How American consumers lost their optimism

Financial Times/Gillian Tett/7-6-2023

grapic illustration of gloomy person“[Shared Economic Prosperity] also argues that functional unemployment rate is above 20 per cent — not the official 3.7 per cent — because so many “jobs” are deeply insecure and low-paying. If so, that might explain the gloom.”

USAGOLD note: Tett probes what might be behind American gloom. Perhaps the headline statistics do not reflect what’s really going on in the US economy.

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