Several key sectors of the economy are flashing some signs of weakness.
Housing, manufacturing and consumer spending — the U.S. economy's main driver — have been tepid of late. The pace of home building plunged in February. Factory output is slowing as a rising dollar makes U.S. goods costlier overseas and weakens exports. And retail sales remain sluggish, with Americans spending less at stores and restaurants last month.
The main engine of strength has been the U.S. job market. Employers have added more than 200,000 jobs for 12 straight months, and unemployment has reached a seven-year low of 5.5 percent, a rate typical of a healthy job market.
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The "official" government unemployment rate is bogus. It is a lie just like everything else coming out of this administration. When you include people who have dropped out of the workforce or who only have part time jobs the rate is more around 25%.
ReplyDeleteObama and associates have destroyed our economy.