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"...
adding beginning drive labor line looking market numbers picking recovery simply situation suggest top
These top line numbers suggest we are into what's beginning to look like a jobless recovery. We simply can't drive unemployment down if we're only adding 30 or 40,000 jobs. So, basically, we're looking at a situation where the recovery is calling, but the labor market isn't really picking up the phone.
employment situation
The full employment situation reinforces itself.
absorb along bouncing labor laid market numbers people quickly reveal
These numbers reveal a labor market that's not bouncing back quickly enough to absorb new entrants along with the people laid off during the downturn.
aisle asking both expect fine fiscal lots people sides tapping
The consumer's been doing a fine job, but we can't keep tapping them and expect them to get us out of a jobless recovery. That's why lots of people on both sides of the aisle are asking for fiscal stimulus.
adding believe definitely job loss question rate ready soon
I'm definitely ready to believe that the rate of job loss has slowed and that soon we will be adding jobs. The question is, will we be adding enough to keep unemployment from rising?
half month optimistic
I'm more optimistic than I was a month and a half ago,
growing inequality parts
Inequality is growing in all parts of the country.
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.
convinces labor market recovery report sure
I'm not sure this report convinces us that a recovery is underway in the labor market in any big way.
call quarter relevant soon types
It's too soon to call this a 'jobless' recovery, ... but another quarter or two of these types of reports, and that probably will be a relevant title.
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.
believe exactly people tend
Enough people said exactly that ? I tend to believe them.
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.
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.