Has America entered a â??new normalâ? defined by lower economic growth and declining workforce participation? Some evidence may suggest that is the case, but a closer look reveals it is too soon to make that claim.
The ongoing economic recovery from the recent recession remains about half that of past recoveries. Real gross domestic product growth is lethargic. The percentage of Americans participating in the workforce is the lowest it has been since the late 1970s. It takes almost twice as long for the unemployed to find work than it did before the recession, and those with jobs do not see raises as often as in the past.
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