Reports by Chad Stone
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Statement by Chad Stone, Chief Economist, on the November Employment Report
December 7, 2012
Beyond the surprising news that Hurricane Sandy had little effect on overall job creation and unemployment, today’s report paints a familiar picture of moderate job creation and stubbornly high unemployment (see chart). Though unemployment fell, that’s because the labor force … -
Statement by Chad Stone, Chief Economist, on the October Employment Report
November 2, 2012
As today’s jobs report shows, the economy continues to create jobs but not fast enough to erase the huge job losses from the Great Recession (see chart). The unemployment rate has dropped more than two points from its peak, but it remains too high for policymakers to let emergency … -
A Guide to Statistics on Historical Trends in Income Inequality
Revised October 23, 2012
The broad facts of income inequality over the past six decades are easily summarized: The years from the end of World War II into the 1970s were ones of substantial economic growth and broadly shared prosperity. Incomes grew rapidly and at roughly the same rate up and down the income ladder, roughly doubling … -
Payroll Tax Cut and Emergency Unemployment Insurance Still Needed to Support the Recovery
October 16, 2012
Among the various tax and spending measures scheduled to expire at the end of this year, the temporary payroll tax cut enacted in 2010 and emergency federal unemployment insurance (UI) are among the most cost-effective at supporting the economic recovery without endangering efforts to control long-term deficits and debt. Given the state … -
Statement by Chad Stone, Chief Economist, on the September Employment Report
October 5, 2012
Today’s jobs report sent mixed signals about the overall job market but left no doubt that long-term unemployment remains a significant problem — making clear that policymakers must not let emergency federal unemployment insurance (UI) expire at the end of the year. Two-fifths of the … -
Misguided “Fiscal Cliff” Fears Pose Challenges to Productive Budget Negotiations
Updated September 24, 2012
The sooner policymakers enact legislation to put the budget on a sustainable long-term path without threatening the vulnerable economic recovery, the better. But, as they prepare for an almost certain post-election "lame duck" session of Congress, policymakers should not make budget decisions with long-term consequences based … -
Statement by Chad Stone, Chief Economist, on the August Employment Report
September 7, 2012
Today’s disappointing jobs report shows that despite 30 straight months of private-sector job creation — including 103,000 new private-sector jobs in August — unemployment will likely remain high for the foreseeable future, suggesting policymakers should extend federal … -
Statement by Chad Stone, Chief Economist, on the July Employment Report
August 3, 2012
Today’s jobs report showing some pickup in job creation does not reduce the need for policymakers to implement measures to give the flagging recovery a needed boost, including preparing to extend emergency federal unemployment insurance (UI) past its scheduled expiration at the end of the … -
Statement by Chad Stone, Chief Economist, on the June Employment Report
July 6, 2012
The weak June employment report shows that it remains difficult to find a job in today’s job market, especially for the long-term unemployed (those who have been looking for work for 27 weeks or longer). The percentage of people in the labor force who are long-term unemployed remains … -
Statement by Chad Stone, Chief Economist, on the May Employment Report
June 1, 2012
Today’s disappointing employment report shows that the labor market remains far below full strength. The unemployment rate edged up to 8.2 percent and forecasters expect it to remain near 8 percent by the end of the year, which has important implications for the current temporary … -
Video: Jared Bernstein and Hannah Shaw Discuss the May Employment Report
June 1, 2012
Jared Bernstein, the Center’s Senior Fellow, and Hannah Shaw, one of the Center’s Research Associates, discuss the policy implications of the disappointing jobs report for May.
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Statement: Chad Stone, Chief Economist, on the April Employment Report
May 4, 2012
Today’s employment report shows that April’s job growth was disappointing for the second straight month and that the economic costs in terms of fewer jobs, less income, and lower growth remain very high. In particular, the number of workers in the Labor Department’s … -
Statement by Chad Stone, Chief Economist, on Pending House Tax Cut and House Committee SNAP Benefit Cuts
April 18, 2012
The House majority is pursuing legislation this week that makes no economic sense. The full House will pass a $46 billion tax cut that’s advertised as a “job-creating” measure, while the House Agriculture Committee approved a plan today to save $36 billion by cutting the … -
Statement: Chad Stone, Chief Economist, on the March Employment Report
April 6, 2012
Today's jobs report disappointed expectations, with employers adding only 120,000 jobs in March, making clear that a strong jobs recovery remains elusive. The unemployment rate dipped to 8.2 percent, but that decline reflected people leaving the labor force, not finding jobs. The … -
Statement: Chad Stone, Chief Economist, on the February Employment Report
March 9, 2012
Today brought another solid monthly employment report. Nevertheless, the economic recovery still has a long way to go to erase the lingering effects of the Great Recession and restore full employment and a healthy labor market. Moreover, economic forecasters expect only modest economic growth … -
Incomes at the Top Rebounded in First Full Year of Recovery, New Analysis of Tax Data Shows
March 7, 2012
Incomes of the top 1 percent of households, which fell in the financial crisis and Great Recession, rose strongly in 2010, the first full year of the economic recovery, according to a new analysis by economist Emmanuel Saez.[1] The new analysis, which incorporates 2009 and 2010 IRS data into the historical series on pre-tax income created … -
Conference Agreement Far Better For Unemployed Workers and UI System Than Original House Bill
February 17, 2012
The conference agreement on legislation that continues federal emergency unemployment insurance (UI) gives unemployed workers a far better deal than UI legislation that the House passed last December. It also rejects extreme proposals in the House bill that would have changed the essential character of the UI system, which policymakers created … -
Statement: Chad Stone, Chief Economist, on the January Employment Report
February 3, 2012
Today's jobs report is encouraging, but we should judge it against the overall sluggishness of the economic recovery and a persistently large jobs deficit that remains after 23 straight months of private-sector job creation. Payroll employment is still 5.6 million jobs short of where … -
House Republican Proposal Would Undermine Foundation of Unemployment Insurance System
January 17, 2012
A provision that some policymakers may seek to include in legislation to extend the payroll tax cut through the end of 2012 would authorize the Secretary of Labor to let up to ten states per year use unemployment insurance (UI) funds for purposes other than paying benefits. The provision, part of the full-year payroll-tax bill … -
Hundreds of Thousands of Lower-Wage Workers, Many of Whom Worked for Decades, Would Be Denied Unemployment Insurance Under Provision Now Under Consideration
January 6, 2012
A provision that congressional negotiators will consider for legislation to extend the payroll tax cut through the end of 2012 would deny unemployment insurance (UI) to hundreds of thousands of lower-wage workers who worked for years or even decades, effectively paid UI taxes while they worked, and then were laid off. The provision, part … -
Statement: Chad Stone, Chief Economist, on the December Employment Report
January 6, 2012
Today’s employment report shows glimmers of hope for the job market, most notably the addition of 200,000 payroll jobs in December. Yet a strong jobs recovery remains elusive. The overall jobs deficit remains large, the labor force shrank for the second straight month, and the proportion …
