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In September, the Wall Street Journal released an exposé about Facebook, claiming the social media company had internal evidence showing Instagram use is linked with poorer mental health, particularly among young women (Instagram is owned by Facebook).
Inflation has become a defining characteristic of the COVID-19 economic recovery. As the labor market recovery loses steam and economic growth slows, two common inflation indicators—the Core Consumer Price Index and the Core Personal Consumption Expenditures Price Index—are increasing faster than they have in 30 years.
President Biden and Congressional Democrats’ plan to increase taxes and expand federal spending includes a list of changes that would affect most sectors of the economy and discourage a return to work for many of America’s most needy families.
Why are fewer prime-age Americans in the workforce? Many popular explanations attribute Americans’ declining labor force participation to declining wages, technological change, and international trade.
Prices today are rising at their fastest pace in decades and American concern about inflation is growing. While some amount of inflation can be the result of a healthy and growing economy, rapid, sustained inflation harms American families by wiping out their wage gains and eroding savings.
In the most recent Bureau of Labor Statistics data, there were a record 10.9 million open jobs and 2.2 million more unfilled positions than people looking for work. With unemployment still high, returning more Americans to work continues to be a top priority for both the economic and social recovery.
An improved system of power generation and transmission in the U.S. would prevent some outages, and also reduce the price of electricity to American families, businesses, and institutions through increased production and competition. This would make life for American families more affordable and more pleasant.
The labor market is going through an unprecedented realignment. Job openings reached a series high of 9.2 million in May 2021, hires and quits are near record rates, and layoff rates are at a record low. At the same time, unemployment remains elevated and labor force participation is still depressed.