This report shows a race between factors boosting net worth such as home ownership and factors pushing the other way such as weak wage growth. Unless we start to see better income growth from jobs and wages, it is hard to see major gains in net worth for the typical family.
More Quotes from 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
If you're a native high school dropout in this economy, you've got a slew of problems of which immigrant competition is but one, and a lesser one at that.
Jared Bernstein
This is what a healthy job market looks like we just haven't seen it for a long while, so it makes inflation hawks nervous.
Jared Bernstein
I've been pretty happy to see the pace of job growth in professional services.
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
This is a tremendously detailed, comprehensive look at the American family's balance sheet and it ain't pretty.
Jared Bernstein
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