September's generally solid report shows that employers are back on track creating more than 200,000 jobs a month after a dip in August.
Nevertheless, the economy has substantial room for further expansion, allowing the Federal Reserve to keep interest rates low to spur higher employment without igniting unacceptable inflation.
Moreover, policymakers should not worry about inflation even if wages begin to grow faster than they have so far in the recovery. Read more
- Where Things Stand for the Unemployed
- Key Things to Know About Unemployment Insurance
- How Many Weeks of Unemployment Compensation Are Available?
Minimum wage laws set the lowest hourly rate an employer can legally pay workers covered under the law. The federal minimum wage is currently $7.25 per hour. Where states and municipalities have enacted their own, higher, minimum wage laws, employers must pay at least the state or local minimum. As of August 1, 2014, 23 states and the District of Columbia have minimum wages above the federal minimum wage.
This Policy Basic explains various aspects of the minimum wage, including:
- Who Is Covered by the Minimum Wage?
- Who Is Paid the Minimum Wage?
- History of the Minimum Wage
- Economic Effects of Raising the Minimum Wage
- Current Proposals
A recession is a significant decline in the size of the U.S. economy lasting more than a few months, normally visible in a variety of economic indicators. Economic stimulus policies aim to avert a recession or lessen its severity by boosting the economy in the short term. The unemployment insurance system helps people who have lost their jobs by temporarily replacing part of their wages, typically for up to 26 weeks.
- The Legacy of the Great Recession
Paul Van de Water
The Center examines the impact of changes in the economy on federal and state budgets, as well as the likely effectiveness of economic stimulus proposals. We also examine trends in employment and promote reforms to strengthen the unemployment insurance system.
October 31, 2014
Updated October 27, 2014
Updated October 7, 2014
October 3, 2014
August 27, 2014
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