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Top Incomes Shot Up Last Year, New Figures Show

September 11, 2013

The average before-tax income of the richest U.S. households rose sharply in 2012, according to an analysis of preliminary 2012 tax return data by economist Emmanuel Saez.  By some measures, the top households had the largest share of the nation’s total before-tax income on record, in statistics computed by Saez and his...

Today's Jobs Report in Pictures

September 6, 2013

Today’s disappointing jobs report shows that labor market conditions continue to improve only at a glacial pace compared with what’s needed to restore employment to normal levels. Unemployment remains too high and the share of the population with a job remains depressed at levels last seen in the 1980s (see chart). Under these conditions, it’s disappointing that the Federal Reserve will...

Today's Jobs Report in Pictures

August 2, 2013

Today’s jobs report shows a familiar pattern. Private employers added jobs for the 41st straight month, yet nonfarm payroll employment remains lower than it was at the start of the recession in December 2007. It’s well below what’s required for full employment. The unemployment rate fell to 7.4 percent, but as Federal Reserve Chairman Ben Bernanke stated recently, the current unemployment...

CBO Immigration Cost Estimate Doesn’t Support Use of “Dynamic Scoring” for Tax Reform

July 24, 2013

Some members of Congress are claiming that the Congressional Budget Office (CBO) and Joint Committee on Taxation (JCT) used “dynamic scoring” to estimate the budgetary effects of the Senate immigration bill and should do the same for tax bills, starting with tax reform.  But they’re off base on the immigration bill, and their call for dynamic scoring for tax reform is an invitation for fiscal...

The State of the Economy

July 24, 2013

With President Obama taking to the bully pulpit to discuss the economy, you might want to look at our chartbook, The Legacy of the Great Recession.  It illustrates the challenge we face.  The economy has grown for 15 straight quarters and private employers have added jobs for 40 straight months, yet employment levels remain...

The June 2013 Jobs Report in Pictures

July 8, 2013

Friday’s employment report showed that payroll employment grew by 195,000 jobs in June and the unemployment rate held steady at 7.6 percent.  The charts below provide historical context for the latest figures.  You can see more in our chartbook.

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The Debt Ceiling: Scrap It or Adopt the Danes’ Great Approach

June 14, 2013

Debt-ceiling silly season has returned, my latest post for the US News & World Report Economic Intelligence blog...

Today's Jobs Report in Pictures

June 7, 2013

Today’s jobs report shows that employers continued to add jobs in May, but total employment (private and government combined) remains well below its level at the December 2007 start of the Great Recession. Job losses were far greater than in other recent recessions, and the pace of job recovery has been no faster than it was from the much milder 2001 recession — partly due to federal fiscal...

Fed Right to Be Focusing on Jobs

May 30, 2013

I wrote recently for the US News & World Report Economic Intelligence blog about Federal Reserve Chairman Ben Bernanke’s testimony before the...

SNAP Enrollment Is Still So High Because the Job Market Is Still So Bad

May 17, 2013

My latest post for U.S. News & World Report’s Economic Intelligence blog addresses conservative critics’...

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