112 ordspråk av Jared Bernstein

Jared Bernstein

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You need to create ever more jobs in order to absorb increases in the labor force as well as productivity gains.

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.

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.

I'm not sure this report convinces us that a recovery is underway in the labor market in any big way.

Any large fall in labor force participation at this point suggests that the labor market is not growing out of recession, but rather that discouraged job seekers are giving up, or not beginning, their job search.

Ultimately unemployment will peak somewhere around 6.2 or 6.3 percent,

This could mean that the labor market is another area coming on line in the nation's recovery.

has primarily to do with the compensation the typical worker earns.

The government should be actively enforcing the high road.

This isn't an administration that wakes up and says 'what can we do for the working class family today,'

Obviously a stronger-than-expected report,

Maybe we were looking under the wrong rock.

The bottom line is that it's better to run a workforce on security than insecurity.

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.

The problem isn't simply that families are facing higher prices, particularly at the pump. It's also that they're facing lower wages. If wages were keeping pace with inflation, the pinch wouldn't be as hard.

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