112 ordspråk av Jared Bernstein

Jared Bernstein

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Folks at the top of the income scale definitely notice when they're paying $3.50 a gallon for gasoline. But for them, that doesn't necessarily mean they are going to have to cut back elsewhere, ... Younger families have lower incomes.

I'm more optimistic than I was a month and a half ago,

He talks about lending a helping hand to the poor and disadvantaged. But these policies push the other way, toward lower wages and less racial inclusion.

Nationally we think it's impossible to say exactly when we've reached full employment. But it sounds like in Florida you're there.

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.

This is a pretty negative report. The reason unemployment ticked down is the labor force contracted. That suggests fewer people are getting into the game, looking for work, and that kind of discouragement can lead to a lower unemployment rate.

The economy looks pretty snappy from 30,000 feet, but when you get down and look at how actual working families are doing, they're falling behind year after year.

While we continue to generate middle-class jobs, I would say we're doing so at a slower pace than we have in the past.

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.

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.

The main reason for that appears to be the fact that the job market has yet to generate the kind of increases in living standards you'd expect at this point.

Unless working families can give up food and gas, this combination of slow wage growth and faster inflation continues to pinch.

[They also focus on two areas - healthcare and energy - where inflation is eating away at spending power.] You either need wages to pick up or inflation to slow down, ... There may be a bit of both in coming months.

These losses may reflect the fact that consumers facing higher energy prices and falling real [inflation-adjusted] wages are cutting back on discretionary spending.

[Yet this peppering of data notwithstanding, economists are not too sanguine about the immediate prospects for income growth on the bottom rungs of the wage scale.] The job market is slowly tightening, ... We are wringing out the slack. But we're only six months into a process that could take a year and a half.

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