Despite harsh winter weather, the economy added 295,000 jobs in February and the unemployment rate fell to its lowest since mid-2008. Those are signs of a recovering labor market that the Federal Reserve might use to justify an interest rate increase sooner rather than later. Wages, however, remain sluggish, reinforcing doves’ calls for the Fed to hold off. Continue reading
In the long view of history, technological advancement unleashed by the Industrial Revolution has come to be seen as a net positive for economic development and everyone’s well-being, even those workers who initially lost their jobs. There’s reason to wonder, however, if this “second machine age” may be different.
WASHINGTON — President Barack Obama’s top economists say that even as the U.S. has managed to kick start a lasting and growing recovery, modest wage gains are far from making up for decades of paycheck stagnation for middle-class workers.
The recovering U.S. economy has made its strongest showing yet. Employers created a million jobs since November — the best three-month average in 17 years. And January also boasted the biggest wage rise in six years. But not all sectors saw the same level of growth. To discuss the data, Jeffrey Brown speaks with Diane Swonk of Mesirow Financial. Continue reading
Even opponents of open immigration often support temporary guest workers entering the U.S. on the H1-B visa program. But do immigrants skilled in science and technology undercut wages for U.S. workers? Quite the contrary, according to a new paper from the National Bureau of Economic Research. Continue reading
According to Friday’s jobs report, the unemployment rate dropped from 6.2 percent to 6.1 percent. However, the number of Americans dropping out of the workforce rose. Sudeep Reddy, an economics editor at the Wall Street Journal joins Hari Sreenivasan from Washington to talk about the long-term effects these exits may have on the nation’s economy. Continue reading
Major tech companies including Apple, Adobe, Google and Intel have settled a huge class action lawsuit alleging they colluded not to go after each others’ employees, effectively holding down salaries. Alison Stewart talks with Arik Hessedahl of Re/code about the economic and social tensions troubling Silicon Valley. Continue reading
Economic growth in the U.S. is as strong as or stronger than in many other countries –- but that growth benefits only a small percentage of American households. That’s the conclusion of a New York Times analysis, based upon 35 … Continue reading
WASHINGTON — Some low-paid workers won’t benefit even if a long-shot Democratic proposal to raise the federal minimum wage becomes law. More than a dozen categories of jobs are exempt from the minimum, currently $7.25 an hour. Those exclusions, rooted … Continue reading
NewsHour takes another look tonight at the latest unemployment report. Bloomberg senior economist Nela Richardson speaks with Hari Sreenivasan about whether the the jobs counted as recovered are of the same quality as those lost in the Great Recession. Richardson says BLS analysis shows that nine of 10 jobs gained in March paid less than $44,000 per year. Continue reading