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.
More Quotes from Jared Bernstein:
Maybe we were looking under the wrong rock.Jared Bernstein
The private sector's just not generating enough jobs here, and I would love to see some of the policy-makers in Washington wake up and take notice.
Jared Bernstein
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.
Jared Bernstein
We did not see the tremendous upsurge in injuries we thought we might get, ... It gets really difficult when it is tremendously hot during the night - not just when it is really hot days, but when it is really hot weeks.
Jared Bernstein
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.
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
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