Jobs

April Jobs Report

Update 530 — April Jobs Report:What Accounts for Hiring Slowdown? Last week’s Labor Department April jobs report showed the economy gained a net 266,000 jobs last month — much lower than expected. The surprising figure has led to debate about the efficacy and necessity of relief and reform measures.  But the problems the report revealed …

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Macro Reconciliation Act

Update 520 — Macro Reconciliation Act:Survey of Labor and Capital Markets 1Q21 Despite strong numbers coming out of the March jobs report, the economy still has 8.4 million fewer employed Americans than it did a year ago. With a new set of infrastructure proposals from the Biden administration on the table, the questions arise: how …

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Regular Disorder on the Hill

Update 509 — Regular Disorder on the Hill:House to Vote on Wage Hike Nixed in Senate Late last night, the Senate parliamentarian ruled the Democrats’ bill to raise the minimum wage to $15/hour ineligible for the $1.9 trillion reconciliation package. The House is expected to vote on the package tonight, with the wage hike, adopt …

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Recovery Still “Uncertain”

Update 508 — Recovery Still “Uncertain,”Powell Reminds Congress, Citing Jobs Lag In his first appearance before the 117th Congress, Federal Reserve Chair Jerome Powell presented the semi-annual Monetary Policy Report in hearings before Senate Banking yesterday and House Financial Services today.  Powell depicted an economy still suffering from the pandemic and warned of risk of …

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COVID’s Summer Hot Spots

Update 451: COVID’s Summer Hot SpotsArgue for Targeted, Automatic Relief Fix No economic relief or bill, regardless of size, will be scrupulously equitable as regards state, sector, class, generation, etc.  Nor would equity on every basis be optimal in all circumstances. Today, Montana and Vermont are both marginally affected by the Coronavirus.  Should relief for …

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Jobless Forecast: Deep Stasis

Update 449: Jobless Forecast: Deep Stasis,Out of the Free Fall, into a Long-Haul Stall The collective sigh of relief from workers and business owners seeing the 13.3 percent national unemployment figure for May may have come too soon. The figure is, at best, misleading. A 1.4 percent drop in unemployment, the best month-over-month figures since …

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A Startling Statistic to Open

Update 444 — A Startling Statistic to OpenThe Summer of Our Legitimate Discontent On Friday morning, Americans will confront the statistical reality of the coronavirus’ impact on jobs. If you wonder what 20 percent unemployment feels like, this is it. If it takes some getting used to, we all will have that chance — a …

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The COVID Economic Experience

Update 443: The COVID Economic Experiencefor Workers, Consumers, Employers, Investors Your economic experience of the impact of the coronavirus will reflect your role in the economy. Are you an “essential worker”? Can you work from home? Can you find the necessities of life as easily or cheaply as before? Are you buying scarce or rationed …

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