These numbers reveal a labor market that's not bouncing back quickly enough to absorb new entrants along with the people laid off during the downturn.
More Quotes from Jared Bernstein:
This decline in the jobless rate is certainly the largest drop we've seen in recent months, so it does suggest a stronger labor market than we expected.Jared Bernstein
There is no reason to believe...that Congress has authorized the Department of Labor to dramatically reduce coverage...taking overtime protection away from millions of workers. Yet that is exactly what the Department of Labor has proposed.
Jared Bernstein
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.
Jared Bernstein
A fundamental principle of our economic system is that the benefits of economic growth will flow to those responsible for their creation. When how fast your income grows depends on your position in the income scale, this principle is violated. In that sense, today's unprecedented gap between the growth of the typical family's income and productivity is our most pressing economic problem.
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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Based on Topics: Labor Quotes, People QuotesI wouldn't use the same color in a picture in more than one place.
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