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Fewer construction workers means less — and slower — residential construction, which in turn leads to higher home prices, according to a 2023 report from researchers at the University of Utah and the University of Wisconsin-Madison. Builders and infrastructure projects are in desperate need of all kinds of construction workers, but especially skilled tradespeople. Simonson said that allowing more immigrants into the country to fill construction jobs is crucial. Making the industry more appealing to womenBoushey pointed out that the share of women in the overall construction industry has climbed. The construction industry is also at a disadvantage because most workers can't do manual labor until they retire.
Persons: , Ken Simonson, Kit Dickinson, Dickinson, Ben Brubeck, Maja Rosenquist, Mortenson, we've, Simonson, Brubeck, Rosenquist, Joe Biden, Franklin D, Roosevelt, Heather Boushey, Biden, Boushey, she's Organizations: Service, Associated Builders and Contractors, Business, Associated, Contractors of America, University of Utah, University of Wisconsin - Madison, ADP, , Builders, Infrastructure Investment, Jobs, Economic Advisers Locations: president's, America
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFocusing on the supply side has really helped lower inflation: WH economic adviser Heather BousheyHeather Boushey, White House Council of Economic Advisers member, joins 'Squawk Box' to discuss the state of the U.S. economy, inflation outlook, and more.
Persons: Heather Boushey Heather Boushey Organizations: White House Council, Economic Advisers Locations: U.S
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHeather Boushey: U.S. has seen stronger growth than other G7 nationsHeather Boushey, a White House Council of Economic Advisers member, speaks to CNBC's Charlotte Reed at the Aix-en-Provence economic forum.
Persons: Heather Boushey, CNBC's Charlotte Reed Organizations: White House Council, Economic Advisers Locations: Aix, Provence
watch nowThe Covid-19 pandemic, rather than Joe Biden's economic policies and stimulus packages, is the "real cause" of high inflation, according to a member of the U.S. President's Council of Economic Advisers. "Had we done that, and the United States' inflation spiked higher than anyone else, well, maybe you could make the case that it was about that policy," Boushey added. "But the reality is, is that that isn't what happened — yes, the United States had inflation, but so did other countries that did not have the same policies." "So the inflation, the real cause was the global pandemic, and that is about the resiliency of our global supply chains." Expanding on her point, Boushey said this was why the U.S. was "making the investments that we need to make."
Persons: Joe Biden's, Heather Boushey, Charlotte Reed, Boushey Organizations: President's, Economic Advisers, American, Congress Locations: Aix, Provence, France, Jan, United States
"We're keeping a particularly close eye on the current tensions between the U.S. and China," said Florent Menegaux, chief executive of French tyremaker Michelin. "When we see the impact that the IRA will have (on European companies), I think we haven't talked enough about it at this conference," a senior banker said. "There is a big risk that European companies will shift their investments (from Europe to the United States)." Some say the main concern is the time taken by European Union authorities to respond. "I understand the frustration, but when you look at the details of the extent to which the United States is subsidising its domestic industry, it is not greater than what the Europeans do themselves," Boushey said.
Persons: Jean, Dominique Senard, Ludovic Marin, Florent Menegaux, Menegaux, Christel Bories, Bories, Veronika Grimm, Heather Boushey, Boushey, Mathieu Rosemain, David Holmes Organizations: Renault SA, U.S, French, Michelin, Renault, European Union, Reuters, White House Council, Economic Advisers, Thomson Locations: Japan, Douai, France, PROVENCE, United States, China, Europe, Indonesia, America
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBiden has prioritized inflation & getting economy back on track: WH economic adviser Heather BousheyHeather Boushey, Council of Economic Advisers member, joins 'Squawk Box' to preview President Biden's major economic speech later this morning, the Biden economic agenda and its impact on the economy, and more.
Persons: Biden, Heather Boushey Heather Boushey, Biden's Organizations: Economic Advisers
After a pandemic-era tech jobs boom — and now bust — more and more Americans are returning to blue-collar work for better pay and more security. As AI stands poised to potentially remake white-collar work, blue-collar work may emerge even more resilient. The Biden administration has been devoted to turning that around, pouring billions into projects devoted to bringing manufacturing jobs back stateside. And another key to the puzzle is treating blue-collar work with respect, like any other work — including high-paying tech jobs. Are you thinking of taking the plunge into blue-collar work, or have you already?
WASHINGTON, May 2 (Reuters) - A top White House economist on Tuesday said Federal Reserve interest rate hikes aimed at curbing inflation were having a negative impact on the banking sector, and warned Republicans against worsening the situation with their debt ceiling threats. Heather Boushey, a member of the White House Council of Economic Advisers, told Reuters that Republicans should not be "playing games" with the U.S. economy. "The Fed is raising interest rates in the hope of reducing inflation. That is having this negative effect on the banking sector. Boushey said Congress could easily remove the risk of default by raising the debt ceiling, while the broader issue of interest rates and their impact on bank assets was a far more complicated question that no single entity had the power to solve.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe U.S. should not become a deadbeat nation, says White House economic adviser Heather BousheyHeather Boushey, a White House Council of Economic Advisers member, joins CNBC's 'Squawk Box'' to discuss the looming debt ceiling deadline and whether a bipartisan deal can be reached.
[1/7] U.S. President Joe Biden delivers remarks on childcare and eldercare costs during an event in the Rose Garden at the White House in Washington, U.S., April 18, 2023. Biden signed the order, which includes over 50 specific actions, in the White House Rose Garden, flanked by family caregivers, people with disabilities, older adults and early childhood and long-term care workers. "The executive order doesn't require any new spending. The executive order was also welcomed by AARP, a major lobbying group for older Americans, and the AFL-CIO, the largest U.S. labor organization. Heather Boushey of the White House Council of Economic Advisers (CEA) told reporters that childcare and eldercare shortages and soaring costs limited the ability of many women to work, constraining labor supply and dampening economic growth.
"What Biden and his advisers are doing is solving problems that exist in the economy. They are pushing forward an agenda aimed at building things in America again ... and taking on corporate power," he said. A Department of Energy provision in the act requires companies to focus on workforce training, ensure diversity and engage "environmental justice" communities in planning. Key provisions on universal child care and better working conditions for child care workers were stripped out of bills last year. Julie Su, just tapped to be labor secretary, launched a campaign against "wage theft" by employers as a labor activist.
The decision, announced after financial markets closed, gives Biden a pair of trusted Washington insiders to steer economic policy as the risk of recession fades but inflation lingers. Big fights also loom with the Republican-controlled House of Representatives over raising the debt ceiling. The shakeup comes as the White House tries to tackle what officials view as a frustrating disconnect between relatively strong economic data and weak public sentiment. The White House has refused to discuss spending cuts without a debt ceiling vote first. Bernstein last week conceded that the White House's early description of inflation as "transitory" had missed the mark.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe see signs of easing inflation, says White House economic adviser Heather BousheyHeather Boushey, Council of Economic Advisors, joins 'Squawk Box' to discuss the strength of the U.S. economy, the Federal Reserve's mandate, and more.
WASHINGTON, Feb 2 (Reuters) - U.S. President Joe Biden will call on Thursday for government agencies to expand federal workers' access to paid and unpaid leave as he joins with former President Bill Clinton to mark the 30th anniversary of the 1993 Family and Medical Leave Act. The law, the first Clinton signed after taking office, guarantees that certain workers may take up to 12 weeks of unpaid leave without losing their jobs or health insurance benefits. On Thursday, he will issue a presidential memorandum calling on federal agencies to support access to leave without pay for federal workers, including during their first year of service. She said the Biden administration would "do whatever we can do by executive action" to advance protections for workers while continuing to push for national legislation ensuring paid family and medical leave. Heather Boushey, a member of the White House Council of Economic Advisers, said such changes would buttress the strength of the U.S. economy.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhite House economist: Friday's jobs report was 'goldilocks' place we want to beHeather Boushey, a White House Council of Economic Advisers member, joins CNBC's 'Squawk Box' to discuss Friday's jobs report, how the White House is addressing inflation, and more.
WASHINGTON, Jan 6 (Reuters) - The U.S. economy appears headed for a soft landing, with recent economic data pointing to an ongoing recovery, not a recession, White House economist Heather Boushey told Reuters on Friday. Asked whether the United States could avoid a recession, Boushey, a member of the White House Council of Economic Advisers, said, "There are no indications that that is where we are now." "The steps have been taken and it looks like we are in a very good position to have that soft landing that everyone is talking about," she said. A soft landing is the ideal Federal Reserve policy goal after raising interest rates, a situation in which inflation slows but there are not enough job losses to trigger a recession. President Joe Biden had hoped to enact reforms to fund universal preschool and ensure improvements to the "care economy," but failed to win sufficient support in Congress.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailReducing inflation remains an economic priority in Biden administration, says White House economistHeather Boushey, a White House Council of Economic Advisers member, joins CNBC's 'Squawk Box' to discuss this week's upcoming inflation data and the Fed's rate decision.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhite House economic adviser Heather Boushey: We have seen signs inflation is abatingHeather Boushey, a White House Council of Economic Advisers member, joins CNBC's 'Squawk Box' to weigh in on President Joe Biden's vow to defend Taiwan if China attacks and what it means for the global economy.
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