Archive for the ‘Jobs’ Category

Wage Theft Must Not Be Ignored

April 22nd, 2014

Here’s an important editorial on something I haven’t written enough about: wage theft, i.e., situations wherein “employees are forced to work off the clock, paid subminimum wages, cheated out of overtime pay or denied their tips.”  Sometimes this meshes with misclassification, another violation of labor law, wherein regular employers are classified as self-employed.  According to… Read more

Slack is Whack

April 21st, 2014

Just how much slack remains in the labor market? It’s a key question for the Fed, of course, which is explicitly gauging many indicators—not just unemployment—for signs of inflationary pressures.  Thus far, such pressures have been noticeably absent from their favored measure: the core PCE, which if anything, has decelerated of late.  Chair Janet Yellen… Read more

Summers on Infrastructure Needs

April 11th, 2014

If there’s something awry in the logic of Larry Summers’ argument here for more infrastructure investment, I certainly can’t see it.  Based on low real interest rates, still high unemployment particularly among blue-collar production and construction workers, and most of all, the need for productivity-enhancing investments in our aging public goods, Larry is very much… Read more

The Congressional Progressive Caucus Budget: A Vision for Our Time

April 9th, 2014

To open our full employment event last week, Larry Summers presented an extremely compelling case for the importance of using fiscal policy to close our persistent output gaps, lower unemployment, and repair some of the economic damage resulting from “austerity,” i.e., reducing budget deficits in weak economies. At the same time Larry was presenting this… Read more