modern era – not just modern thought – could ignore him.

Key Points:

No account of the modern era – not just modern thought – could ignore him.
But like any major thinker, there are risks in summaries – some of which give us clues about Rousseau himself.
Although he is known as a social and political philosopher, Rousseau’s creative output does not resemble that of a contemporary “theorist”.
These are now conventional tropes, but they were only emerging at the time Rousseau was writing.

Natural or artificial

Rousseau had shot to fame a decade earlier, after winning an essay competition advertised in the literary magazine Mercure de France.
Where much philosophical discussion had been centred around the distinction between the “natural” and the “supernatural”, Rousseau opposed the natural to the artificial.
He argued that what we ordinarily think of as civilisational progress creates – and then aims to satisfy – new and artificial vices, serving our vanity and not our natural needs.
In fact, he proposed there were many good reasons to think they were greater in both.
Read more:
Guide to the Classics: Voltaire’s Candide — a darkly satirical tale of human folly in times of crisis

Society and inequality

Developing these ideas, in 1754, Rousseau wrote his Discourse on the Origin and Basis of Inequality Among Men.
In it, he attempted a thought experiment which imagined what humans may have been like in a “pre-civilisational” state.
Rousseau was aware that this act of imagination was speculative and he could not be sure of its results.
He held that inequality was artificial.

Education and politics

The first was the institution of a new kind of education; the second was reorienting politics towards a new moral foundation.
In Émile, or On Education (1862), Rousseau wrote a treatise on education in the form of a bildungsroman – the first and likely the last of its kind.
He sought to outline the conditions of a good education, which he thought should be based on lived experience and the development of individual character, not rote learning, mechanical memorisation, or even the reading of books.
As for moral education, young people should learn about the consequences of their actions.
Rousseau’s terminology has oriented discussions of morality, self-development and politics from the 18th century to the counterculture of the 1960s, the New Age movement of the 1980s, and beyond.

Deism and human nature

According to Rousseau, we know what we know of God from Nature and Reason alone.
In Rousseau, Judge of Jean-Jacques (1776), Rousseau addresses this question directly, and in typically Rousseauian fashion:
whence could the painter and apologist of human nature have taken his model, if not from his own heart?
He has described this nature just as he felt it within himself.
whence could the painter and apologist of human nature have taken his model, if not from his own heart?
He has described this nature just as he felt it within himself.

Peach State Health Plan and the Centene Foundation Announce a $1.5 Million Commitment to City of Refuge, Supporting the Atlanta Campus Expansion

Retrieved on:

Thursday, September 7, 2023

ATLANTA, Sept. 7, 2023 /PRNewswire/ -- Peach State Health Plan, a care management organization that helps Georgians live healthier lives through innovative healthcare solutions, and the Centene Foundation, the philanthropic arm of Centene Corporation (NYSE: CNC) focused on investing in economically challenged communities, announced today a $1.5 million commitment to City of Refuge, an Atlanta-based nonprofit that seeks to bring light, hope, and transformation to local individuals and families. The investment will support the development of a community health and wellness center as well as an innovation hub that supports unemployed members seeking employment.

Key Points:

"Peach State Health Plan and the Centene Foundation are proud to partner with City of Refuge to help break down barriers of inequality and provide supportive services to drive critical change and positive impact in one of Atlanta's most at-risk neighborhoods," said Peach State Health Plan President and CEO, Wade Rakes.
The commitment from Peach State Health Plan and the Centene Foundation will support two components:
Health and Wellness Center – This partnership seeks to build out a quality health and wellness center at City of Refuge's forthcoming 36,000-square-foot Transformation Center.
Peach State Health Plan will be on site again in September and December to support on going efforts.
For more information about Peach State Health Plan and the Centene Foundation's commitment to City of Refuge, visit https://www.centene.com/who-we-are/centene-foundation.html .