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.
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
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.
Jared Bernstein
My problem with the Bush plan is that it's so ideologically problematic that now these guys are going to have to argue about it for a month or two. That's bad because we need to inject stimulus into the economy quickly.
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
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.
Jared Bernstein
This isn't an administration that wakes up and says 'what can we do for the working class family today,'
Jared Bernstein
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