Portside

According to the Economic Policy Institute, Congress’ refusal to extend unemployment benefits in 2014, coupled with cuts in benefits at the state level, has reduced the percentage of people receiving unemployment insurance to the lowest level in more than three decades. And, despite higher unemployment rates for Black workers, unemployed Black workers are even less likely to receive unemployment benefits than their white counterparts.

There’s a significant labor economics literature that argues that job-to-job transitions are a major driver of wage growth for workers. If the number of people moving directly from one job to another is in decline, that’s a bad sign for wage growth, as well as inflation and monetary policy. This appears to be undertheorized and not discussed enough in academic or policy discussions.

About 7.4 million Americans – up from 7.2 million as of November – are working part-time but would like to be working full-time.

Charts illustrating that while corporate profits have rebounded, more than four million Americans have been without work for six months or longer, and the price of continuing long-term unemployment isn't just borne by the jobless and their families. It's dragging down the entire economy—to the tune of $1 trillion a year.