Jul 29, 2017
U.S. economy: sluggish but durable
"The U.S. economy acquired an exclusive label [yesterday]: Recession-free for eight full years ... the third-longest economic winning streak in American history" — AP Economics Writer Paul Wiseman.
- "Despite its longevity, ... [i]t's the weakest economic recovery since World War II."
- Why it matters: "[T]he economy is hardly the disaster that ... Trump insists he inherited. Employers have been hiring steadily, month after month, since 2010. A majority of Americans now enjoy unusual job security."
- But, but, but ... "[T]he expansion has been hobbled by a slow-growing labor force and by a puzzling slump in worker productivity, which is the amount of output produced, per hour worked."