These top line numbers suggest we are into what's beginning to look like a jobless recovery. We simply can't drive unemployment down if we're only adding 30 or 40,000 jobs. So, basically, we're looking at a situation where the recovery is calling, but the labor market isn't really picking up the phone.
More Quotes from 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
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
In a strong economy, hours and output can both grow, so long as output grows at a faster rate, thus resulting in productivity growth. But... productivity can also grow in a slowdown or recession, when a decline in hours outpaces weak or nonexistent output growth.
Jared Bernstein
This is a tremendously detailed, comprehensive look at the American family's balance sheet and it ain't pretty.
Jared Bernstein
I think the fingerprints of a faltering job market are all over this report. We've got more people working, but they're failing to get ahead.
Jared Bernstein
I and others have been looking desperately for silver linings in this tragedy and if Katrina were to motivate Congress to look at this issue seriously, that would be great.
Jared Bernstein
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