Economists said the data suggested a long-awaited change in the outlook of employers, a movement away from years of reluctance to add new workers. The rate of job creation from 2000 through mid-'04 was just stuck in the cellar, ... and this was an underappreciated, ongoing cause of the jobless recovery.
More Quotes from Jared Bernstein:
I've been pretty happy to see the pace of job growth in professional services.Jared Bernstein
It's too soon to call this a 'jobless' recovery, ... but another quarter or two of these types of reports, and that probably will be a relevant title.
Jared Bernstein
Maybe by the second quarter of next year, we'll be looking at some lower unemployment rate -- say in the 5 to 5.5 percent range, if we're lucky. But that would be the best to hope for, and it's based on our working through these excesses that persist.
Jared Bernstein
The jobless recovery remains with us, and the job machine is stuck in neutral at this point.
Jared Bernstein
These losses may reflect the fact that consumers facing higher energy prices and falling real inflation-adjusted wages are cutting back on discretionary spending.
Jared Bernstein
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.
Jared Bernstein
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Based on Topics: Economics QuotesBased on Keywords: long-awaited, underappreciated
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