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US is not facing double-dip recession: Report

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CA ADITYA SHARMA

CA IN PRACTICE

16719 Points Joined May 2011

WASHINGTON: The US economy is not facing a double-dip recession , but weak job growth is "a call to arms" for policymakers to take steps to reinvigorate the private sector, a top White House adviser said on Friday.

"This is not a double dip," Council of Economic Advisers Chairman Austan Goolsbee told Reuters Insider after the government report showed the economy created only 18,000 jobs in June. "This is a reflection and reiteration that the growth rate slowed at the beginning of this year."

"This should be a call to action," he added. "We need to take bipartisan action to help the private sector stand up and start growing, hiring and investing," Goolsbee said.

He cited steps from passing free trade agreements to securing a deal on long-term deficit reductio

https://economictimes.indiatimes.com/news/international-business/us-is-not-facing-double-dip-recession-report/articleshow/9152853.cms

Replies (1)

raquelB

USA

30 Points Joined July 2011

As the economic crisis proceeds, investment becomes increasingly desirable in businesses which gain from tough times. Personal loan companies, pawn brokers, debt collectors and discount outlets are some of these sectors. Several investment advisers are pushing them over other industries which have been more worthwhile in the past. Installment loans may be the way to go right now as we sustain your finances or still look for a job. The unemployment rate rose to 9.2 percent in June, making many stocks plummet. The number of people living below the poverty line has risen to one in seven, the highest since 1994. Consumer spending has dropped for two months in a row. Times are hard, and nobody knows if or when they will get better.