Feb 6, 2024

Hard times in a ‘good’ economy – 1

The first in a series of posts on why, despite the fact that the U.S. economy is doing well by the usual measures of GDP growth and employment, the reality looks very different to many Americans:

On paper, Mr. Arias presents as an example of an improving economy. He is earning more than during the worst of the pandemic. He has health insurance, and is taking medication for his diabetes.

But he is earning less than half what he did before the unraveling began.

“It’s still hard,” he said. “You go to the store and buy $100 worth of groceries and there’s nothing in the car.”

Read more here.