Event Summary
Jared Bernstein, chair of the White House Council of Economic Advisers, presents the forthcoming chapter in the 2024 Economic Report of the President, which examines the impact of tight labor markets on working families and the macroeconomy. Using a monopsony framework, the chapter argues that tight labor markets improve workers’ bargaining position for higher wages and better jobs, particularly among individuals who are often left behind when labor markets are slack.
Bernstein's presentation is followed by a fireside chat and moderated Q&A with PIIE president Adam S. Posen.