The US economy is in an extremely precarious position, as indicated by the unfavourable performance of the labour market
The latest jobs report shows that the US economic recovery has slowed down. Outside of agriculture, the number of jobs increased by 49,000, with the private sector only able to provide 6,000 jobs. At the same time, 36 million Americans find themselves in a situation where they can’t even afford food.
“The statistics show what a dangerous situation we are in”, – said White House economic adviser Jared Bernstein against this background.
News Front also previously reported on the US’ problems with skyrocketing national debt. It has gotten to the point where Washington is borrowing money to support multinational corporations, sometimes dubious congressional projects and even well-connected people.
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