By most metrics, the US economy is expanding, and Americans are reaping the benefits of job growth. So why are so many people working more hours but still not getting ahead? One reason may be that labor demand is less robust than it should be. Economist Jared Bernstein offers some provocative ideas on tackling the problem in this astute report, but even those may not be enough to reverse the trend. getAbstract recommends this technical analysis to economists and policy experts for its nuanced view of why so many Americans continue to struggle.
In this summary, you will learn
- Why traditional measures of employment may fail to reveal the true status of the labor market;
- How weak demand for labor is affecting American workers, especially those in lower wage jobs; and
- What the Federal Reserve and other government policy makers might do to help increase labor demand.
About the Author
Jared Bernstein is a senior fellow at the Center on Budget and Policy Priorities at the Hamilton Project of the Brookings Institution.