Newspaper article St Louis Post-Dispatch (MO)

Economic Anemia

Newspaper article St Louis Post-Dispatch (MO)

Economic Anemia

Article excerpt

Perhaps we need a new word to describe the economy. The old standby, recession, doesn't officially apply, since the economy is growing. But it is growing so slowly and so unevenly that some workers and families are still living in a state of recession, even as others are beginning to prosper modestly.

The economy's rate of growth in the third quarter has just been reported as 2.8 percent - a pretty good number compared to the average of roughly 1 percent in the first two quarters of 1993. Many businesses and consumers are increasingly hopeful that the latest rate of growth will be sustained for the rest of the year and 1994. But it will not be enough to alleviate the near-permanent recession to which many are still condemned. Nor does it promise to cut the unemployment rate much, if at all.

To be sure, 3 percent growth is better than 1 percent growth. The latter would drive the unemployment rate back up and threaten to push the economy back into recession. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.