Yet this peppering of data notwithstanding, economists are not too sanguine about the immediate prospects for income growth on the bottom rungs of the wage scale. The job market is slowly tightening, ... We are wringing out the slack. But we're only six months into a process that could take a year and a half.
More Quotes from Jared Bernstein:
American companies really haven't been sinking much of their gains back into domestic investment.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
This doesn't look like a significantly different report than we've gotten in past months, but that's significant in itself. The labor market is clearly stuck in neutral.
Jared Bernstein
The inflation bar is very high right now, ... doesn't get you over.
Jared Bernstein
Inequality is growing in all parts of the country.
Jared Bernstein
These are workers who have the weakest bargaining leverage and are most likely to be exploited, particularly in a period where you have a weak labor demand and a large labor supply.
Jared Bernstein
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