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It’s a Slope, Not a Cliff

October 10, 2012

Will the bell toll on the economic recovery at midnight December 31st if policymakers allow the tax and spending changes required under current law to kick in — that is, if we go over the so-called “fiscal cliff”?  We’ve said no, and a...

Today's Job's Report in Pictures

October 5, 2012

Today’s jobs report gave mixed signals about the overall job market but left no doubt that long-term unemployment remains a significant problem. It is too soon for policymakers to let emergency federal unemployment insurance (UI) expire at the end of the year.

Below are some charts to show how the new figures look in historical context. Here is my...

Today's Jobs Report in Pictures

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 - the unemployment rate is likely to remain high for the foreseeable future.  The dip in the unemployment rate to 8.1 percent in August reflects a drop in labor force participation, not a strong labor market.


More Cuts Kick in for Federal Unemployment Benefits

September 4, 2012

The number of weeks of federal unemployment insurance (UI) for eligible workers fell this week under legislation that President Obama and Congress enacted in February.

Moreover, many workers could stop receiving benefits well before...

Extended Benefits Come to an End with Unemployment Still High

August 6, 2012

After this week, no state will provide additional weeks of emergency federal unemployment insurance (UI) payments through the Extended Benefits (EB) program, as federal UI benefits continue to wind down.  As we’ve...

Low- and Moderate-Income Tax Credits Deliver More Bang for the Buck Than High-Income Tax Cuts

August 3, 2012

In this week’s US News & World Report blog post, I discussed the policies that would most likely boost the flagging recovery at a time when the economy is suffering from excess unemployment and underutilized business capacity: ...

Today's Jobs Report in Pictures

August 3, 2012

Today's jobs report that showed some pickup in job creation in July 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 year.

Below are some charts to show how the new figures look in...

Three Key Messages on Sound Policy and the “Fiscal Cliff”

July 19, 2012

Given the hyperbolic negative reaction in some quarters to Senator Patty Murray’s (D-WA) recent...

Top Incomes Took Hit in Recession but Rebound Is Likely Underway

July 16, 2012

The Congressional Budget Office (CBO) released its latest estimates of the distribution of household income and federal taxes last week, updated to include 2008 and 2009 data. The report confirms that the financial crisis and recession took a toll on household incomes, especially at the very top (see chart).  But it also confirms that income...

Misguided Deficit and Inflation Fears Impeding the Recovery

July 13, 2012

My post this week for US News & World Report discusses how policymakers’ unwillingness to enact additional fiscal or monetary stimulus — the result of exaggerated fears about deficits and inflation —...