01/11/2025

News

Ready for the New Economy

In Section 1 of this paper, we argue that the challenge facing the middle class is less about fundamental economic unfairness—but fundamental change due to globalization and technology coupled with a country, a workforce, and a set of institutions that are simply not ready for this new economy. Moreover, we show that the narrative of fairness has demonstrably failed to excite voters, with three consecutive losing performances with the middle class—leaving Democrats with the fewest number of officeholders since 1928. In Section 2, we propose an ambitious and actionable Democratic agenda that would generate economic growth that directly benefits the middle class through over 70 policy ideas that create more skills, more jobs, and more wealth.

Research & Studies
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Economists Pull Back on Growth Expectations for Late 2015

Economists are optimistic about economic growth in the remainder of 2015, but expectations are rolled back from last quarter, a new survey of members of the National Association for Business Economics (NABE) shows.

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Startups Accelerate Efforts to Reinvent Trucking Industry

A series of startups are vying to become an “Uber of trucking,” leveraging truck drivers’ smartphones to quickly connect them with nearby companies looking to ship goods. The upstarts aim to reinvent a fragmented U.S. trucking industry that has long relied on third-party brokers, essentially travel agents for trucking who connect truckers with customers.

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The State Worker: Job Titles Reveal California’s Hoarding Disorder

Like hoarders, various groups find contentment in the classification mess they helped create. Unions and governors (including Brown) bargained new classifications as pay raises by another name. Departments added classifications over the years to control their own hiring. Sometimes state law adds new classifications.

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Economists are Starting to Warn About the Risk of a New US Recession

A growing chorus of prominent economists and analysts are arguing those dynamics could tip the world — and the United States along with it — into recession within the next two years. The fear is showing up in the recent wild swings in financial markets, rare outside of broader economic downturns. The pace of U.S. job growth has slowed substantially compared to last year. And though the economic expansion has never quite reached many workers, it has actually lasted longer than the post-war average.

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What We Know About the 92 Million Americans Who Aren’t in the Labor Force

The Labor Department only classifies people as unemployed if they are actively looking for work. All those who don’t have a job and aren’t looking are lumped together under the fishy-sounding classification “not in the labor force.” The share of Americans not in the labor force has been climbing for nearly 15 years, a development that even many economists and demographers failed to anticipate.

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The Big 2016 Minimum Wage Push Just Got a Powerful New Ally

A large California union is seed funding an organization aimed at accelerating such campaigns around the country, seizing on growing public support for raising the minimum wage to heights that just one cycle ago would have seemed like total fantasy.

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Vandy Takes on Federal Regs, Redux

The nation’s colleges and universities collectively spend an estimated $27 billion each year trying to comply with federal requirements. . . Compliance with all federal requirements accounted for between 3 and 11 percent of the institutions’ operating expenditures, excluding any expenses associated with running a hospital.

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Here’s Where All the Construction Workers Went

In short, our analysis of the data suggests that 60% of displaced construction workers have left the labor market or moved into other industries. Although some former construction workers transitioned quickly to other sectors, for most, a move into another industry occurred after a long spell of nonemployment. Also likely contributing to a shortage of experienced workers is a shift in hiring preferences—during the downturn construction firms hired fewer young workers, fewer young workers gained experience in the industry, and the share of older workers grew faster than in other industries.

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California’s 2013-14 Grad Rate Increased from Year Before

A U.S. Department of Education report shows that California’s high school graduation ranking dropped from 30th in 2012-13 to 33rd in 2013-14, even though its graduation rate increased slightly.

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California Adds Just 8,200 Net Jobs in September–Much Less Than Recent Gains

California had added an average of about 41,000 jobs each month over the past year, making September’s gain small in comparison. Still, the state’s job market has expanded at a 2.8% rate over the last year, faster than the 2% growth rate for the U.S. overall.

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Will California Run Out of College Graduates?

This report updates and extends projections of California’s workforce skills through 2030, focusing on the supply and demand for workers with a bachelor’s degree. We find that the state will fall about 1.1 million college graduates short of economic demand if current trends persist—a problem we call the workforce skills gap. Even the arrival of highly educated workers from elsewhere is unlikely to be large enough to fill this gap.

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California Jobs Report Far Worse Than It Looks

Don’t be fooled by the new California jobs report out Friday that shows statewide unemployment falling below six percent for the first time in nearly a decade. The state added almost no jobs last month – and 125,000 people stopped looking for work.

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Hi Rhonda – Foster Farms is a family-owned company with operations in California, Oregon, Washington and Louisiana. All Foster Farms poultry is grown, raised and processed in the United States.

Don’t be fooled by the new California jobs report out Friday that shows statewide unemployment falling below six percent for the first time in nearly a decade. The state added almost no jobs last month – and 125,000 people stopped looking for work.

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Beige Book–October 14, 2015

Economic activity in the District grew at a moderate pace during the reporting period of late August through early October. Overall price inflation appeared to firm slightly, and upward wage pressures increased further. Retail sales grew moderately, while demand for business and consumer services picked up further. Manufacturing output was largely unchanged overall. Agricultural activity edged up. Conditions in residential and commercial real estate markets expanded further. Lending activity ticked up.

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