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.
More Quotes from Jared Bernstein:
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.Jared Bernstein
This report may give pause to some of the optimists looking for a stronger second half, ... We need a real boost if we're going to reverse some of these trends that are even more negative than we thought they were.
Jared Bernstein
Nationally we think it's impossible to say exactly when we've reached full employment. But it sounds like in Florida you're there.
Jared Bernstein
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.
Jared Bernstein
will make it harder for working families to truly get ahead.
Jared Bernstein
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.
Jared Bernstein
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