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"...
peak somewhere ultimately
Ultimately unemployment will peak somewhere around 6.2 or 6.3 percent,
drive economy families percent satisfied seen strong until
We've seen we can drive the economy at 4 percent unemployment with strong productivity gains. I won't be satisfied until we're back there. Many working families won't be either, I'd guess.
employment situation
The full employment situation reinforces itself.
running insecurity lines
The bottom line is that it's better to run a workforce on security than insecurity.
looking recovery
We're looking at a recession/jobless recovery that's two years old to the day.
bargaining demand labor large leverage likely period weakest workers
These are workers who have the weakest bargaining leverage and are most likely to be exploited, particularly in a period where you have a weak labor demand and a large labor supply.
convinces labor market recovery report sure
I'm not sure this report convinces us that a recovery is underway in the labor market in any big way.
coming fairly finding folks growth jobs labor looking low pace weak
Folks are coming back into the labor market, but they're not finding jobs there. The tepid pace of job growth was too low to keep unemployment from rising. We're looking at a fairly weak recovery, at least initially.
arrival boost clearly constrain depend economy growth insecure labor likely limiting market meaning potential recent reducing remain tax truly turn weakness
The weakness in the labor market is clearly reducing the growth of earnings, meaning consumers, most of who depend on their paychecks, are likely to remain insecure about where the economy is headed. This in turn has the potential to constrain consumption growth, limiting the boost that the economy will get from the recent tax cut, and delaying the arrival of a truly self-sustaining recovery.
companies domestic gains sinking
American companies really haven't been sinking much of their gains back into domestic investment.
hawks healthy inflation job looks market seen
This is what a healthy job market looks like ? we just haven't seen it for a long while, so it makes inflation hawks nervous.
absorb concerned looking profit protecting rising
Firms have to be very concerned about rising prices. They're protecting their profit margins. They're going to be looking at every nook and cranny to absorb this increase.
failing job market people
I think the fingerprints of a faltering job market are all over this report. We've got more people working, but they're failing to get ahead.
aisle asking both expect fine fiscal lots people sides tapping
The consumer's been doing a fine job, but we can't keep tapping them and expect them to get us out of a jobless recovery. That's why lots of people on both sides of the aisle are asking for fiscal stimulus.