“When you’re down, and troubled, and you need a helping hand…” Last Friday’s jobs report confirmed a weakening trend in employment growth and an unemployment rate stuck north of 8%. We’re still growing, and most industries outside of the public sector are adding jobs, but too slowly. Other important indicators, most notably real GDP growth,… Read more
Here’s me and the great labor economist Larry Mishel discussing some of his recent work on the gap between the real compensation of middle-wage workers and productivity growth. Understanding this issue has become central to the inequality debate and Larry — who’s also the president of the Economic Policy Institute — understands it deeply. One… Read more
I’ve been swamped all week and thus unable to sit down and plot the economic data of the moment. I might get to that later, but until then, here’s a quick, informal assessment of current conditions. –The bottom line is that we’re slogging along at trend–about 2% of GDP–and probably will be for the near… Read more
The articles on the Fed’s Survey of Consumer Finance release from yesterday give you an excellent flavor of the magnitude of what’s been lost in the Great Recession. But I haven’t seen this figure posted yet (though I may have missed it somewhere, of course). It’s simply the trend in real median net worth from the… Read more
Over at MSNBC online. Glad to see this issue getting some buzz.