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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These results reveal the breadth of the unprecedented gap between the pace of overall economic progress and the returns to working people.
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A fundamental principle of our economic system is that the benefits of economic growth will flow to those responsible for their creation. When how fast your income grows depends on your position in the income scale, this principle is violated. In that sense, today's unprecedented gap between the growth of the typical family's income and productivity is our most pressing economic problem.
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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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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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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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will make it harder for working families to truly get ahead.
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Nationally we think it's impossible to say exactly when we've reached full employment. But it sounds like in Florida you're there.
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My problem with the Bush plan is that it's so ideologically problematic that now these guys are going to have to argue about it for a month or two. That's bad because we need to inject stimulus into the economy quickly.
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(The) 43,000 new jobs is much too small a number to lower the unemployment number. The unemployment report underscores that the recovery is off to a slow start. The Fed will most certainly not raise (interest) rates in the near-term.
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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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You don't need an equitable distribution to have a sustainable recovery.
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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.
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We did not see the tremendous upsurge in injuries we thought we might get. It gets really difficult when it is tremendously hot during the night - not just when it is really hot days, but when it is really hot weeks.
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Whether we're into another period now where employers are turning really cautious again ... warrants close observation,