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"...
call focus report
Lawmakers need to focus on stimulus, and this report is really a wake-up call in that regard.
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.
certainly fed jobs lower number raise rates recovery report slow small
(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.
claims finally hitting labor market number reports suggest undermine weekly
A number of other reports suggest the labor market is finally hitting its stride, one weekly claims number is not enough to undermine that conclusion.
clearly gotten labor market past report stuck
This doesn't look like a significantly different report than we've gotten in past months, but that's significant in itself. The labor market is clearly stuck in neutral.
coming expect job report strong type
This is very much the type of job report you would expect coming off a strong quarter.
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.
absorb create force increases jobs labor order
You need to create ever more jobs in order to absorb increases in the labor force as well as productivity gains.
explaining finding gun recovery smoking unbalanced unique
Explaining the unique characteristics of this unbalanced recovery is more like 'Murder on the Orient Express' than finding a smoking gun in somebody's hands. There are a lot of suspects.
aggregate except figure great numbers posting record wage
The economy's doing fine, except if you figure in working families, ... We're posting great numbers in aggregate demand, yet the lousiest on record for wage growth.
aggregate except figure great numbers posting record wage
The economy's doing fine, except if you figure in working families. We're posting great numbers in aggregate demand, yet the lousiest on record for wage growth.
cuts deeper economy falling faster rest run telling
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.
adding beginning drive labor line looking market numbers picking recovery simply situation suggest top
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.
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.