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.
More Quotes from Jared Bernstein:
Many of our overall indicators are percolating along just fine, but the growth continues to elude many working families, especially those in the middle and low end.Jared Bernstein
Explaining the unique characteristics of this unbalanced recovery is more like 'Murder on the Orient Express' than finding a smoking gun in somebody's hands. There are a lot of suspects.
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We have welcomed past efforts by the Bureau to offer alternative poverty measures. Their most recent release, however, ignores critical innovations and omits essential costs like child care for working parents and thus represents a step backwards.
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American companies really haven't been sinking much of their gains back into domestic investment.
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I've been pretty happy to see the pace of job growth in professional services.
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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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