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"...
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.
wages trends slumps
We are in the midst of a protracted wage slump, ... a troubling trend that is largely going unnoticed by policymakers.
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.
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.
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When the storm hits, you have tremendous devastation. The ripples in the outer reaches of the economy will be visible, but not enough to derail us.
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When unemployment is that low, wages are growing broadly, and family incomes are rising. Wage-based demand growth keeps the economy growing at potential.