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Joint Economic Committee Democrats

Publications

Dec 07 2023

Climate Risks Are Already Destabilizing Insurance Markets and Threatening Americans’ Financial Security

Climate change threatens not only the health of the planet but also Americans’ financial well-being. Climate disasters can quickly undermine the value of people’s homes, while the broader effects of the climate crisis can disrupt the health of the broader financial sector. One clear example is in the home insurance market, where climate-exacerbated risks from hurricanes and wildfires are making parts of America hard to insure.

Climate change threatens broader financial stability too, both through direct risks to the real estate market, but also through portfolio risks that could impact pensions and mutual funds. Adequately characterizing and valuing these climate risks with better data and analysis can inform decision making and regulations to mitigate climate financial risk. Policymakers should ensure that financial markets integrate climate risks into their decision making and turn away from anti-capitalist efforts to prevent the financial sector from accounting for environmental risk factors.

Nov 30 2023

Youth Employment Programs Can Grow the Economy, Expand Opportunity, and Improve Public Safety

Young adults who are engaged in either work or school strengthen our communities and provide significant economic benefits. When policymakers invest in supporting opportunity youth, defined as those between 16 and 24 who are neither in school nor working, the benefits are widespread and long term.

Expanding employment opportunities for opportunity youth—including through proven year-round and summer job training programs—can help improve work readiness, expand professional networks, boost earnings, and reduce interaction with the criminal justice system. Certain programs have also been shown to improve public safety and reduce gun violence. There are several avenues for Congress to invest in these proven programs, including through a reauthorization of the Workforce Innovation and Opportunity Act (WIOA) and other federal initiatives.

Nov 17 2023

Inversión en el Futuro de Energía Renovable Puertorriqueña

Puerto Rico está retomando el camino hacia el crecimiento a pesar de los desafíos de las últimas dos décadas. Ahora hay una oportunidad para mantener e impulsar ese crecimiento a través de inversiones a gran escala en infraestructura crítica. El Congreso de los Estados Unidos ha destinado 12 mil millones de dólares en fondos de ayuda para reconstruir el sistema energético de Puerto Rico, incluyendo la modernización de la red eléctrica, en respuesta a la destrucción causada por múltiples desastres naturales. Estos fondos ofrecen una oportunidad para invertir en una red moderna que facilite la transmisión y distribución de energía renovable, así como en infraestructura de generación renovable. Un sistema energético más resistente que utilice fuentes más limpias y producidas localmente protegerá la salud y el bienestar de las comunidades, y proporcionará una base sólida sobre la cual Puerto Rico puede construir un crecimiento económico más fuerte y equitativo.

Nov 17 2023

Investing in Puerto Rico’s Clean Energy Future

Puerto Rico is once again beginning a path to economic growth despite multiple challenges over the past two decades. There is now an opportunity to maintain and bolster that growth through large-scale investment in critical infrastructure. The U.S. Congress has appropriated $12 billion in relief funding to rebuild Puerto Rico’s energy system, including modernizing the energy grid, in response to the destruction that multiple natural disasters had caused. These funds offer an opportunity for investment in a modern grid that facilitates renewable energy transmission and distribution, as well as in renewable generation infrastructure. A more resilient energy system that uses cleaner, domestically produced sources will protect communities’ health and wellbeing, and provide a strong foundation on which Puerto Rico can further build a future of strong and more equitable economic growth.

Nov 17 2023

State by State Fact Sheets: October Employment Data

Each month, the Bureau of Labor Statistics (BLS) releases national and state-level data on U.S. employment, which provide useful information about the state of the labor market and progress toward building a better America. To highlight key trends in the monthly data, the Joint Economic Committee compiles state-by-state fact sheets for all 50 states, the District of Columbia, and Puerto Rico. The most recent state-level data, which cover the month of October, were released on November 17, 2023. The latest national data were released on November 3, 2023.

Nov 09 2023

State and District Fact Sheets on Economic Progress Under Democrats

Congressional Democrats and President Biden passed historic economic legislation that continues to lower costs, support jobs, and grow the economy across the country. The JEC Democratic staff has produced state and congressional district fact sheets on how Democrats are lowering the cost of prescription drugs and health insurance, spurring job growth across the country, and boosting investment in vital infrastructure and clean energy.