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Failure to Continue Jobless Benefits Would Undo Budget Deal's Economic Boost

December 11, 2013

The Murray-Ryan budget deal provides a stimulative boost to the economy — albeit a modest one.  But here’s the rub:  the economic drag caused by lawmakers’ failure to include an extension of federal emergency jobless benefits in the deal would likely negate that stimulus.

Economist Joel Prakken of Macroeconomic...

On Emergency Jobless Benefits, Don’t Be Fooled by November’s Drop in Unemployment

December 10, 2013

November’s drop in unemployment to 7.0 percent was obviously welcome, but policymakers should not conclude that they can now justifiably let federal emergency unemployment insurance (UI) expire at the end of this year.  That’s because a look only at the unemployment rate provides too optimistic a picture of...

Things Looking Up at the Top, New Figures Show

December 6, 2013

Incomes at the top have started rebounding from their sharp decline in the financial crisis and Great Recession, new figures from the Congressional Budget Office confirm — just as they rebounded strongly from the dot-com collapse of the early 2000s (...

Today's Jobs Report in Pictures

December 6, 2013

Labor market conditions are significantly better than they were in the depths of the Great Recession in 2008-09. Nevertheless, nonfarm payroll employment is not yet back to where it was at the start of the recession in December 2007, unemployment is still much too high — especially long-term unemployment — and the share of the population with a job remains well below what it would be in a...

Hardship in America, 2013: Unemployment Benefits for Long-Term Jobless Set to Expire

November 25, 2013

The slow economic recovery continues to take a toll on workers.  The share of the population with a job, which hit 62.7 percent at the start of the Great Recession in December 2007, has remained below 60 percent since early 2009 and dropped to 58.3 percent in October.

Many jobless workers —...

Who’s to Blame for the Slow Economy?

November 22, 2013

Wall Street Journal columnist Daniel Henninger blames President Obama for the weak recovery from the Great Recession, but...

More Than a Million Americans Will Lose Jobless Benefits at Year’s End Without Congressional Action

November 21, 2013

Legislation proposed in the House and Senate yesterday would renew the Emergency Unemployment Compensation (EUC) program through 2014, providing critical support for long-term unemployed Americans.  That’s important because, without congressional...

Jobless Workers Facing Unhappy New Year’s

November 15, 2013

My latest post for U.S. News & World Report’s Economic Intelligence blog warns that jobless benefits will end abruptly for...

Today's Jobs Report in Pictures

November 8, 2013

Today’s jobs report, which is colored by October’s federal government shutdown, sends distinctly mixed signals about the job market. The employer survey shows much greater job creation than analysts expected, while the household survey shows that significant weaknesses persist. Either way, unemployment remains stubbornly high and too many people have been out of work too long.

Fix the Jobs Deficit First (It Can Help Fix the Debt)

October 28, 2013

My latest post for U.S. News & World Report’s Economic Intelligence blog notes that private employment is still 1.3 million jobs short of where it was when the Great...