If this is a recovery, what would a slowdown be like?
- Median family income is down 4.4% from when the recession “ended”
- Black households are down 11%
- Hispanics down 4.5%
- Single moms down 7.5%
- Families with three or more children down 9.2%
- Gallup’s unemployment measure jumped to 8.6% versus 7.7% four weeks ago
- The share of underemployed climbed to 17.7%
- The payroll-to-population ratio dropped to an unsustainable 43.8%, from 63.5% in January 2010
We keep hearing economists say the economy is “firming up” and it’s poised for growth soon. What we see instead is an economy that, thanks to this administration’s misguided policies, has fallen and can’t get up.