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"...
demand economy family growing growth keeps wages
When unemployment is that low, wages are growing broadly, and family incomes are rising. Wage-based demand growth keeps the economy growing at potential.
economy outer reaches ripples storm tremendous
When the storm hits, you have tremendous devastation. The ripples in the outer reaches of the economy will be visible, but not enough to derail us.
cuts deeper economy falling faster rest run telling
It's one thing to run faster in place when the rest of the economy is stagnating as well. But it cuts a little deeper when policymakers are telling you the economy is fine, and you are falling behind.
economy gap growing large living people performing standards
It's unprecedented. There is a large and growing gap between how the economy is performing and the living standards of the people stoking the engine.
classic economy economy-and-economics family gap households leaving living standards
It's a pretty classic story of an economy that's leaving middle-income households behind. The gap between how this economy's doing and the living standards of the median family has never been larger.
drive economy families percent satisfied seen strong until
We've seen we can drive the economy at 4 percent unemployment with strong productivity gains. I won't be satisfied until we're back there. Many working families won't be either, I'd guess.
economic economy people
A lot of economic indicators are up. But there are a lot of people in the economy who are still down.
arrival boost clearly constrain depend economy growth insecure labor likely limiting market meaning potential recent reducing remain tax truly turn weakness
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.
argue bad bush economy guys month plan problem stimulus
My problem with the Bush plan is that it's so ideologically problematic that now these guys are going to have to argue about it for a month or two. That's bad because we need to inject stimulus into the economy quickly.
both decline economy-and-economics faster grows hours output resulting strong thus weak
In a strong economy, hours and output can both grow, so long as output grows at a faster rate, thus resulting in productivity growth. But... productivity can also grow in a slowdown or recession, when a decline in hours outpaces weak or nonexistent output growth.
actual behind economy falling families looks year
The economy looks pretty snappy from 30,000 feet, but when you get down and look at how actual working families are doing, they're falling behind year after year.
breadth economic gap overall pace progress results returns reveal
These results reveal the breadth of the unprecedented gap between the pace of overall economic progress and the returns to working people.
growth happy job pace
I've been pretty happy to see the pace of job growth in professional services.
bargaining demand labor large leverage likely period weakest workers
These are workers who have the weakest bargaining leverage and are most likely to be exploited, particularly in a period where you have a weak labor demand and a large labor supply.