(NNPA)—Judging from its June 18-19 meeting, the Federal Reserve is hedging its bets. It says the U.S. economy is on the mend, but more slowly than expected. They’ve reduced their estimate for economic growth and say that it will take a year or more to get to where we were six years ago.
The International Monetary Fund has offered a starker forecast. Expected growth for the United States is about 3 percent, a level considered “normal” and “in recovery.” They projected something right above 2 percent earlier this year. Now, they say the United States economy will grow at about 1.9 percent, below robust recovery, and that it will take until 2018 to get the labor market back on track.
Meanwhile, the stock market seems to signal a healthy recovery, and surveys of human resource professionals found that more employers are offering signing and retention bonuses to get the best employees and to keep them. Obviously, the nearly 10 million people who are unemployed aren’t being offered any kind of bonuses. Most of them just want work. That’s not to mention the 3.4 million people who have not worked in half a year or more. Bonus? Please.
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