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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

The March Jobs Report in Pictures

(0) Comments | Posted April 4, 2014 | 1:40 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 | 10:36 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 | 11:17 AM

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 | 3:44 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 | 12:19 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 | 2:07 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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The November Jobs Report in Pictures

(1) Comments | Posted December 6, 2013 | 11:00 AM

Today’s jobs report makes clear that, despite improvements this year, the labor market is still not strong enough for policymakers to let emergency federal unemployment insurance (UI) expire as scheduled during Christmas week.  In particular, long-term unemployment remains much higher than when any of the emergency federal UI programs that...

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More Than a Million Americans Will Lose Jobless Benefits at Year's End Without Congressional Action

(0) Comments | Posted November 21, 2013 | 12:58 PM

Legislation proposed in the House and Senate yesterday would renew the Emergency Unemployment Compensation (EUC) program through 2014, providing critical support for long-term unemployed Americans.  That's important because, without congressional action, the EUC's benefits will end on December 31 for more than a million unemployed Americans who have been...

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The September Employment Report in Pictures

(0) Comments | Posted October 22, 2013 | 11:05 AM

Today’s jobs report shows that the labor market recovery remains disappointingly slow, with employment still well below normal levels and long-term unemployment still near historic highs (see chart).  As a result, policymakers should not let emergency federal unemployment insurance for the long-term unemployed expire at the end of December.  That...

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The August Employment Report in Pictures

(0) Comments | Posted September 6, 2013 | 10:34 AM

Today's disappointing jobs report shows that labor market conditions continue to improve only at a glacial pace compared with what's needed to restore employment to normal levels. Unemployment remains too high and the share of the population with a job remains depressed at levels last seen in the 1980s (see...

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The July Employment Report in Pictures

(4) Comments | Posted August 2, 2013 | 11:21 AM

Today’s disappointing jobs report reflects a familiar pattern.  Though private employers added jobs for the 41st straight month, nonfarm payroll employment remains lower than at the December 2007 start of the recession (see chart) — and well below what’s required for full employment.  The unemployment rate fell to 7.4 percent,...

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The May Employment Report in Pictures

(0) Comments | Posted June 7, 2013 | 10:58 AM

Today’s jobs report shows that employers continued to add jobs in May, but total employment (private and government combined) remains well below its level at the December 2007 start of the Great Recession (see chart).  Job losses were far greater than in other recent recessions, and the pace of job...

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The April Employment Report in Pictures

(0) Comments | Posted May 3, 2013 | 11:03 AM

Today’s jobs report shows that labor markets still bear the scars of the Great Recession despite 38 straight months of private-sector job growth and a drop in the unemployment rate from 7.9 percent to 7.5 percent since January.  Unemployment remains stubbornly high and many people who would likely have a...

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Yes, the Ryan Budget Is Contractionary

(0) Comments | Posted March 14, 2013 | 2:55 PM

If enacted, House Budget Committee Chairman Paul Ryan's budget would slow the economic recovery.  Chairman Ryan selectively uses Congressional Budget Office (CBO) analysis to argue that his budget offers long-term economic benefits, while dismissing CBO's finding -- in the very same report -- that austerity measures like those...

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The Recovery Has Hit a Soft Patch, but Could Slow Further under Sequestration (with Pictures)

(1) Comments | Posted February 1, 2013 | 10:38 AM

Employers continued to add jobs in January (see chart), but the economy must grow faster to bring unemployment down more quickly.  Instead, the recovery apparently has hit a soft patch, and both growth and job creation could slow further if policymakers let the automatic across-the-board budget cuts (known as “sequestration”)...

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Statement by Chad Stone, Chief Economist, on the December Employment Report

(1) Comments | Posted January 4, 2013 | 12:32 PM

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 (see chart), and threats to the economy from misguided policies in Washington remain significant.

Policymakers appropriately renewed federal emergency unemployment insurance (UI) through 2013 in this...

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Why We Should Renew Federal Emergency Unemployment Insurance, Part 2

(1) Comments | Posted December 7, 2012 | 3:29 PM

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 economy is as...

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Why We Should Renew Federal Emergency Unemployment Insurance, Part 1

(0) Comments | Posted December 5, 2012 | 12:15 PM

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 federal unemployment insurance fall through the cracks as they work to solve the...

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May's Disappointing Jobs Report

(1) Comments | Posted June 1, 2012 | 2:39 PM

Today's disappointing employment report shows that the labor market remains far below full strength. The unemployment rate edged up to 8.2 percent and forecasters expect it to remain near 8 percent by the end of the year, which has important implications for the current temporary federal unemployment insurance (UI) program....

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It's the Great Recession -- Not the Great Vacation -- That's Responsible for High Unemployment

(2) Comments | Posted December 16, 2011 | 4:44 PM

Two competing narratives frame the debate about why unemployment remains so high even though the economy has been growing for more than two years.

The mainstream "Great Recession" narrative holds that the economy fell into a deep hole in 2008 and has been climbing...

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