Weakness in the current recovery
Paul Krugman points out that, while the economy has grown considerably recently, incomes from wages and salaries have lagged behind. When GDP grew at 8.2% in the third quarter, wage and salary income only grew by 0.8%. Job growth has also, so far, lagged behind "the roughly 150,000 jobs needed to keep up with a growing working-age population." Krugman's column in today's New York Times is here: "Our So-Called Boom".
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