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Are Americans Benefiting From Recent Economic Growth?

Recent growth means little to most

American workers see significant gains

 Getty: David McNew / Staff

America’s economic growth is deceptive, asserts Katrina vanden Heuvel of The Washington Post. While the overall economy is doing well, this disproportionately benefits the wealthy and not the average person. Forty million US citizens live in poverty and 18.5 million in extreme poverty. Compared to other rich countries, America has much higher inequality, infant mortality rates and youth poverty. Forty percent of adults don’t have enough money for an unexpected expense of $400. One in four people skips important medical care because they can’t afford it. America’s GDP may be rising, but that barely affects the common man.

Keep on reading at the Washington Post

The US economy is soaring, much to the benefit of its citizens, holds Irwin M. Stelzer of the Weekly Standard. In May, 223,000 new jobs were created, 50,000 more than expected. The unemployment rate stands at 3.8%, the lowest in almost two decades. There are currently 6.6 million unfilled positions, the highest ever, which means that finding a job has become easier. In fact, employees are quitting in large numbers, which is likely due to the fact that there are so many alternatives now. Hourly wages have risen 2.7% since last year. While this economic growth will slow, American workers are seeing significant benefits that weren’t there a few years ago.

Keep on reading at the Weekly Standard
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