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U.S. economy out of the woods?

EconoMeter panel reacts to latest job numbers

Roger Showley, U-T SAN DIEGO

Friday, December 12, 2014

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Kelly Cunningham, National University System
Answer: NO

The economy continues to underperform in the longest recovery since the Great Depression. Employment changes are either coincident or lagging indicators of economic activity. Several more months of sustained job gains are needed to show solid growth. Many jobs added are part-time or temporary, while labor force participation continues to dwindle. Young workers in particular are struggling in today's economy. Although far more educated than earlier generations, they are less likely to have a job, and more prone to live in poverty according to Census Bureau data. America’s continuing transition into part-time economy of mostly underemployed young people remains troubling.