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Austerity Still Bites

February 12, 2013

The American Taxpayer Relief Act (the “fiscal cliff” deal of early January) dialed back the fiscal restraint that was scheduled to take effect — enough, in fact, that the Congressional Budget Office (CBO) baseline economic forecast no longer shows the economy contracting in 2013.  Nevertheless,...

Today's Jobs Report in Pictures

February 1, 2013

Employers continued to add jobs in January, but the economy must grow faster to bring unemployment down more quickly -- and scheduled across-the-board budget cuts would only make that harder.

Below are some charts to show how the new figures look in historical context. See my full statement with further...

Today's Jobs Report in Pictures

January 4, 2013

The economy added private sector jobs for the 34th straight month in December, but a robust recovery remains elusive, long-term unemployment remains very high, and threats to the economy from misguided policies in Washington remain significant.

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

The Real Danger to the Economy

December 14, 2012

My latest post for U.S. News explains why the real danger to the economy isn’t the so-called “fiscal cliff” but rather the Republican threat — as outlined most recently in...

Why We Should Renew Federal Emergency Unemployment Insurance, Part 2

December 7, 2012

Part 1 of this post discussed the adverse consequences for the long-term unemployed and the economy if lawmakers let emergency federal unemployment insurance (UI) expire at the end of the month.  As explained below, it would also be unprecedented to let the program expire when the...

Today's Jobs Report in Pictures

December 7, 2012

Beyond the surprising news that Hurricane Sandy had little effect on overall job creation and unemployment, today’s report paints a familiar picture of moderate job creation and stubbornly high unemployment.  Though unemployment fell, that’s because the labor force shrank, not because employment opportunities expanded.

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

Why We Should Renew Federal Emergency Unemployment Insurance, Part 1

December 5, 2012

My latest US News & World Report blog post urges policymakers to address the scheduled expiration of federal emergency unemployment insurance at the end of this year:

Policymakers must not let emergency...

Today's Jobs Report in Pictures

November 2, 2012

Today’s jobs report shows that the economy continues to add jobs but has yet to erase the huge job losses from the Great Recession (see first chart below). The unemployment rate has come down more than two points from its peak, but remains too high for policymakers to let emergency federal unemployment insurance (UI) expire, as it is scheduled to do, at the end of this year.
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For Perspective on Today’s GDP Report, Check Out Our Chart Book

October 26, 2012

With the Commerce Department reporting today that the economy grew at a 2.0 percent annual rate in the third quarter, you might want to check out our chart book, which documents the course of the economy following the 2007-2009 recession.  It shows how deep a hole the recession created — and how much deeper that hole would...

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...

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