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Specific demands have included everything from raising taxes on the rich to strengthening organized labor to abolishing the Federal Reserve.
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If both reports reflect a bolstered labor market, the Federal Reserve could put off any plans to further boost the economy.
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According to my calculations on data from the Bureau of Labor Statistics and the Federal Reserve, employment in business management and finance during the past 20 years correlated negatively at a moderate magnitude with changes in the interbank interest rate.
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Aerospace production grew at a seasonally adjusted rate of 5.8% in the fourth quarter while overall U.S. manufacturing shrank 1.9%, according to the Federal Reserve and the Department of Labor.
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"If Mississippi had the same minimum wage as San Francisco, it probably would cause a lot of unemployment, " speculates Eric French, a senior economist specializing in labor and health issues at the Federal Reserve Bank of Chicago.
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In providing the Federal Reserve rationale behind the extension, Bernanke cited a concern with future economic growth without improvements in the labor market.
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Nontheless, the labor group said that the bill is still "far from perfect, " adding that it continues to "reserve judgment" on the measure as it moves through Congress.
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