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"...
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.
facing families higher keeping lower pace pinch problem simply wages
The problem isn't simply that families are facing higher prices, particularly at the pump. It's also that they're facing lower wages. If wages were keeping pace with inflation, the pinch wouldn't be as hard.
certainly fed jobs lower number raise rates recovery report slow small
(The) 43,000 new jobs is much too small a number to lower the unemployment number. The unemployment report underscores that the recovery is off to a slow start. The Fed will most certainly not raise (interest) rates in the near-term.
based best excesses hope looking lower maybe next percent quarter rate second
Maybe by the second quarter of next year, we'll be looking at some lower unemployment rate -- say in the 5 to 5.5 percent range, if we're lucky. But that would be the best to hope for, and it's based on our working through these excesses that persist.
fewer force labor lead looking lower negative people reason ticked
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.
hand helping lending less lower policies poor push racial talks toward wages
He talks about lending a helping hand to the poor and disadvantaged. But these policies push the other way, toward lower wages and less racial inclusion.
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.
believe exactly people tend
Enough people said exactly that ? I tend to believe them.
coming fairly finding folks growth jobs labor looking low pace weak
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.
ability bargain difference fair labor market people relatively share talking tight weak
People think unemployment is still relatively low, but there's all the difference in the world between a tight labor market and a weak one when you're talking about employees' ability to bargain for a fair share of growth.
good jobs month
Our expectations have been pretty diminished. A good month used to be 300,000 more jobs and now it is 200,000.
adding begun fairly gets jobs recovery services
As this recovery gets under way, professional services have begun adding jobs fairly broadly.