The recovery from the deep economic nosedive of last spring continues to lose steam, the latest jobs report shows. Job growth slowed further in November, long-term unemployment (27 weeks or more) kept rising, and, as in past recoveries, jobs are returning more slowly for Black and Hispanic workers than for white workers in a still-...
off the charts
POLICY INSIGHT
BEYOND THE NUMBERS
BEYOND THE NUMBERS
Jobs Report: Improvements Slowing, Jobs Hole Remains Deep
October 2, 2020
Despite improvements since April, the labor market remains devastated by the COVID-19 recession, today’s jobs report shows.
The crisis has imposed severe, ongoing hardship on tens of millions of...
6 Signs That the Labor Market Remains in Deep Trouble
September 4, 2020
Today’s jobs report shows a labor market that, despite improvements since April, remains devastated by the COVID-19 recession, as these six charts show. The crisis has imposed severe, ongoing hardship on...
People Already Facing Opportunity Barriers Hit Hardest by Massive April Job Losses
May 12, 2020
Most of the jobs lost in the first two months of the sharp economic downturn — most of which came in April — have occurred in industries that pay low average wages. As a result, the deep downturn has hit hardest at workers who already faced barriers to economic opportunity, including Latino and Black workers, workers without a...
Trump Rule Weakens SNAP’s Recession-Fighting Power
December 11, 2019
The Trump Administration’s new rule that severely limits access to SNAP (food stamps) for certain jobless individuals aged 18-50 who aren’t raising minor children in their homes is not only cruel; it amounts to economic malpractice.
An important feature of economic...
In a Recession, Put Deficit Concerns Aside
September 23, 2019
The economy is in the 124th month of the longest expansion on record, and while expansions don’t die from old age alone, fears are rising that a recession may be on the horizon. Recessions can hurt workers and their families in many ways, so policymakers should try to make them as short and shallow as possible. That means temporarily shelving longer-term deficit concerns and enacting anti-...
Economic Expansion Now Tied for Longest on Record
June 6, 2019
June 2019 is the 120th month since the Great Recession ended in June of 2009, tying this expansion for the longest on record with the expansion of 1991 to 2001 (see chart). This expansion will become the longest on record next month — barring an extremely unlikely collapse in economic activity that would prompt the National Bureau of Economic Research, the...
Treasury “Analysis” of Tax Bill Assumes What It Claims to Prove
December 12, 2017
The Treasury Department’s new one-page “analysis” of the Senate Finance Committee-passed tax bill purports to analyze how much more economic growth and revenue that bill would generate. In reality, it does no such thing. It first assumes what the growth will be and then...
Taxing College Endowment Income No Way to Pay for Regressive Tax Cuts
December 6, 2017
The House- and Senate-passed Republican tax bills each impose a 1.4 percent excise tax on the income from endowments of some private colleges and universities. The idea appears to stem from a larger proposal, as explained below, to boost educational opportunities for low- and moderate-income students. Congressional Republicans, however, are using the tax to help pay for tax cuts that mainly...
GOP Making Highly Unrealistic Claims for Wage Gains from Tax Cuts
November 13, 2017
In my latest post for US News & World Report’s Economic Intelligence, I discuss how Republicans’ claims that their tax cuts will give American workers a...
