Special Series: Economic Recovery Watch
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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 … -
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 … -
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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New CBO Report Finds Hundreds of Thousands of People Still Owe Their Jobs to the Recovery Act
Updated May 29, 2012
A new Congressional Budget Office (CBO) report estimates that the American Recovery and Reinvestment Act (ARRA) increased the number of people employed by between 200,000 and 1.5 million jobs in March.[1] In other words, between 200,000 and 1.5 million people employed in March owed their jobs to the Recovery Act. This estimate, … -
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 … -
Video: Chad Stone and Hannah Shaw Discuss the March Employment Report
April 6, 2012
Chad Stone, Chief Economist, and Hannah Shaw, Research Associate, discuss the disappointing jobs report for March and what it indicates about job creation and economic growth. Click the video for the full discussion. -
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 … -
New CBO Report Finds Up to Two Million People Still Owe Their Jobs to the Recovery Act
Updated February 24, 2012
View the most recent version of this report: New CBO Report Finds Hundreds of Thousands of People Still Owe Their Jobs to the Recovery Act Updated May 29, 2012 A new Congressional Budget Office (CBO) report estimates that the American Recovery and Reinvestment Act (ARRA) increased the number of people employed by between 300,000 and 2 million jobs … -
Video: Jared Bernstein Discusses the January Employment Report with Chad Stone
February 3, 2012
Jared Bernstein, Senior Fellow, and Chad Stone, Chief Economist, discuss what the encouraging January employment report indicates about job creation and economic growth.
Chad Stone: “We’re smiling and the markets are smiling and this is actually a good jobs report. It’s one of the few good jobs reports we’ve had in this recovery. We had 240,000 jobs on private and government payrolls combined. 257,000 jobs in the private sector. 23 straight months of private sector job creation. Another two years of that, we’ll have erased the hole that got created by the Great Recession.”
Duration: 4:32
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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 … -
Testimony of Jared Bernstein Before the House Committee on Education and the Workforce
February 1, 2012
Chairman Kline, Ranking Member Miller, and members of the Committee, I thank you for the opportunity to testify today and applaud you for holding this hearing on the issue that matters most to most Americans right now: opportunity, jobs, and the living standards of the broad middle class. Introduction: Current Conditions and the American Middle … -
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 …
