A recent study, "Wage Woes" by Russ
Koesterich at BlackRock examines what is missing in the post-Great Recession
recovery and how this missing factor is going to impact growth rates in the
economy.
Let's open with a look at two key
aspects of the economy; real disposable personal income and real personal consumption
expenditures. Here is a graph showing how real (after
inflation) per capita disposable personal income has changed since the Great
Depression:
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