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Letter "J" » Jared Bernstein Quotes
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«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.»
Author: Jared Bernstein
«Even in the likely event that the fall in labor market participation is partially reversed in coming months, it is still indicative of the recession's continued impact on the labor market. Most of the relevant cyclical indicators in [Friday's] report support this more pessimistic interpretation, suggesting that the drop in unemployment does not imply the end of the recession.»
Author: Jared Bernstein
«(The) 43,000 new jobs is much too small a number to lower the unemployment number. The unemployment report underscores that the recovery is off to a slow start. The Fed will most certainly not raise (interest) rates in the near-term.»
Author: Jared Bernstein
«The private sector's just not generating enough jobs here, and I would love to see some of the policy-makers in [Washington] wake up and take notice.»
Author: Jared Bernstein
«The weakness in the labor market is clearly reducing the growth of earnings, meaning consumers, most of who depend on their paychecks, are likely to remain insecure about where the economy is headed. This in turn has the potential to constrain consumption growth, limiting the boost that the economy will get from the recent tax cut, and delaying the arrival of a truly self-sustaining recovery.»
Author: 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.»
Author: Jared Bernstein
«When income growth is concentrated at the top of the income scale, the people at the bottom have a much harder time lifting themselves out of poverty and giving their children a decent start in life.»
Author: Jared Bernstein
«Inequality is growing in all parts of the country.»
Author: 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.»
Author: Jared Bernstein
«These results reveal the breadth of the unprecedented gap between the pace of overall economic progress and the returns to working people.»
Author: Jared Bernstein
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