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"...
wages trends slumps
We are in the midst of a protracted wage slump, ... a troubling trend that is largely going unnoticed by policymakers.
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.
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.
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.
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.
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.
absence bit higher hire immigrant lots might slightly wages
In the absence of immigrant labor, wages might be a bit higher, particularly in sectors that hire lots of low-skilled labor, which could potentially show up as slightly higher prices.
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.
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.
school play competition
Where you see immigration competition play out most clearly is among high school dropouts. I'd say there's clearly immigrant competition among the least-skilled workers, but natives are a shrinking share while immigrants are a growing share.
government should high-road
The government should be actively enforcing the high road.
employment situation
The full employment situation reinforces itself.