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.
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Any large fall in labor force participation at this point suggests that the labor market is not growing out of recession, but rather that discouraged job seekers are giving up, or not beginning, their job search.
growing inequality parts
Inequality is growing in all parts of the country.
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.
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This report shows a race between factors boosting net worth such as home ownership and factors pushing the other way such as weak wage growth. Unless we start to see better income growth from jobs and wages, it is hard to see major gains in net worth for the typical family.
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This report may give pause to some of the optimists looking for a stronger second half, ... We need a real boost if we're going to reverse some of these trends that are even more negative than we thought they were.
adding begun fairly gets jobs recovery services
As this recovery gets under way, professional services have begun adding jobs fairly broadly.
class continue generate pace slower
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.
cases expanding levels maintain output trying work
Firms were trying desperately to maintain the levels of output without expanding the work force, and in some cases contracting it.
absorb concerned looking profit protecting rising
Firms have to be very concerned about rising prices. They're protecting their profit margins. They're going to be looking at every nook and cranny to absorb this increase.
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Explaining the unique characteristics of this unbalanced recovery is more like 'Murder on the Orient Express' than finding a smoking gun in somebody's hands. There are a lot of suspects.
authorized congress department exactly labor millions overtime protection reason reduce
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.
looking maybe wrong
Maybe we were looking under the wrong rock.
basis conditions course cutting degraded few food health immigrant jobs meat native paid wages
Of course there are jobs that few Americans will take because the wages and working conditions have been so degraded by employers. But there is nothing about landscaping, food processing, meat cutting or construction that would preclude someone from doing these jobs on the basis of their nativity. Nothing would keep anyone, immigrant or native born, from doing them if they paid better, if they had health care.