Putting America’s Recovery to Work
The US economy grew much more quickly than expected last year, and the recovery is set to strengthen further this year. But, as long as significant slack in the labor market remains, most workers will not share in the gains of accelerating growth.
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BERKELEY – America’s economy grew much more rapidly than expected in 2013 and appears poised to strengthen further this year. But there is still considerable slack in the labor market, and, as long as it persists, the gains from faster growth will continue to be concentrated at the top of the income distribution, as they have been throughout the recovery.