Writing in the latest Money magazine, CNN’s Ali Velshi highlights some economic news that can’t bode well for the current administration.
At 8.2%, the unemployment rate is almost a full percentage point lower than it was a year and a half ago. Two problems: First, that number is still high. Second, it’s stopped declining as the rate of job creation has slowed to a crawl.
The income numbers are even worse: The inflation-adjusted median wage fell 2% in 2011, after ticking down 0.5% in 2010. So our income score declined from 4.2 to 1.5 [on a 10-point scale]. … The data so far for 2012 show wages are flat, which isn’t exactly cause for celebration.