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.
again cautious close employers period turning warrants whether
Whether we're into another period now where employers are turning really cautious again ... warrants close observation,
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.
strong wages way
With stagnant hourly wages, the only way for working families to get ahead is by working more hours, ... certainly not the path to improving living standards that we'd expect in an economy posting strong productivity gains.
school play competition
Where you see immigration competition play out most clearly is among high school dropouts. I'd say there's clearly immigrant competition among the least-skilled workers, but natives are a shrinking share while immigrants are a growing share.
government should high-road
The government should be actively enforcing the high road.
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.
mean payroll-tax bucks
Did folks know that the tax to fund the program [Social Security] only hits salaries up to $110,000? That means that if you make a million bucks, about 90% of your salary is tax free when it comes to the payroll tax that funds Soc Sec. That ain't right.
economy outer reaches ripples storm tremendous
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.
looking recovery
We're looking at a recession/jobless recovery that's two years old to the day.
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.