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"...
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.
close couple cut jobs last months past recovery worst
There were close to 200,000 jobs cut in the past couple of months, making them the worst two months of last year. The jobless recovery is not only lingering, it's deepening.
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.
based change good month negative swing
One good month based on a swing in the C.P.I. does nothing to change this negative trajectory.
adding force given growth jobs labor month per population somewhere
Given the growth of the population and labor force and improvements in productivity, we need to be adding somewhere in the neighborhood of 150,000 jobs per month to nudge unemployment down.
half month optimistic
I'm more optimistic than I was a month and a half ago,
claims history katrina largest looking month negative next shown
Clearly, Katrina hasn't shown up in the jobless claims yet, but it will, ... Next month, we're going to be looking at one of the largest one month negative spikes in the history of this series, going back to the '30s.
job market months process six slowly year
The job market is slowly tightening. We are wringing out the slack. But we're only six months into a process that could take a year and a half.
again cautious close employers period turning warrants whether
Whether we're into another period now where employers are turning really cautious again ... warrants close observation,
peak somewhere ultimately
Ultimately unemployment will peak somewhere around 6.2 or 6.3 percent,
bottom children decent giving growth harder income lifting people poverty start themselves time top
When income growth is concentrated at the top of the income scale, the people at the bottom have a much harder time lifting themselves out of poverty and giving their children a decent start in life.
wages trends slumps
We are in the midst of a protracted wage slump, ... a troubling trend that is largely going unnoticed by policymakers.
mistake thinking growth
It's a mistake to think that any increase in wages is inflationary and there is substantial room for non-inflationary wage growth, particularly at the bottom end of the scale.
strong wages way
With stagnant hourly wages, the only way for working families to get ahead is by working more hours, ... certainly not the path to improving living standards that we'd expect in an economy posting strong productivity gains.