Senior Economist and Director of Health Policy Research
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September 3, 2015 | By Elise Gould | BlogUnfortunately, a serious look at the economy suggests slow growth, and not a hint of acceleration—making a rate hike terribly premature.
September 1, 2015 | By Elise Gould | Economic snapshotAs Labor Day approaches, about a quarter (24 percent) of private sector workers will not be enjoying a paid day off on Monday. A similar number (23 percent) earn no paid vacation time.
Slow Wage Growth is Certainly Not a Sign of the “Some Further Improvement” Needed for the Fed to Raise Rates
August 7, 2015 | By Elise Gould | BlogArguably, the most important measure for the Federal Reserve as they decide whether to raise rates in September is nominal average hourly earnings.
August 7, 2015 | By Elise Gould | BlogMy former colleague, Heidi Shierholz, used to call the prime-age employment-to-population ratio (EPOP) her desert island measure, if she could only take one with her.
News from EPI › Fed Decisions Should Be Data Driven. The Data Indicate it’s Not Time to Raise Rates.
August 7, 2015 | By Elise Gould | Jobs PictureAll throughout its discussions of if and when they will raise interest rates, Federal Reserve officials have insisted that their decisions will be “data driven.” This is, of course, the right approach.
August 6, 2015 | By Elise Gould | BlogThe White House is reportedly considering an executive order that would require that federal contractors provide their employees with seven days of paid sick leave.
August 6, 2015 | By Elise Gould | BlogTomorrow, when the Bureau of Labor Statistics releases its monthly jobs report, we’ll be looking at what the Federal Reserve should pay attention to as they debate whether or not to raise interest rates at the next FOMC meeting in September.
July 23, 2015 | By Elise Gould | Economic snapshotBetween 1979 and 2007, the majority (61 percent) of the rise in annual earnings of middle-earnings households was due to increasing annual hours and not increasing wages.
July 7, 2015 | By Elise Gould | BlogThe referee might miss an occasional handball, but a soccer game isn’t rigged in favor of one group of players over another. Unlike a soccer game, the most powerful economic actors have rigged the labor market against everyday hardworking Americans.
July 2, 2015 | By Elise Gould | BlogAverage hourly earnings held steady between May and June at $24.95 per hour, a paltry increase of 2.0 percent over June 2014.
July 2, 2015 | By Elise Gould | BlogWhile job growth was decent in June (though the downward revisions to April and May were disappointing), the news on unemployment was actually less welcome.
News from EPI › The Jobs Report is a Sign that the Economy Is Continuing to Leave Workers High and Dry
July 2, 2015 | By Elise Gould | Economic IndicatorsIn June, the economy added a disappointing 223,000 payroll jobs and the more optimistic gains for May were substantially revised downwards from 280,000 to 254,000, on top of downward revisions for April.
July 1, 2015 | By Elise Gould | BlogAre we there? No. Are we moving in the right direction? Yes. How will we know when we get there? See below.
June 9, 2015 | By Elise Gould | BlogThis morning’s Job Openings and Labor Turnover Survey (JOLTS) report reflects the solid employment situation for April, which is considerably better than the weakness we saw in March. Job openings were up, which, along with a slight drop in the unemployment level, meant that the job-seekers-to-job-openings ratio fell to 1.6 in April.
tracking nominal wage growth over the recovery and at best we can find reason for only a very modest celebration. 2.3 percent growth is a move in the right direction, but it’s nowhere near the 3.5 to 4.0 percent growth we expect in a healthy labor market.
June 5, 2015 | By Elise Gould | Economic IndicatorsThis morning’s jobs report shows a solid increase in payroll employment, with 280,000 jobs added in May—slightly higher than the previous six month average of 260,000.
What to Watch on Jobs Day: What’s at Stake at the Upcoming FOMC Meeting and the Outlook for Young Workers
June 4, 2015 | By Elise Gould | BlogIn tomorrow’s release of the Employment Report, I’m primarily looking for evidence confirming that the Federal Reserve should continue to stay the course through its June (and most likely September) meeting. I’ll also be looking more closely at the labor market for young people: youth entering the labor market in the summer and prospects for recent high school grads.
June 3, 2015 | By Elise Gould | TestimonyThe erosion of collective bargaining has been a key factor undermining pay growth for middle-wage workers over the last few decades.
May 19, 2015 | By Elise Gould | Economic snapshotDespite what some policymakers and pundits might have us believe, a significant share of the poor work. This means that policies that boost employment and wages are important and underappreciated tools for reducing poverty.
Growing Consensus that Labor Market Slack Remains: The Fed Should Stay the Course and Wait to Increase Rates Until the Weakness Has Lessened Substantially
May 15, 2015 | By Elise Gould | BlogNominal wage growth’s failure to significantly increase over the last several months (and years) is evidence enough that there’s sufficient labor market slack to convince the Federal Reserve to keep its foot off the economic brakes and not increase short-term interest rates.