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Chad Stone
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Chad Stone is Chief Economist at the Center on Budget and Policy Priorities, where he specializes in the economic analysis of budget and policy issues.

He was the acting executive director of the Joint Economic Committee of the Congress in 2007 and before that staff director and chief economist for the Democratic staff of the committee from 2002 to 2006. He was chief economist for the Senate Budget Committee in 2001-02 and a senior economist and then chief economist at the President’s Council of Economic Advisers from 1996 to 2001.

Stone has been a senior researcher at the Urban Institute and taught for several years at Swarthmore College. His other congressional experience includes two previous stints with the Joint Economic Committee and a year as chief economist at the House Science Committee. He has also worked at the Federal Trade Commission, the Federal Communications Commission, and the Office of Management and Budget. Stone is co-author, with Isabel Sawhill, of Economic Policy in the Reagan Years. He holds a B.A. from Swarthmore College and a Ph.D. in economics from Yale University.

Entries by Chad Stone

Obama Budget Modernizes Policies for Unemployed Workers

(1) Comments | Posted February 11, 2016 | 2:08 PM

The President's budget includes a very welcome suite of proposals to modernize assistance for workers who lose their jobs through no fault of their own.  The proposals recognize that today's labor market is vastly different from the one for which unemployment insurance (UI) was designed in 1935 -- when...

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Previewing the January Jobs Report

(0) Comments | Posted February 4, 2016 | 12:03 PM

Those brave enough to predict think that tomorrow's jobs report will show a net gain of 188,000 payroll jobs (compared with 292,000 in December) and an unchanged 5.0 percent unemployment rate.  Unless tomorrow's numbers are substantially different from that, they shouldn't change the prevailing narrative that labor market conditions...

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Previewing the December Jobs Report

(0) Comments | Posted January 8, 2016 | 2:48 PM

Tomorrow's December jobs report is the first since Federal Reserve policymakers lifted their target for short-term interest rates off zero.   That's a very small step, and policymakers didn't claim that the labor market was fully healed.  If they remain true to their word, the path of future rate hikes...

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What You Need to Know About the October Jobs Report

(0) Comments | Posted November 5, 2015 | 5:32 PM

No one knows how tomorrow's October jobs report will affect Federal Reserve policymakers' views about whether to start raising interest rates in December.  But here are some things to consider in assessing whether the job market is making the "continued progress toward maximum employment" that the Fed wants to see.

...
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What to Watch for in the September Jobs Report

(0) Comments | Posted October 1, 2015 | 6:36 PM

Federal Reserve Chair Janet Yellen recently noted two salient facts about the labor market that tomorrow's jobs report won't change:

The labor market has achieved considerable progress over the past several years. Even so, further improvement in labor market conditions would be welcome because we are probably not...

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May's Jobs Report in Pictures

(0) Comments | Posted June 5, 2015 | 3:11 PM

Today's strong jobs report shows continued solid growth in payroll employment (see chart), and many other labor market indicators have recovered substantially since the Great Recession. Nevertheless, the Federal Reserve should not rush to raise interest rates. By testing whether it can push unemployment lower -- rather than play it...

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The March Jobs Report in Pictures

(1) Comments | Posted April 3, 2015 | 12:20 PM

Today's lackluster employment report shows that despite substantial job market improvements over the last year or so, the Federal Reserve should not yet start raising interest rates to prevent the economy from overheating and producing unacceptable inflation. There's still too much labor market "slack" (too many people who want to...

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The February Jobs Report in Pictures

(0) Comments | Posted March 6, 2015 | 1:31 PM

Today's solid jobs report shows that private employers have added jobs every month for five straight years. Unemployment has dropped sharply, though it has room to fall further. To herald a truly healthy labor market, however, labor force participation should be higher -- it fell in February as more people...

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The January Jobs Report in Pictures

(0) Comments | Posted February 6, 2015 | 12:13 PM

Today's strong jobs report shows continuing labor-market improvement but also continuing significant "slack" -- people who are not working but want to be, or people who want to work full-time but can only find part-time jobs. Prominent among those struggling to find work are the roughly three in 10 jobless...

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The December Jobs Report in Pictures

(0) Comments | Posted January 9, 2015 | 12:10 PM

Today's jobs report shows a labor market that strengthened significantly in 2014, but one that still bears scars from the Great Recession and subsequent federal budget cuts and other austerity policies that perpetuated a severe jobs slump even as the economy and business profits began to recover.

On the...

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The November Jobs Report in Pictures

(0) Comments | Posted December 5, 2014 | 12:09 PM

Today's solid jobs report highlights a continuing labor market recovery, but one in which unemployment -- especially long-term unemployment -- remains high relative to recent recoveries (see chart). With inflation running below its 2 percent target, the Federal Reserve faces little if any danger of igniting unacceptable inflation by keeping...

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The September Jobs Report in Pictures

(1) Comments | Posted October 3, 2014 | 1:03 PM

Today’s generally solid report shows that employers are back on track creating more than 200,000 jobs a month after a dip in August (see chart).  Nevertheless, the economy has substantial room for further expansion, allowing the Federal Reserve to keep interest rates low to spur higher employment without igniting unacceptable...

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The July Jobs Report in Pictures

(0) Comments | Posted August 1, 2014 | 1:19 PM

Today’s solid jobs report shows a labor market that’s moving in the right direction but still has a ways to go before everyone who wants to work has a reasonable chance of finding a suitable job.  Long-term unemployment (more than 26 weeks) remains a particular problem, and Congress dealt the...

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The April Jobs Report in Pictures

(3) Comments | Posted May 2, 2014 | 12:47 PM

Today’s mixed jobs report shows a big jump in payroll employment but a sharp fall in labor force participation.  The labor market is clearly much stronger than in the depths of the Great Recession but still far from the “maximum employment” goal that Congress has mandated the Federal Reserve to...

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The March Jobs Report in Pictures

(0) Comments | Posted April 4, 2014 | 2:40 PM

Today's solid jobs report shows a labor market that continues to improve gradually, but that remains far from healed. With the share of the population with a job stuck at recession levels (see chart) and long-term unemployment still very high, it's too soon for the Federal Reserve to begin raising...

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The February Jobs Report in Pictures

(2) Comments | Posted March 7, 2014 | 11:36 AM

With today’s jobs report, marking the fourth anniversary of the start of the private-sector jobs recovery (see chart), the pace of overall job creation (private plus government jobs) over that period has now averaged just 168,000 a month — well below the 200,000 to 300,000 jobs a month that a...

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The January Jobs Report in Pictures

(0) Comments | Posted February 7, 2014 | 12:17 PM

Today’s jobs report offers mixed views of the job market, with employers reporting only modest additions to their payrolls but households reporting large employment gains.  The usually more reliable payroll survey portrays a labor market that is healing only slowly from the Great Recession and subsequent protracted jobs slump (see...

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Where Things Stand for the Unemployed

(0) Comments | Posted January 14, 2014 | 4:44 PM

With last month's expiration of emergency federal jobless benefits, only regular state unemployment insurance (UI) benefits are available to qualifying workers who lose their jobs through no fault of their own.  As a result, the maximum number of weeks of benefits fell to 26 in most states (seven states...

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The December Jobs Report in Pictures

(0) Comments | Posted January 10, 2014 | 1:19 PM

Today’s surprisingly disappointing jobs report should temper recent optimism of an improving labor market in 2014.  The climb back to normal levels of employment remains steep.  Most notably, the labor force shrank, the share of Americans with a job remains near its low during the Great Recession (see chart), and...

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Congress Should Restore Federal Jobless Benefits

(0) Comments | Posted January 6, 2014 | 3:07 PM

Congress can redress a serious problem that it created last month by quickly enacting legislation, from Senators Jack Reed (D-RI) and Dean Heller (R-NV), to provide a retroactive three-month extension of the Emergency Unemployment Compensation (EUC) program and using the time to craft a solution for the rest of the...

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