Putting Our Slow Jobs Recovery Into PerspectiveBy
Disappointing, but not shocking. The government’s report Friday that the economy created fewer jobs than expected in April—115,000—showed an unwelcome deceleration of America’s job-creating machine. Economists surveyed by Bloomberg News had a median forecast of 160,000 jobs created. In the big picture, though, the nearly three-year-old expansion is proceeding at the same pace as the previous two. Slow recovery, in other words, is the New Normal.
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