Tag: U.S. workers

‘Ominous Signs’ Loom Over US Economy — And Workers Still Struggle

President Donald Trump hasn’t been shy about citing economic data, pointing out how much unemployment has decreased in the U.S. and insisting that he is responsible — never mind the fact that unemployment was already down to 4.7 percent in December 2016, President Barack Obama’s last full month in office. Trump inherited an economic recovery; he didn’t create one singlehandedly.

But while the 3.7 percent unemployment rate the Bureau of Labor Statistics (BLS) gave for June is certainly an improvement over the financial misery and devastation that Obama coped with in 2009 and 2010 during the worst of the Great Recession, there are some troubling signs in current economic data — and those signs are examined in recent articles published by the Washington Post, the New York Times, and Bloomberg News. Continue reading “‘Ominous Signs’ Loom Over US Economy — And Workers Still Struggle”

Workers Haven’t Benefited From Economic Growth

Last week Trump will try to boast about the economy, but the reality is that economic growth is not expected to continue at the same rate and workers have not benefited.  Workers’ wages have actually decreased over the past year.

Economists said Q2 GDP growth was artificially high and economic growth would not continue at the same rate after this quarter.

CBS News: “An ‘idiosyncratic’ quarter: Not even bullish economists expect the pace of the second quarter’s growth to continue, however, because it’s driven by ‘a number of idiosyncratic factors that are unlikely to be sustained in the second half of the year,’ according to Morgan Stanley.” Continue reading “Workers Haven’t Benefited From Economic Growth”