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Today’s Jobs Report in Pictures

January 9, 2015

Today’s jobs report shows a labor market that strengthened significantly in 2014, but one that still bears scars from the Great Recession and subsequent federal budget cuts and other austerity policies that perpetuated a severe jobs slump even as the economy and business profits began to recover.

Employers added an average of 246,000 jobs a month in 2014 and unemployment...

Today’s Jobs Report in Pictures

December 5, 2014

Today’s solid jobs report shows a continuing labor market recovery, but one in which unemployment — especially long-term unemployment — remains high relative to recent recoveries.  With inflation running below its 2 percent target, the Federal Reserve faces little or no danger of igniting unacceptable inflation by keeping interest rates low to encourage further job market improvements. ...

Today's Jobs Report in Pictures

November 7, 2014

Today's solid jobs report shows the labor market continues to improve in important ways but that wage growth continues to languish.  That suggests the Federal Reserve should wait until the labor market improves enough to boost wages before beginning to raise interest rates.

Click here for my statement...

Why We Should Give Wages Room to Grow

October 17, 2014

My latest post for U.S. News’ Economic Intelligence blog shows that American workers have been shortchanged in the recovery from the Great Recession and explains why the projected...

Ryan’s Call for "Dynamic Scoring" in Tax Reform Would Invite More Mischief

October 3, 2014

“The reality of tax reform . . . is that any politically feasible plan to scale back tax benefits doesn’t generate enough money to significantly cut tax rates without increasing the deficit,” my ...

Today’s Jobs Report in Pictures

October 3, 2014

Today’s generally solid report shows that job creation is back on an over-200,000-a-month track after slowing sharply in August.  Nevertheless, there appears to be substantial room for further expansion, allowing the Federal Reserve to keep interest rates low in pursuit of high employment without igniting unacceptable inflation.  Moreover, policymakers should not be concerned about inflation...

Today’s Jobs Report in Pictures

September 5, 2014

Today’s disappointing jobs report, while perhaps only a temporary blip in an ongoing labor market recovery, is nevertheless a sober reminder of how devastating the Great Recession and subsequent prolonged jobs slump has been for American workers.  In particular, the share of the population with a job, which plunged to low levels not seen since the early 1980s, has since risen only modestly...

Today’s Jobs Report in Pictures

August 1, 2014

Today’s solid jobs report shows a labor market that is moving in the right direction but still has a ways to go before everyone who would like to be working has a reasonable chance of finding a suitable job.  In particular, Congress dealt the long-term unemployed a harsh blow when it allowed federal emergency jobless benefits to expire prematurely at the end of last year.  Seven months later,...

Today’s Jobs Report in Pictures

July 3, 2014

Today's jobs report contains encouraging signs that the labor market is healing but also reminders that it remains far from fully healed.  Payroll employment jumped by 288,000 in June and the unemployment rate fell to 6.1 percent.  While employment increased sharply and unemployment fell, there was little net growth in the labor force, leaving the percentage of people with a job well below...

Emergency Jobless Benefits Cut-Off Has Hit Nearly 300,000 Veterans

June 24, 2014

The number of jobless veterans who’ve lost access to federal jobless benefits since Congress allowed Emergency Unemployment Compensation (EUC) to expire at the end of last year — which we estimated at the end of February was close to 200,000 and counting — will reach an...

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