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"...
actual behind economy falling families looks year
The economy looks pretty snappy from 30,000 feet, but when you get down and look at how actual working families are doing, they're falling behind year after year.
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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.
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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.
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However, a far larger gap exists when we compare net worth: minorities' net worth was about 27 percent of whites, about half the size of the income ratio.
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We have welcomed past efforts by the Bureau to offer alternative poverty measures. Their most recent release, however, ignores critical innovations and omits essential costs like child care for working parents and thus represents a step backwards.
equitable
You don't need an equitable distribution to have a sustainable recovery.
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Unless working families can give up food and gas, this combination of slow wage growth and faster inflation continues to pinch.
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Whether we're into another period now where employers are turning really cautious again ... warrants close observation,
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What you don't hear from these GOP candidates is that they really can't go after this president on domestic production of oil and gas. He's actually done quite a lot. In fact, I would suspect they're environmentalists who are worried that we're doing too much drilling and fracking, in fact. I know that for a fact.
mean payroll-tax bucks
Did folks know that the tax to fund the program [Social Security] only hits salaries up to $110,000? That means that if you make a million bucks, about 90% of your salary is tax free when it comes to the payroll tax that funds Soc Sec. That ain't right.
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The government should be actively enforcing the high road.
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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.
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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.
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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.