andyetf

The One-Sided Economic Recovery

In Uncategorized on February 11, 2011 at 10:38 am

US business as a whole has recovered from the rescession. Profits for US companies are up 12 per cent since 2007. That is much better than businesses in Canada, Japan and most of Europe.
Despite the increased profits, US businesses are not hiring. Jobs available to new employees are often part-time with no benefits.
This is the third economic recovery in twenty years with little job growth. Gallup poll shows US with higher unemployment than Britain, Germany, Japan, Russia, and China. Even if pace of job growth accelerates to record levels, we will not reach full employment until 2016.
So the recovery is one-sided. US business is on the rebound and doing better than ever. Unemployment for many remains on the horizon for years.

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