Click here to receive the Daily Digest via email
Japan Is a Model, Not a Cautionary Tale (NYT)
Roosevelt Institute Chief Economist Joseph Stiglitz thinks that we should be following Shinzo Abe’s lead, because even as Japan’s working age population shrinks, their G.D.P. is still growing respectably.
Student Advocates Back #DontDoubleMyRate Campaign, But Don’t Support Obama’s Proposal (HuffPo)
Tyler Kingkade writes that student groups, including the Roosevelt Institute | Campus Network, may be participating in the President’s Twitter campaign on student loans, but they don’t think his plan goes far enough. The variable rates make them understandably concerned.
The Big Shrug (NYT)
Paul Krugman worries that after a jobs report that he finds disappointing, policy makers are just not thinking about unemployment. We haven’t reached “normal” yet, but you wouldn’t know it if you asked them.
U.S. Is Still 10 Million Jobs Away From Normal (Bloomberg View)
Mark Whitehouse shares two numbers explaining Friday’s jobs report: first, the employment-to-population ratio, which is the proportion of working-age people who have jobs, and second, the number of jobs that would take us back to pre-recession employment numbers.
Long-Term Jobless: Still a Bleak Picture (NYT)
Annie Lowrey suggests that the job market has mostly normalized for the short-term unemployed, but the long-term unemployed are facing a market that hasn’t improved much. It’s not because of a skills mismatch: employers are discriminating against them.
Austerity hampered job growth (Market Watch)
Heather Boushey looks at Friday’s jobs report and thinks that the sequestration has slowed down the U.S. economy in a way that we just can’t afford right now.
The jobs report was pretty solid. So why aren’t wages rising? (WaPo)
Neil Irwin argues that while we’re slowly adding jobs, it’s no surprise that wages aren’t growing with employment, because growth is mostly in low-wage sectors. He thinks that until we are closer to full employment, there isn’t much to be done here.
One way to help close the gender wage gap: raise the minimum wage (Washington Monthly)
Kathleen Grier suggests that President Obama’s proposal to raise the minimum wage, which is stuck in committee, would not just serve as stimulus for the economy but also as an attack on the wage gap. This is one way we could raise wages despite the unemployment rate.