James Pethokoukis: 9 reasons why the 4-year old US economic recovery is closer to awful than awesome. (here are some: 1. Annual US GDP growth, adjusted for inflation, has averaged an anemic 2.1% for the 15 full quarters of recovery, versus 5.1% during the same span after the severe 1981–82 recession. 2. As a result, the economy has yet to return to anywhere near its pre–Great Recession growth trend. If it had, the economy would be $1 trillion bigger today. 3. This recovery has seen the weakest increase in real disposable income of any of the seven most recent recoveries, according to ITG Market Research. 4. The average US household has recovered a mere 45% of the wealth lost during the Great Recession, according to the St. Louis Fed. 5. The economy has 2 million fewer private-sector jobs than it did at the January 2008 peak. ) aei-ideas.org/2013/06/9-reasons-why-the-four-year-old-us-economic-recovery-is-really-kind-of-awful-not-awesome/
Posted on: Thu, 06 Jun 2013 18:24:11 +0000
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