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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If you're a native high school dropout in this economy, you've got a slew of problems of which immigrant competition is but one, and a lesser one at that.
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Home appreciation was offset by lousy wage growth and debt accumulation.
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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?
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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.
I don't see many firms that are that cash-constrained; they're customer-constrained.
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It's unprecedented. There is a large and growing gap between how the economy is performing and the living standards of the people stoking the engine.
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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.
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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.
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It's one thing to run faster in place when the rest of the economy is stagnating as well. But it cuts a little deeper when policymakers are telling you the economy is fine, and you are falling behind.
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It looks to me like employers are finally either facing or expecting a level of demand that's much more convincing to them, ... This is yet another piece of evidence that employers are shedding their excessively cautious ways.
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It's a pretty classic story of an economy that's leaving middle-income households behind. The gap between how this economy's doing and the living standards of the median family has never been larger.
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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.
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As jobs become more available, people are no longer finding themselves stuck as long in unemployment.
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The inflation bar is very high right now, ... doesn't get you over.