Having undergone its longest expansion on record, the US economy appears to be thriving. But behind the headline numbers is a more complicated story: wages are growing, but not as fast as they should be; and inequalities based on place, race, gender, and other factors remain unacceptably high.
BERKELEY – The United States is enjoying the longest economic expansion on record, surpassing the decade-long growth run between 1991 and 2001. And yet, while most standard indicators – the unemployment rate, growth in non-farm payroll jobs, the number of job openings – imply a vibrant labor market, for too many Americans, the good times don’t feel particularly good. Wage gains for most workers have been stubbornly disappointing, barely keeping up with the cost of living; and more than 4.3 million workers who want full-time positions can find only part-time jobs.
BERKELEY – The United States is enjoying the longest economic expansion on record, surpassing the decade-long growth run between 1991 and 2001. And yet, while most standard indicators – the unemployment rate, growth in non-farm payroll jobs, the number of job openings – imply a vibrant labor market, for too many Americans, the good times don’t feel particularly good. Wage gains for most workers have been stubbornly disappointing, barely keeping up with the cost of living; and more than 4.3 million workers who want full-time positions can find only part-time jobs.