The Next Recession Will Make Income Inequality a Lot Worse ...Middle East

By nearly every objective measure, the Biden economy is thriving. The unemployment rate is a very low 3.6 percent. Corporate profits were up 25 percent in December 2021 over the year before, and they continued to rise during the last three months of 2021. Average hourly wages are up 5.5 percent over April 2021 on a nominal basis, and the rate at which workers quit their jobs—a key measure of their confidence about securing a better one—has never been higher. Writing in The New York Times earlier this month, David Streitfeld observed that “For the 158 million who are employed, prospects haven’t been this bright since men landed on the moon.”Still, the expectation is taking hold that the econo

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Last updated : 31 May 2022 clock 01:24 PM

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