iOS app Android app

Jared Bernstein
GET UPDATES FROM Jared Bernstein
 
Jared Bernstein is a Senior Fellow at the Center on Budget and Policy Priorities, former economist for the Obama administration, and a CNBC and MSNBC contributor.

Entries by Jared Bernstein

How Much Does Immigration Increase Poverty? Less than Robert Samuelson Thinks it Does

(20) Comments | Posted November 18, 2014 | 8:45 AM

It is a common mistake to overestimate the contribution of immigration to the increase in poverty. This week's purveyor of this erroneous association is the Washington Post's Robert Samuelson, who writes in the context of a discussion about immigration reform:

The influx of unskilled Hispanics has sharply boosted...
Read Post

October Jobs Report: First Impressions

(0) Comments | Posted November 7, 2014 | 3:55 PM

The US job market continues to truck along at a solid clip, with payrolls adding over 200,000 jobs for the ninth straight month -- including 214,000 last month -- the unemployment rate ticking down to 5.8%, the closely watched participation rate ticking up a tenth, positive payroll revisions of 31,000...

Read Post

Book Review: Edward Kleinbard's 'We Are Better Than This'

(3) Comments | Posted October 9, 2014 | 8:36 AM

When it comes to fiscal policy -- government taxes and spending -- there's a lot we Americans get wrong.

We think we're taxed a lot more heavily than our counterparts in other countries.

If we're conservative, we think any bump up in tax rates will have terrible unintended consequences.

If...

Read Post

A Solid Jobs Report as the Recovery Continues to Lift Employment... Though Not Yet Wages

(15) Comments | Posted October 3, 2014 | 11:13 AM

September turned in strong jobs numbers as payrolls were up 248,000, surpassing expectations (sort of; see below), and the unemployment rate ticked down to a six-year low of 5.9 percent. August's initially disappointing payroll count of 142,000 was revised up to a more respectable 180,000, and the average work-week ticked...

Read Post

Jobs Day! First Impressions -- A Disappointing Report, But One Month Does Not a New Trend Make

(7) Comments | Posted September 5, 2014 | 11:42 AM

In a surprisingly downbeat look at last month's job market, today's jobs report shows payrolls up only 142,000 in August, a downward revision to June's gain, flat weekly hours, and a slight tick down in the labor force. While one month does not a new trend make -- far from...

Read Post

Bipartisan Solutions to Poverty?

(7) Comments | Posted September 3, 2014 | 10:51 AM

Tom Edsall takes an interesting tour through various partisan views on the causes and solutions to poverty, suggesting that there's a unified theory in there somewhere:

The emergence of a rough ideological consensus on the causes of poverty and inequality would increase the likelihood of, but by no...
Read Post

An Awfully Bleak Poll

(30) Comments | Posted August 29, 2014 | 10:46 AM

Clearly, there are a lot of people who feel that the economic recovery-over five years old by now, at least by the official count-isn't reaching them. That's a central result from a pretty gloomy poll out today from Rutgers University.

I put some thoughts and data together over...

Read Post

Inequality and Growth: What I Think We Know and Don't Know

(3) Comments | Posted August 8, 2014 | 10:18 AM

This new S&P study on inequality and growth is creating a bit of buzz, mostly because it's from a firm we associate with financial markets, not inequality analysis.

I found the study to be a worthy collection of the arguments that have been brought to bear...

Read Post

July Jobs Report: First Impressions

(14) Comments | Posted August 1, 2014 | 12:27 PM

Payrolls grew by 209,000 last month and the unemployment rate ticked up to 6.2% according to today's report from the Bureau of Labor Statistics.

The payroll gain was below expectations of around 235,000, and well below June's upwardly revised gain of 298,000. However, while the payroll number is somewhat disappointing,...

Read Post

Hey Kids: Keep the Noise Down! (GDP Version)

(1) Comments | Posted July 30, 2014 | 3:59 PM

What parent, busily trying to make sense out jumpy data, hasn't yelled that down to the basement, especially during summer, when the kids are home from school?

My kids, however, schooled in the volatility of high-frequency data, yell back: "Dad, if you want to filter out the noise, compute year-over-year...

Read Post

The Tradeoff Between Inflation and Unemployment: What We Don't Know Can Hurt Us

(4) Comments | Posted July 28, 2014 | 11:38 AM

To assert that economists are having trouble figuring out the relationship between inflation and unemployment is like saying chefs can't figure out what to do with salt and pepper. It's that fundamental. Yet, we're befuddled, and that has powerful policy implications.

For example, a prominent macro economist recently suggested to...

Read Post

What Does the Minimum Wage Do? An Interview With Author/Economist Paul Wolfson

(34) Comments | Posted July 24, 2014 | 12:22 PM

To celebrate the fifth anniversary of the last increase in the federal minimum wage and to call attention to the fact that the federal wage floor has not risen in five years, the US Department of Labor has declared July 24th to be a "Day of Action."

Coincidentally,...

Read Post

GOP: Tax Evasion as a Back Door Strategy

(149) Comments | Posted July 21, 2014 | 8:59 AM

My CBPP colleague Chuck Marr flags something important from a recent press release by Rep. Dave Camp, the Republican Chair of the tax writing committee in the House.

In regard to their bill to patch the Highway Trust Fund through next May, Rep. Camp writes:

Read Post

What's the Matter With (Tax Cuts) in Kansas?

(28) Comments | Posted June 30, 2014 | 12:27 AM

Well, how about that? Cut taxes and you end up with less tax revenue. That's the punchline of this important piece by Josh Barro over at the New York Times on the outcome of recent tax cuts in the state of Kansas.

Barro does a fine job on...

Read Post

Whoa! Whassup with That Big Negative Q1 GDP Revision?

(0) Comments | Posted June 25, 2014 | 2:31 PM

Yes, you read those headlines right: real GDP contracted at a 2.9 percent rate according to revised data released on Wednesday. That's contracted, as in went down.

So, are we, like, back in recession (granting that a lot of people think we never left)?

Nope. That was a...

Read Post

Listening to the OECD and IMF (!?#*!) on the EITC/Minimum Wage Connection

(2) Comments | Posted June 18, 2014 | 12:05 PM

I see where my CBPP colleague CC Huang has a nice post up summarizing one of the recommendations from a new Organization for Economic Co-operation and Development's (OECD) report on the U.S. economy.

The report touts the virtues of the EITC as a wage subsidy for...

Read Post

Cantor and Crony Capitalism

(1) Comments | Posted June 15, 2014 | 10:07 PM

It's both easy and tempting to over-interpret Rep. Eric Cantor's historical primary loss.

I'm not a political pundit, but surely one of the main lessons was the very prosaic: "don't neglect your district."

Beyond that, one interesting issue to come out of Cantor's totally unexpected defeat is the feasibility --...

Read Post

The Fantasy That Tax Repatriation Can Pay for Highways (or Anything Else...)

(0) Comments | Posted June 11, 2014 | 11:38 AM

Like a bad penny, this tax repatriation idea just keeps coming back.

You know, the one where you offer a bribe to multinational corporations in the form of a big tax cut to "repatriate" their foreign earnings. In this case, members on both sides of the aisle are conspiring to...

Read Post

Jobs Report, First Impressions: Steady as She Goes, But She Needs to Go Faster

(15) Comments | Posted June 6, 2014 | 11:35 AM

The nation's payrolls grew by 217,000 last month and the unemployment rate held steady at 6.3%, according to this morning's report from the Bureau of Labor Statistics. It's a good report, solidly in line with expectations. One could make the case that the job market has settled into a decent...

Read Post

The Costs of Inequality to the Growth of Most Households' Incomes

(1) Comments | Posted June 3, 2014 | 10:56 AM

Yesterday I pointed out that adding in federal taxes and transfers does not much alter the trend in inequality over the last few decades. This morning, I'd like to feature another look at the costs of inequality--again, after accounting for taxes and transfers--in terms of income losses to...

Read Post