Moderate conservative George Will writes about in Investors Business Daily. This is a good review of what’s happening in the economy.
The reason why unemployment fell by four-tenths of a point (to 6.3%) in April while growth stalled is that 806,000 people left the labor force.
The labor-force participation rate fell by four-tenths of a point to a level reached in 1978, which was during the Carter-era stagflation and early in the surge of women into the workforce.
There are about 14.5 million more Americans than before the recession but nearly 300,000 fewer jobs, and household income remains below the pre-recession peak.
[…]The more than $1.1 trillion of student loan debt — the fastest-growing debt category, larger than credit-card or auto-loan debt — is restraining consumption, as is the retirement of baby boomers. In 2012, more than 70% of college graduates had student loan debts averaging about $30,000.
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