In the News

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Larry Summers: The Economy Hasn’t Grown Rapidly “in a Financially Sustainable Way” for a Long Time

New Republic • July 23, 2014 • Danny Vinik

Danny Vinik of the New Republic speaks to Advisory Council member Larry Summers on the state of the U.S. economy.

“…What is the evidence that there are risks of secular stagnation? Start in the United States. The core financial crisis risk of failing banks and the like was successfully staunched and contained five years ago…”

B&G Report: a Ruling on Retirees, Bad Government Checks and Slow Press Offices

Governing The States and Localities • July 23, 2014 • Katherine Barrett and Richard Greene

Katherine Barrett and Richard Greene discuss the benefits of using predictive analytics, and reference a new Hamilton Project policy memo outlining the use of data to improve social program services.

“…More sophisticated use of data has enormous potential for changing the way governments evaluate what they do. But before predictive analytic techniques and "rapid-cycle evaluation" can start to improve government programs, entities need to look at their data capabilities and program needs... A very useful report from the Hamilton Project, prepared by Mathematica Policy Research, outlines these and other steps that states and local governments can put into play to improve programs through more skillful use of their own data.”

How One UMass Economist Would Set a Boston Area Minimum Wage

WBUR-Boston Public Radio • July 23, 2014 • Benjamin Swasey

Boston Public Radio takes a look at recent Hamilton Project policy memo by Arindrajit Dube on the benefits of implementing a state and local minimum wage policy.

“…So while the issue is largely off the table here for now, the minimum wage debate goes on as municipalities across the country continue to experiment with pay floors above and beyond state laws. Enter a recent policy memo from one University of Massachusetts Amherst economist. The gist of Arin Dube’s proposals for The Hamilton Project is that the minimum wage should be tied to certain local market conditions. He offers two options: one, pegging the wage floor to half the median wage; or two, tying it to the cost of living in that particular location…”

A Better Way to Bridge the Skills Gap

Harvard Business Review • July 21, 2014 • Traci Donnelly

Traci Donnelly of HBR Blog Network discusses new efforts to provide training for young adults to imrpove their employability. She sites a recent Hamilton Project proposal by Robert Lerman on expanding apprenticeship programs in the United States.

The latest plea comes from the Hamilton Project’s new report on ending poverty, which notes that the U.S. offers about one-tenth the apprenticeships of other industrialized nations.) Despite these repeated affirmations, the teen and young adult employment rate has plummeted over the last dozen years.

The Fall of American Vocational Tech

Ozy • July 21, 2014 • Anne Miller

Anne Miller of Ozy discusses the importance of vocational training, citing a new proposal from The Hamilton Project by Sheena McConnell, Irma Perez-Johnson and Jillian Berk.

"...How far have vocational studies fallen? The U.S. now ranks 21 out of 29 devloped nations when it comes to spending on vocational training, as a percentage of the national GDP, according to a study from the Hamilton Project, part of the Brookings Institute think tank..."

US Jobs: Slim Pickings

Financial Times • July 20, 2014 • James Politi

On July 17th, the President’s Council of Economic Advisers (CEA) released a new report about the change in labor force participation and how it relates to the underlying demographic, structural and cyclical trends affecting the labor market. CEA Chairman Jason Furman joined The Hamilton Project to discuss the report and the implications these labor force changes have for outstanding challenges like lowering long-term unemployment, raising wages, and expanding the economy's potential. 

“…While the Fed grapples with how to link wage growth and interest rates, the Obama administration also has much at stake in the debate about US salaries. Last week, Jason Furman, chairman of the White House council of economic advisers, sought to highlight the most encouraging data on the topic, which show that workers in production and nonsupervisory jobs have seen slightly faster wage growth than overall American employees of about 2.3 per cent. But he still said “growing their wages” is the biggest challenge for many Americans…”

Baby Boomers’ Impact on Participation Rate Big, Expected

USA News • July 17, 2014 • Katherine Peralta

USA News takes a look at the recent report released by the White House Council of Economic Advisers on labor force participation, and highlights The Hamilton Project's recent forum featuring remarks from CEA Chairman Furman.

"...“We wouldn’t expect the participation rate to return to its pre-crisis levels and in fact, we weren’t expecting that even prior to the crisis,” Furman said at a forum on labor market challenges hosted by the Brookings Institution’s Hamilton Project Thursday in Washington..."

The Modern American Man, Charted

NPR-All Things Considered • July 17, 2014 • Serri Graslie

On NPR's All Things Considered, Serri Graslie takes a look at charts depicting the modern American man. Graslie cites Hamilton Project work by Michael Greenstone and Adam Looney on the marriage gap.

"...A 2012 report by The Hamilton Project at the Brookings Institution found that only half of the poorest men in America are married today, compared with 86 percent in 1970..."

Latest Wrinkle in the Jobs Debate: Blame the Boomers

NPR • July 17, 2014 • Marilyn Geewax

On July 17th, the President’s Council of Economic Advisers (CEA) released a new report about the change in labor force participation and how it relates to the underlying demographic, structural and cyclical trends affecting the labor market. CEA Chairman Jason Furman joined The Hamilton Project to discuss the report and the implications these labor force changes have for outstanding challenges like lowering long-term unemployment, raising wages, and expanding the economy's potential. 

“…CEA Chairman Jason Furman, who presented the report to economists and journalists in Washington, said that back in 1950, prime-age men nearly all worked — with a 91.5 percent participation rate. But since then, legions of women have entered an increasingly automated workforce, and men have pulled back. Today, only 83.4 percent of working-age men hold jobs or seek them…”

An Unnecessary Fix for the Fed

The Wall Street Journal • July 17, 2014 • Alan S. Blinder

In a new piece for the Wall Street Journal, Advisory Council member Alan S. Blinder discusses a recent hearing for Federal Reserve reform.

“…The House Financial Services Committee held a hearing on Federal Reserve reform on July 10. The hearing didn't get much press attention. But it was remarkable. While the House can't manage to engage on important issues like tax reform, immigration reform and the minimum wage, it's more than willing to propose radical "reform" of one of the few national policies that is working well…”

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