Robert Reich: America's hall of mirrors recovery

[marmar]

America's hall of mirrors recovery
US economic growth is grotesquely distorted, with the benefits bloating the 1%, while middle-class Americans are still pinched

Robert Reich
guardian.co.uk, Saturday 7 April 2012


The economy added only 120,000 jobs in March – down from the rate of more than 200,000 in each of the preceding three months. The rate of unemployment dropped from 8.3 to 8.2%, mainly because fewer people were searching for jobs – and that rate depends on how many people are actively looking.

It's way too early to conclude the jobs recovery is stalling, but there's reason for concern.

Remember: consumer spending is 70% of the US economy. Employers won't hire without enough sales to justify the additional hires. It's up to consumers to make it worth their while.

But real spending by American consumers (adjusted to remove price changes) this year hasn't been going anywhere. It increased just 0.5% in February, after an anemic 0.2% increase in January. ..................(more)

The complete piece is at: http://www.guardian.co.uk/commentisfree/cifamerica/2012/apr/07/america-hall-mirrors-recovery-robert-reich

[xchrom]

1. Du rec. Nt

[bvar22]

2. It is frightening to realize that....

... the only news outlets I trust are either on the Comedy Channel,
or located in a foreign country.

DURec.




You will know them by their WORKS,
not by their excuses.
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