Strong numbers, and what policymakers can do next.
The Roosevelt Rundown features our top stories of the week.
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** Today’s Jobs Numbers in Context
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The US economy added 372,000 jobs in June, signaling continued strong growth.
“Not only is the job number fantastic for our ‘are we in a recession?’ moment, it's great for basically any month period,” Roosevelt’s Mike Konczal tweeted ([link removed]) .
“To put how good 372,000 new jobs are in context, it's higher (as a percent of employment) than 79 percent of monthly job numbers since 1980.”
However, childcare shortages are still limiting ([link removed]) many women’s ability to work, hurting their careers and the economy as they cut back on work or forgo jobs to balance care responsibilities.
What can policymakers do to address the childcare crisis? A lot—starting with supply-side investments ([link removed]) in the childcare industry.
** The Economic Costs of COVID-19
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As cases rise again, the COVID-19 pandemic poses another ongoing threat to workers and the economy.
In a new analysis, Julia Raifman and Roosevelt fellow Aaron Sojourner find that over the past two years, low-income, Black, and Latino workers were more likely to report missing work due to COVID-19 symptoms.
“The current COVID-19 policy paradigm has not adequately addressed the precarity faced by low-income communities and communities of color,” they write ([link removed]) .
“In addition to reducing potential exposure levels, policy should also address the disproportionate economic and health costs of falling sick that these communities face.”
Read “Protecting High-Risk Individuals Means Considering the Economic Cost of COVID-19.” ([link removed])
** How the USPS Could Provide Public Banking
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“[O]ur current banking and financial system—privatized and expensive—is a barrier to economic entry for millions of people,” Roosevelt’s Emily DiVito writes ([link removed]) .
“To fix this, we need a public banking option that treats money, and the systems through which it moves in the economy, as a public good. . . a modern public banking option could blend free, accessible accounts (such as FedAccounts managed by the Federal Reserve) with retail services provided at post offices.”
Learn more in “Banking for All: How the USPS Could Provide Public Banking.” ([link removed])
** What We’re Reading
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Americans Are Losing Their Right to Not Conform ([link removed]) - New York Times
Biden’s Indo-Pacific Economic Framework Is a Paradigm Shift ([link removed]) - Foreign Policy
Radical Taxation ([link removed]) - Dissent
The New Productivism Paradigm? ([link removed]) - Project Syndicate
California Will Make Its Own Insulin to Fight Drug’s High Prices, Newsom Says ([link removed]) - Washington Post
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