Economic growth is necessary for broad-based increases in living standards. The U.S. economy today, despite 4 straight quarters of economic growth, remains smaller than it was before the recession began. If the average post-war path following recessions had been followed, the economy would be almost 8% larger than it was at the onset of recession. Clearly, the U.S. economy has a long way to go before it can be declared truly healthy.
A historically slow recovery
Even after five quarters of growth, the U.S. economy is still smaller today than it was when the recession began.
Recent Work on Macroeconomic Performance
News from EPI: Zero job growth ominous start to Labor Day weekend
Putting America back to work: Policies for job creation and stronger economic growth
America, you are being told to tough it out
It’s still the economy, Congress, not the concocted debt ceiling crisis
News from EPI: Slow economic growth raising unemployment rate
News from EPI: Even worse than we thought: Anemic GDP growth explains increase in unemployment rate
Slow economic growth raising unemployment rate
News from EPI: Employment during the economic recovery
News from EPI: Slow-moving recovery marks two-year anniversary
News from EPI: Post-Great Recession recovery marked by public-sector losses
Worst economic crisis since the Great Depression? By a long shot.
