Jared Bernstein
Jared Bernstein
Jared Bernsteinis a Senior Fellow at the Center on Budget and Policy Priorities. From 2009 to 2011, Bernstein was the Chief Economist and Economic Adviser to Vice President Joseph Biden in the Obama Administration. Bernstein's appointment was considered to represent a progressive perspective and "to provide a strong advocate for workers"...
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The consumer's been doing a fine job, but we can't keep tapping them and expect them to get us out of a jobless recovery. That's why lots of people on both sides of the aisle are asking for fiscal stimulus.
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While we continue to generate middle-class jobs, I would say we're doing so at a slower pace than we have in the past.
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As this recovery gets under way, professional services have begun adding jobs fairly broadly.
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Enough people said exactly that ? I tend to believe them.
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There is no reason to believe...that Congress has authorized the Department of Labor to dramatically reduce coverage...taking overtime protection away from millions of workers. Yet that is exactly what the Department of Labor has proposed.
cut definitely families folks gallon income lower mean notice paying scale top younger
Folks at the top of the income scale definitely notice when they're paying $3.50 a gallon for gasoline. But for them, that doesn't necessarily mean they are going to have to cut back elsewhere, ... Younger families have lower incomes.
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Folks are coming back into the labor market, but they're not finding jobs there. The tepid pace of job growth was too low to keep unemployment from rising. We're looking at a fairly weak recovery, at least initially.
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American companies really haven't been sinking much of their gains back into domestic investment.
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As jobs become more available, people are no longer finding themselves stuck as long in unemployment.
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You need to create ever more jobs in order to absorb increases in the labor force as well as productivity gains.
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This is a pretty negative report. The reason unemployment ticked down is the labor force contracted. That suggests fewer people are getting into the game, looking for work, and that kind of discouragement can lead to a lower unemployment rate.
balance sheet
This is a tremendously detailed, comprehensive look at the American family's balance sheet and it ain't pretty.
class family says wakes
This isn't an administration that wakes up and says 'what can we do for the working class family today,'
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The weakness in the labor market is clearly reducing the growth of earnings, meaning consumers, most of who depend on their paychecks, are likely to remain insecure about where the economy is headed. This in turn has the potential to constrain consumption growth, limiting the boost that the economy will get from the recent tax cut, and delaying the arrival of a truly self-sustaining recovery.