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Betsey Stevenson

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In the Media

Stevenson analyzes Fed messaging

Mar 21, 2023 Bloomberg
Betsey Stevenson, Bloomberg: "I think sticking with 25 basis points is hopefully going to be sending the signal that they (the Federal Reserve) really do believe that the situation is stabilizing. That they don't need to veer from their planned...
Betsey Stevenson
News

February Jobs Report: Job Growth Shows No Signs of Slowing

Mar 10, 2023
The U.S. labor market grew by 311,000 jobs in February. Unemployment ticked up to 3.6%, while the number of employed expanded and the labor force participation rate also ticked up. Since October 2022, labor force participation has expanded slowly...
Rapid Insights graphic
In the Media

Stevenson discusses interest rate effects on labor market

Mar 7, 2023 Bloomberg
Betsey Stevenson, Bloomberg: "I think it's really hard to interpret the impact of the interest rate increases on the labor market. And the reason is that we would have to know the counterfactual—what would have happened in the labor market if we...
Betsey Stevenson
News

Stevenson and 200+ economists urge Congress to raise debt limit

Mar 5, 2023
As the United States heads toward its debt-ceiling deadline, political leaders are posturing as they struggle to find a compromise to prevent default. In response, over 200 U.S. economists, including Professor Betsey Stevenson, sent a letter to...
U.S. capitol
In the Media

Stevenson on jobs report timing

Mar 3, 2023 NPR Marketplace
Betsey Stevenson, NPR Marketplace: "This is one of those things where we all have rules of thumb, because they’re just easier to remember. So the first Friday of the month is way easier to remember than the actual...
Betsey Stevenson
In the Media

Stevenson analyzes inflationary pressure

Feb 11, 2023 The New Yorker
Betsey Stevenson, The New Yorker: "People always hate inflation. Even when inflation was at historic lows, survey data showed that eighty-three percent of Americans thought inflation was a problem. The President has very few levers. And, in this...
Betsey Stevenson
In the Media

Stevenson breaks down what's actually happening in the job market

Feb 9, 2023 The Wall Street Journal
Betsey Stevenson, The Wall Street Journal: "Since restaurants and hotels haven’t staffed up too much, they could avoid the fate of many tech companies that are laying off workers after overhiring earlier in the pandemic," said Betsey Stevenson, an...
Betsey Stevenson
In the Media

Stevenson discusses strong labor market

Feb 9, 2023 NPR Marketplace
Betsey Stevenson, NPR Marketplace: "Are employers trying to hire a bunch of phantoms — people who don’t exist? Are they just finding it too hard to find...
Betsey Stevenson
Publication

Stevenson provides lessons, advice for 118th Congress

Feb 6, 2023
As the 118th Congress begins, Americans’ trust in Congress and government is at an all-time low. Economist Betsey Stevenson lends her expertise to members of Congress in a new article for the Peter G. Peterson Foundation. First, Stevenson says,...
Betsey Stevenson
In the Media

Stevenson discusses trade-offs of inflation

Feb 5, 2023 NPR
Betsey Stevenson, NPR: "The thing about inflation is it hurts us all a little 'cause it's terrible, right? You go to the store, and we're all talking about the price of eggs. We feel it. We feel rents going up and food prices going up, but, you...
Betsey Stevenson
In the Media

Stevenson breaks down latest jobs report with The New York Times

Feb 3, 2023 New York Times
Betsey Stevenson, New York Times: "Basically, the hesitation and confusion that I think made it harder for employers and workers to find each other in the early parts of the recovery has started to abate. People are applying for jobs, and employers...
Stevensom SRM Subcommittee Hearing Teaser Display
In the Media

Stevenson discusses latest jobs report

Feb 3, 2023 Bloomberg
Betsey Stevenson, Bloomberg: "The truth is, this is a great number, 517,000 jobs, but there's a lot of room for error in this report. And if I was a betting woman, I would tell you that we'll probably see this corrected down a little bit. So I think...
Betsey Stevenson
In the Media

Stevenson on decreasing job churn and what it means for the economy

Feb 1, 2023 NPR Marketplace
Betsey Stevenson, NPR Marketplace: "I think it’s a reflection of an ongoing need to move back towards an economy that looks a little bit more like 2019. In terms of the mix of the types of goods and services that people buy." In other words, too...
Betsey Stevenson
News

Stevenson receives 2022 award for public engagement

Jan 31, 2023
President Santa J. Ono is honoring University of Michigan faculty members Betsey Stevenson and Lilia Cortina with the 2022 presidential awards for public engagement. The awards recognize the recipients’ demonstrated commitment to public service,...
Betsey Stevenson
In the Media

Stevenson explains tech layoffs

Jan 27, 2023 Yahoo! News
Betsey Stevenson, Yahoo! News: "They hired for magical thinking. So what they're having to do right now is readjust for reality. As you've already shown, the layoffs we're seeing here are small compared to not just the hiring they did during 2020...
Betsey Stevenson
In the Media

Stevenson breaks down new GDP numbers

Jan 26, 2023 MSNBC
Betsey Stevenson, MSNBC: "I think what we have learned is that when we give families and people enough money, to mean that we don't have a bunch of people who are at risk of eviction, losing their house, not putting food on the table, it gives them...
Betsey Stevenson
In the Media

Stevenson links technological advancement to income inequality

Jan 20, 2023 The Economist
Betsey Stevenson, The Economist: "I think that's a fair assessment, and I think the question is, why? And that's where the complications come in. Some of that is from what economists call skill-biased technological change. So we've seen the wages of...
Betsey Stevenson
In the Media

Stevenson breaks down latest CPI report

Jan 12, 2023 Washington Post
Betsey Stevenson, Washington Post: "What we saw in the inflation data is that what [the Fed] is doing is working. And so far, it hasn’t slowed the economy so much that we’ve seen net losses in jobs. We’ve seen some corrections in the labor market....
Betsey Stevenson
In the Media

Childcare is a societal issue - Stevenson

Jan 10, 2023 Care for Business
Betsey Stevenson, Care for Business: "It drives me crazy when I hear people describe (childcare) as a personal problem. It’s so many uniquely American, right? ... The inflation we’re facing right now has nothing to do with money, and has everything...
Betsey Stevenson
In the Media

Stevenson breaks down last jobs report of 2022 on Bloomberg

Jan 6, 2023 Bloomberg
Betsey Stevenson, Bloomberg: "It's a very strong jobs report. What we saw was ongoing job growth. 2021 was the strongest year of job growth we've ever had, and 2022 came in there as the second. We did see some slowdown as the year continued but even...
Betsey Stevenson
In the Media

Stevenson discusses how central banks see wage increases

Jan 3, 2023 CNN
Betsey Stevenson, CNN: "I think what you're hearing is central banks want to make sure that we're not seeing wage increases drive further inflation because then your wage increases aren't going to do you any good—it's just going to be used to pay...
Betsey Stevenson
In the Media

Stevenson looks ahead at interest rates and inflation

Dec 28, 2022 CNBC
Betsey Stevenson, CNBC: "I think it’s important to realize that the Fed sees themselves as having two tools right now to bring inflation down. One is bringing rates high, and then the other is keeping them high for longer. And I think one thing...
Betsey Stevenson
In the Media

Stevenson analyzes gender gap in retirement savings

Dec 27, 2022 NPR Marketplace
Betsey Stevenson, NPR Marketplace: Saving for retirement is harder for women because they generally earn less over their lifetimes, said Betsey Stevenson, an economist at the University of Michigan. “For a large number of reasons,” she...
Betsey Stevenson
In the Media

Stevenson breaks down tech layoffs

Dec 12, 2022 NPR Consider This
Betsey Stevenson, NPR Consider This: "I do not think it's indicative of a sector that's struggling. I think it's indicative of a sector that had gangbuster growth over the last couple years and maybe got a bit ahead of its skis thinking that that...
Betsey Stevenson