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Analysis

Original research and commentary from LISEP economists

The Latest

Unmasking GDP: A Closer Look at the Illusion of National Prosperity

Gross Domestic Product (GDP) has long been the go-to metric for measuring national economic success, often equated with growth and prosperity. However, while it offers a broad overview of economic activity, GDP frequently presents an incomplete and misleading picture of the economy’s health, especially when considering the well-being of middle and lower-income Americans or society overall.

Unmasking GDP: A Closer Look at the Illusion of National Prosperity

Gross Domestic Product (GDP) has long been the go-to metric for measuring national economic success, often equated with growth and prosperity. However, while it offers a broad overview of economic activity, GDP frequently presents an incomplete and misleading picture of the economy’s health, especially when considering the well-being of middle and lower-income Americans or society overall.

Beyond the Median: A Comprehensive Analysis of San Jose's Economy

Despite its reputation for high living costs, the San Francisco Bay Area MSA ranks as a top performer for middle- and working-class families. LISEP delved deeper into the data to uncover the factors driving this outcome.

Into Thin Heir: America’s “Legal” Purloining of Black Farmland

In 1910, Black farmers owned an estimated 16-19 million acres. Today, 10% of that land remains in their hands, stolen by a silent enemy — “heirs’ property.”

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Recorded Interview

True Living Cost

True Rate of Unemployment

True Weekly Earnings

Informal Economy

Minimal Quality of Life

Unmasking GDP: A Closer Look at the Illusion of National Prosperity

Gross Domestic Product (GDP) has long been the go-to metric for measuring national economic success, often equated with growth and prosperity. However, while it offers a broad overview of economic activity, GDP frequently presents an incomplete and misleading picture of the economy’s health, especially when considering the well-being of middle and lower-income Americans or society overall.

Unmasking GDP: A Closer Look at the Illusion of National Prosperity

Gross Domestic Product (GDP) has long been the go-to metric for measuring national economic success, often equated with growth and prosperity. However, while it offers a broad overview of economic activity, GDP frequently presents an incomplete and misleading picture of the economy’s health, especially when considering the well-being of middle and lower-income Americans or society overall.

November 20, 2024

LISEP News

LISEP Research

No items found.

Beyond the Median: A Comprehensive Analysis of San Jose's Economy

Despite its reputation for high living costs, the San Francisco Bay Area MSA ranks as a top performer for middle- and working-class families. LISEP delved deeper into the data to uncover the factors driving this outcome.

Beyond the Median: A Comprehensive Analysis of San Jose's Economy

Despite its reputation for high living costs, the San Francisco Bay Area MSA ranks as a top performer for middle- and working-class families. LISEP delved deeper into the data to uncover the factors driving this outcome.

August 28, 2024

LISEP News

LISEP Research

No items found.

Into Thin Heir: America’s “Legal” Purloining of Black Farmland

In 1910, Black farmers owned an estimated 16-19 million acres. Today, 10% of that land remains in their hands, stolen by a silent enemy — “heirs’ property.”

Into Thin Heir: America’s “Legal” Purloining of Black Farmland

In 1910, Black farmers owned an estimated 16-19 million acres. Today, 10% of that land remains in their hands, stolen by a silent enemy — “heirs’ property.”

February 21, 2024

LISEP News

LISEP Research

No items found.

If the Economy Is Hot, Why Are Voters So Frustrated?

Rarely has Washington stumbled on an issue more confounding than President Biden’s low approval ratings.

If the Economy Is Hot, Why Are Voters So Frustrated?

Rarely has Washington stumbled on an issue more confounding than President Biden’s low approval ratings.

January 25, 2024

LISEP News

LISEP Research

Newsweek

The Invisible Workforce: Women in the Informal Economy

Women account for a disproportionately large share of the informal economy, a sector plagued by poverty, exploitation, and lack of social protections.

The Invisible Workforce: Women in the Informal Economy

Women account for a disproportionately large share of the informal economy, a sector plagued by poverty, exploitation, and lack of social protections.

November 29, 2023

LISEP News

LISEP Research

No items found.

A Tale of Two Unemployments

Sadly, we are likely headed towards serious unemployment in the United States. The Fed’s hammer of higher interest rates to fight inflation will almost inexorably lead to serious job loss.

A Tale of Two Unemployments

Sadly, we are likely headed towards serious unemployment in the United States. The Fed’s hammer of higher interest rates to fight inflation will almost inexorably lead to serious job loss.

April 13, 2023

LISEP News

LISEP Research

No items found.

Why the Shrinking of America’s Recreation Budget Matters

Too many middle- and low- income Americans are slowly but surely having to bid farewell to even the most basic leisure activities.

Why the Shrinking of America’s Recreation Budget Matters

Too many middle- and low- income Americans are slowly but surely having to bid farewell to even the most basic leisure activities.

February 8, 2023

LISEP News

LISEP Research

No items found.

Economists Have Failed Middle-Class Americans

When inflation finally comes under control, everyone will rightfully celebrate. But even as Washington and Wall Street collectively exhale, policymakers will need to take some time to understand why 2021’s prevailing economic wisdom proved so wrong.

Economists Have Failed Middle-Class Americans

When inflation finally comes under control, everyone will rightfully celebrate. But even as Washington and Wall Street collectively exhale, policymakers will need to take some time to understand why 2021’s prevailing economic wisdom proved so wrong.

January 30, 2023

LISEP News

LISEP Research

Bloomberg

FTX Was a Warning. Washington Should Act Now to Fill Other Holes in the Swiss Cheese

Instead of creating a new bureaucracy every time a new scam shows up, Congress should empower existing financial regulators.

FTX Was a Warning. Washington Should Act Now to Fill Other Holes in the Swiss Cheese

Instead of creating a new bureaucracy every time a new scam shows up, Congress should empower existing financial regulators.

December 16, 2022

LISEP News

LISEP Research

MarketWatch

Working Class Americans Need a Hand Up, Not a Handout

Middle- and low-income Americans are materially worse off over at least the last two decades than government headline statistics would have us believe.

Working Class Americans Need a Hand Up, Not a Handout

Middle- and low-income Americans are materially worse off over at least the last two decades than government headline statistics would have us believe.

November 17, 2022

LISEP News

LISEP Research

Newsweek

The Tipping Point: Changing the Dynamic for Struggling Gig Economy Workers

Americans are increasingly reliant on the benefits of gig economy companies. But underlying factors within the growing gig economy foretell an increasingly ominous economic environment for gig workers.

The Tipping Point: Changing the Dynamic for Struggling Gig Economy Workers

Americans are increasingly reliant on the benefits of gig economy companies. But underlying factors within the growing gig economy foretell an increasingly ominous economic environment for gig workers.

September 16, 2022

LISEP News

LISEP Research

No items found.

The True Cost of Misleading Headline Inflation Statistics

Several key government-reported headline statistics present a distorted view of reality for most Americans, with the impact extending far beyond Wall Street. And it can have dire consequences — particularly when those numbers drive economic policy. Look no further than the Federal Reserve's recent decision to hike interest rates.

The True Cost of Misleading Headline Inflation Statistics

Several key government-reported headline statistics present a distorted view of reality for most Americans, with the impact extending far beyond Wall Street. And it can have dire consequences — particularly when those numbers drive economic policy. Look no further than the Federal Reserve's recent decision to hike interest rates.

August 12, 2022

LISEP News

LISEP Research

American Banker

“Too Big to Fail” Again?

Why Washington needs to wake up to the crisis that’s looming in the nonbank financial sector.

“Too Big to Fail” Again?

Why Washington needs to wake up to the crisis that’s looming in the nonbank financial sector.

August 3, 2022

LISEP News

LISEP Research

Democracy Journal

CPI Doesn’t Capture the True Cost of Living in Trump Country

Wednesday’s consumer-price index report showed a 9.1% year-over-year jump. Following similar news last month, the Federal Reserve increased interest rates by 0.75 percentage point. This spells double trouble for middle- and low-income Americans: increased expenses for the former and job losses from the latter.

CPI Doesn’t Capture the True Cost of Living in Trump Country

Wednesday’s consumer-price index report showed a 9.1% year-over-year jump. Following similar news last month, the Federal Reserve increased interest rates by 0.75 percentage point. This spells double trouble for middle- and low-income Americans: increased expenses for the former and job losses from the latter.

July 15, 2022

LISEP News

LISEP Research

The Wall Street Journal

Inflation Has Been Pummeling the Middle Class for Decades, but the Out-of-touch CPI Masks this Reality

Perhaps “fake” is too strong a term to describe the data-driven consumer price index (CPI), which serves as the U.S. government’s proxy for inflation. But the narrative the CPI has long burnished — namely that, since 2000, ordinary expenses have been fairly manageable amid rising wages — is entirely debunked by new research.

Inflation Has Been Pummeling the Middle Class for Decades, but the Out-of-touch CPI Masks this Reality

Perhaps “fake” is too strong a term to describe the data-driven consumer price index (CPI), which serves as the U.S. government’s proxy for inflation. But the narrative the CPI has long burnished — namely that, since 2000, ordinary expenses have been fairly manageable amid rising wages — is entirely debunked by new research.

May 28, 2022

LISEP News

LISEP Research

MarketWatch

Minority-owned Banks Need More Help and Fewer Setbacks from Washington

Each time the economy falters, a disproportionate number of Minority Depository Institutions find themselves in trouble through no fault of their own.

Minority-owned Banks Need More Help and Fewer Setbacks from Washington

Each time the economy falters, a disproportionate number of Minority Depository Institutions find themselves in trouble through no fault of their own.

April 29, 2022

LISEP News

LISEP Research

The Hill

Employment Effect of Eliminating COVID-19 Related Expanded Unemployment Benefits

The effect of eliminating COVID-related unemployment benefits may increase workers seeking employment, but the effect of the reduction is dependent upon a state’s underlying COVID policies.

Employment Effect of Eliminating COVID-19 Related Expanded Unemployment Benefits

The effect of eliminating COVID-related unemployment benefits may increase workers seeking employment, but the effect of the reduction is dependent upon a state’s underlying COVID policies.

March 21, 2022

LISEP News

LISEP Research

No items found.

The Need for Government Investment in Childcare

The benefits and pay for many childcare workers are unattractive. But the pay reality for childcare workers is far grimmer than Bureau of Labor Statistics data portrays.

The Need for Government Investment in Childcare

The benefits and pay for many childcare workers are unattractive. But the pay reality for childcare workers is far grimmer than Bureau of Labor Statistics data portrays.

January 21, 2022

LISEP News

LISEP Research

No items found.

A Better Metric to Steer Macroeconomic Policy

The unemployment rate has not been helpful in predicting inflation. A much more revealing indicator is LISEP’s functional employment to population ratio, which may give the Fed the flashlight it needs to steer the economy.

A Better Metric to Steer Macroeconomic Policy

The unemployment rate has not been helpful in predicting inflation. A much more revealing indicator is LISEP’s functional employment to population ratio, which may give the Fed the flashlight it needs to steer the economy.

November 24, 2021

LISEP News

LISEP Research

No items found.

Why Are We Surprised that Hospitality Workers Are Moving to Other Sectors?

Businesses in the hospitality and leisure sector ought to consider more than just pay if they wish to keep their employees.

Why Are We Surprised that Hospitality Workers Are Moving to Other Sectors?

Businesses in the hospitality and leisure sector ought to consider more than just pay if they wish to keep their employees.

October 22, 2021

LISEP News

LISEP Research

No items found.

America’s Hidden Hedge Against Inflation

There is an enormous (but invisible) supply of labor that companies can hire to keep costs down.

America’s Hidden Hedge Against Inflation

There is an enormous (but invisible) supply of labor that companies can hire to keep costs down.

October 7, 2021

LISEP News

LISEP Research

MarketWatch

The Healthcare Con: How Health Insurers Are Hijacking Workers’ Wage Gains

Employers should not pay healthcare companies. Instead, they should give this money directly to their employees to buy their own healthcare. ‍

The Healthcare Con: How Health Insurers Are Hijacking Workers’ Wage Gains

Employers should not pay healthcare companies. Instead, they should give this money directly to their employees to buy their own healthcare. ‍

September 28, 2021

LISEP News

LISEP Research

No items found.

Measured by Creation of Good Jobs, Today’s Recovery Stands Alone

Economic recoveries should be judged not simply by how many jobs come online, but by whether the jobs created pay a reliably middle-class wage.

Measured by Creation of Good Jobs, Today’s Recovery Stands Alone

Economic recoveries should be judged not simply by how many jobs come online, but by whether the jobs created pay a reliably middle-class wage.

September 25, 2021

LISEP News

LISEP Research

The Hill

Higher Wages Won’t Break the Bottom Line

Wage increases need not spark inflation. Corporate profits and cash reserves mean that industry can and should pay their workers more.

Higher Wages Won’t Break the Bottom Line

Wage increases need not spark inflation. Corporate profits and cash reserves mean that industry can and should pay their workers more.

August 24, 2021

LISEP News

LISEP Research

No items found.

Real Recovery Means Better Jobs and More Jobs

It’s important that job quality is as much a public policy priority as quantity.

Real Recovery Means Better Jobs and More Jobs

It’s important that job quality is as much a public policy priority as quantity.

August 23, 2021

LISEP News

LISEP Research

No items found.

Reforms That Can Help Revive the American Dream

A new cadre of financial regulators can transform the financial world’s role in the fight against prejudice and inequality.

Reforms That Can Help Revive the American Dream

A new cadre of financial regulators can transform the financial world’s role in the fight against prejudice and inequality.

April 21, 2021

LISEP News

LISEP Research

The Atlantic

When It Comes to Biden’s Jobs Bill, Bigger Is Better

Policymakers shouldn’t be fooled by a bullish stock market or what appears to be plummeting unemployment rates. Now is not the time to take our foot off the gas.

When It Comes to Biden’s Jobs Bill, Bigger Is Better

Policymakers shouldn’t be fooled by a bullish stock market or what appears to be plummeting unemployment rates. Now is not the time to take our foot off the gas.

April 19, 2021

LISEP News

LISEP Research

The Hill

Go Big on COVID Stimulus — We Can’t Afford Not To

The country needs this amount of relief — or more.

Go Big on COVID Stimulus — We Can’t Afford Not To

The country needs this amount of relief — or more.

March 3, 2021

LISEP News

LISEP Research

Morning Consult

Expand CRA to Include Nonbanks

As the world of finance has changed, the Community Reinvestment Act’s reach has failed to keep pace. Of most concern, large portions of the lending marketplace have been claimed by nonbank lenders that are not subject to the CRA’s regulations. Today, that disparity threatens to undermine the spirit of equality the CRA intended nearly a half-century ago.

Expand CRA to Include Nonbanks

As the world of finance has changed, the Community Reinvestment Act’s reach has failed to keep pace. Of most concern, large portions of the lending marketplace have been claimed by nonbank lenders that are not subject to the CRA’s regulations. Today, that disparity threatens to undermine the spirit of equality the CRA intended nearly a half-century ago.

February 22, 2021

LISEP News

LISEP Research

American Banker

Unemployment Is Much Worse Than You Think — Here’s Why

These days the headline unemployment rate isn’t just an undercount, it actually paints an alternate reality that masks the degree to which low- and moderate-income people are hurting. As a result, policymakers believe these Americans are better off than they actually are.

Unemployment Is Much Worse Than You Think — Here’s Why

These days the headline unemployment rate isn’t just an undercount, it actually paints an alternate reality that masks the degree to which low- and moderate-income people are hurting. As a result, policymakers believe these Americans are better off than they actually are.

January 25, 2021

LISEP News

LISEP Research

Politico

US Regulators Should Prod Lenders to Help Minority Communities

Present markets will probably prompt lenders to serve wealthier individuals and bigger companies first, exacerbating inequality. Fortunately, regulators have within their grasp several tools to direct lending to the businesses and low-income families — including many minority communities — where it will do the most good.

US Regulators Should Prod Lenders to Help Minority Communities

Present markets will probably prompt lenders to serve wealthier individuals and bigger companies first, exacerbating inequality. Fortunately, regulators have within their grasp several tools to direct lending to the businesses and low-income families — including many minority communities — where it will do the most good.

October 11, 2020

LISEP News

LISEP Research

The Financial Times

How the Fed’s Rescue Program Is Worsening Inequality

Outrage over generous loans to well-heeled businesses is obscuring another troubling problem: The Federal Reserve’s efforts to preserve liquidity in the corporate debt market are, however inadvertently, sending wealth up the income scale, exacerbating inequality.

How the Fed’s Rescue Program Is Worsening Inequality

Outrage over generous loans to well-heeled businesses is obscuring another troubling problem: The Federal Reserve’s efforts to preserve liquidity in the corporate debt market are, however inadvertently, sending wealth up the income scale, exacerbating inequality.

May 28, 2020

LISEP News

LISEP Research

Politico

Rosy Economic Data Belies a Harsh Reality for Many Americans

To read the economic reports coming out of Washington, you might assume that the American economy is firing on all cylinders. But beneath this rosy picture is a much darker reality.

Rosy Economic Data Belies a Harsh Reality for Many Americans

To read the economic reports coming out of Washington, you might assume that the American economy is firing on all cylinders. But beneath this rosy picture is a much darker reality.

May 15, 2019

LISEP News

LISEP Research

The Hill

Strong GDP and Jobs Numbers Don’t Tell the Whole Story about America's Economic Reality

A different picture emerges looking at the homeless people gathered by the Federal Reserve building in DC, or in visiting my hometown, York, Pennsylvania, where wages have stagnated and factories have closed.

Strong GDP and Jobs Numbers Don’t Tell the Whole Story about America's Economic Reality

A different picture emerges looking at the homeless people gathered by the Federal Reserve building in DC, or in visiting my hometown, York, Pennsylvania, where wages have stagnated and factories have closed.

July 16, 2018

LISEP News

LISEP Research

CNBC

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