This morning’s new jobs numbers contained few surprises, and given the mediocre, low-wage recovery the U.S. has experienced for the last few years, that’s a problem. On Tuesday, the Roosevelt Institute’s Rediscovering Government initiative hosted “A Bold Approach to the Jobs Emergency,” a daylong conference that discussed how this crisis of prolonged unemployment and underemployment came about and how we might fix it. Roosevelt Institute Senior Fellow and Rediscovering Government Director Jeff Madrick gave Next New Deal readers a preview of the discussion earlier this week, and Senior Fellow Richard Kirsch noted that the focus was not just on more jobs, but on quality jobs: “jobs that provide decent pay and benefits and the flexibility to be able to take care of one’s family.”
The conference was covered on the Campaign for America’s Future blog, where Derek Pugh provided a comprehensive summary of the day. MarketWatch also published dueling op-eds in response to the conference, with panelist Diana Furchtgott-Roth of the Manhattan Institute arguing that too much emphasis was placed on government and journalist Rex Nutting contending that the structural impediments to hiring that Furchtgott-Roth highlights have been around for ages — and that in the end, we need government stimulus to create new jobs and increase demand.
Federal Reserve Governor Sarah Bloom Raskin’s comments proved to be a highlight of the conference. Governor Raskin spoke on the lunch plenary, “Paving the Way for Good Jobs,” moderated by Roosevelt Institute | Pipeline Fellow Nona Willis Aronowitz. She discussed how she realized that most of the jobs being added to the economy are terrible after a visit to a local job fair. Reuters, the Wall Street Journal, and Huffington Post all covered Raskin’s presence, and Reuters also noted that the stock market was jittery about what Raskin might say – perhaps more evidence of the “Jurassic Park problem” with Fed policy that Roosevelt Institute Mike Konczal recently pointed out.
Stay tuned for video from the event coming soon, and keep following the #jobsemergency conversation on Twitter!