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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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.
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(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.
call focus report
Lawmakers need to focus on stimulus, and this report is really a wake-up call in that regard.
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A number of other reports suggest the labor market is finally hitting its stride, one weekly claims number is not enough to undermine that conclusion.
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I'm not sure this report convinces us that a recovery is underway in the labor market in any big way.
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This is very much the type of job report you would expect coming off a strong quarter.
clearly gotten labor market past report stuck
This doesn't look like a significantly different report than we've gotten in past months, but that's significant in itself. The labor market is clearly stuck in neutral.
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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.
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Firms were trying desperately to maintain the levels of output without expanding the work force, and in some cases contracting it.
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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.
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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.