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Upbeat White House Report Points To More Jobs, Higher Wages
npr ^ | 2-22-2016 | SCOTT HORSLEY

Posted on 02/22/2016 7:39:51 PM PST by Citizen Zed

The U.S. labor market has recovered faster than expected, though that strength is tempered by economic challenges both at home and abroad, according to an annual assessment from the president's Council of Economic Advisers.

The 430-page "Economic Report of the President" released today summarizes recent developments in the economy and highlights areas where the administration sees room for policy improvements.

This year's report notes that the unemployment rate has fallen more quickly than most analysts predicted, dropping to 4.9 percent in January. That tightening job market is finally showing up in larger paychecks. Wage growth over the past 12 months is the strongest it's been since the Great Recession. The combination of more jobs and higher wages has helped push consumer sentiment to its highest level since 2004.

But the report also highlights potential problems on the horizon. Slow growth in other countries, such as China, has limited demand for U.S. exports. Deteriorating roads, bridges and other public works are also a drag on U.S. growth -- a problem that was only partially remedied last year when Congress passed the first major highway bill in more than a decade.

The steep drop in oil prices was expected to give a big boost to the U.S. economy, but it's turned out to be pretty much a wash. Low prices at the gas pump have left consumers with more money to spend elsewhere, but that's largely been offset by a decline in domestic drilling activity.

White House economists also devote considerable attention to income inequality, which has emerged as a major theme in the 2016 presidential campaign. While the Affordable Care Act and changes to the tax code have made a modest difference in balancing after-tax incomes, "there's a lot more that we need to do," said Jason Furman, chairman of the Council of Economic Advisers. The report notes that the seeds of inequality are often planted early, and suggests long-term benefits from greater public investment in the health care, education and well-being of children.


TOPICS: Chit/Chat
KEYWORDS: economy; potemkin
What can go wrong once Bernie takes over?
1 posted on 02/22/2016 7:39:51 PM PST by Citizen Zed
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To: Citizen Zed
NPR, the Russian equivalent of Pravda.
2 posted on 02/22/2016 7:41:43 PM PST by Fungi
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To: Fungi

In other words, more people have stopped looking for work and are now under the table. Manufacturing is still losing jobs.


3 posted on 02/22/2016 7:44:06 PM PST by jessduntno (The mind of a liberal...deceit, desire for control, greed, contradiction and fueled by hate.)
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To: Citizen Zed
Upbeat White House Report Points To More (government) Jobs, Higher (government) Wages.

The view is always better on the top.

4 posted on 02/22/2016 7:44:21 PM PST by skeeter
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To: Fungi

While thousands of jobs leave the country.


5 posted on 02/22/2016 7:44:31 PM PST by stocksthatgoup (Trump for me. I want to see Hillary, Bernie or any demoncrap crushed)
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To: Citizen Zed

We’re all going to be rich!


6 posted on 02/22/2016 7:45:07 PM PST by E. Pluribus Unum ("The goal of socialism is communism... Hatred is the basis of communism" --Vladimir Lenin)
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To: Citizen Zed

4.9% unemployment with 94 million Americans not working and record numbers of people on food stamps. I think I prefer the old fashioned way they counted unemployment.


7 posted on 02/22/2016 7:45:30 PM PST by Blood of Tyrants (Liberals are the Taliban of America, trying to tear down any symbol that they don't like.)
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To: Citizen Zed
More jobs for illegal immigrants, higher wages for billionaire Dem donors.

Or was that the other way around? Higher wages for billionaire Dem donors, more jobs for Democrats?

8 posted on 02/22/2016 7:46:20 PM PST by grey_whiskers (The opinions are solely those of the author and are subject to change without notice.)
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To: Citizen Zed

Looking forward to higher wages!

Haven’t had a raise in 6 years.


9 posted on 02/22/2016 7:47:18 PM PST by ButThreeLeftsDo (Get Ready)
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To: Citizen Zed

LOL! More satire from NPR and its White House.


10 posted on 02/22/2016 7:56:43 PM PST by FlingWingFlyer (The Supreme Court is a joke being played on the American people.)
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To: Citizen Zed

Dennis Miller said that if everybody stops looking for a job tomorrow, we can bring the “unemployment” rated down to 0%. Sounds like a good plan. LOL!


11 posted on 02/22/2016 7:58:23 PM PST by FlingWingFlyer (The Supreme Court is a joke being played on the American people.)
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To: Citizen Zed
White House says that the White House is awesome!!!

That's great....just great.

12 posted on 02/22/2016 8:00:29 PM PST by BookmanTheJanitor
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To: Citizen Zed

I just love these satire articles.


13 posted on 02/22/2016 8:46:05 PM PST by UCANSEE2 (Lost my tagline on Flight MH370. Sorry for the inconvenience.)
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To: Citizen Zed

They’ve been doing that every year. Not happening.


14 posted on 02/22/2016 8:51:35 PM PST by <1/1,000,000th%
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To: Citizen Zed

Real unemployment is now at 22.5%.


15 posted on 02/22/2016 11:35:11 PM PST by kaehurowing
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