🙌IMSPARK: Wage Equity for All in the Pacific 🙌

 🙌Imagine… Wage Equity for All in the Pacific 🙌

💡 Imagined Endstate: 

The Pacific region has successfully achieved wage equity for all workers, regardless of their gender, race, ethnicity, or other characteristics. The region has fostered a culture of fairness, opportunity, and inclusion, where everyone is paid fairly and equitably for their work.

🔗Link:

Ref Here

📚Source: 

Wage and Hour Division, DOL. (2021). Independent contractor status under the Fair Labor Standards Act. Federal Register, 86 (4), 1168-1248. 

💥 What’s the Big Deal: 

The rule by the Wage and Hour Division (2021) revises the interpretation of independent contractor status under the FLSA, which requires covered employers to pay their nonexempt employees at least the federal minimum wage and overtime pay, and to keep certain records regarding their employees. 🌟 The rule adopts an “economic reality” test that focuses on two core factors: the nature and degree of the worker’s control over the work, and the worker’s opportunity for profit or loss based on initiative and/or investment.💸 The rule also identifies three other factors that may serve as additional guideposts: the amount of skill required for the work, the degree of permanence of the working relationship, and whether the work is part of an integrated unit of production. Wage equity is a key aspect of income inequality, as it affects the economic and social well-being of workers and their families, especially the most vulnerable and marginalized groups.🌈 By achieving wage equity, the Pacific region can enhance its economic growth, social cohesion, and political stability. Achieving wage equity can also support the region’s resilience to global challenges such as climate change, health crises, and digital divide.

#WageEquity, #PacificFuture, #Fairness, #Opportunity,#Inclusion,#IMSPARK,

💸 IMSPARK: A Pacific Future with Reduced Income Inequality💸

💸 Imagine… A Pacific Future with Reduced Income Inequality💸 

💡 Imagined Endstate: 

The Pacific region has successfully narrowed the income gap between the rich and the poor, as well as between different racial and gender groups. The region has fostered a culture of fairness, opportunity, and inclusion, where everyone has a decent standard of living and a chance to thrive.

🔗Link:

Ref Here

📚Source: 

McKay, L. C. (2023). The state of income inequality. Federal Reserve Bank of Minneapolis. 

💥 What’s the Big Deal: 

The article by McKay (2023) reveals that income inequality in the U.S. has been rising over the past 50 years, especially among the highest earners. 📈 The article also shows that income inequality varies across states, by gender, and by race, with Black incomes lagging behind White incomes in every state. 🌈 The article suggests that government redistribution has helped to mitigate, but not eliminate, the income disparities.💰Income inequality is a key challenge for the Pacific region, as it affects the economic and social well-being of its residents, especially the most vulnerable and marginalized groups. ⚖️By reducing income inequality, the Pacific region can enhance its economic growth, social cohesion, and political stability. Reducing income inequality can also support the region’s resilience to global challenges such as climate change, health crises, and digital divide.

#Income, #FRB, #WealthEquity#PacificFuture, #Fairness, #Opportunity, #Inclusion,#IMSPARK,