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Article: Jobless recovery expected as economy gains financial traction
- Article from:
- Whittier Daily News
- Article date:
- July 31, 2009
- Author:
CopyrightCopyright 2009 Whittier Daily News. Provided by ProQuest LLC. (Hide copyright information)
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To hear President Barack Obama tell it, the nation is gaining
financial traction largely because of the economic stimulus plan he
pushed through Congress after taking office.
"This and other difficult but important steps that we've taken
over the last six months have helped us put the brakes on the
recession," the president said Friday.
Few would argue that there have been positive signs.
On Friday, the Commerce Department reported that the economy
dipped only slightly in the second quarter of this year - falling at
a 1 percent annual pace.
That was a welcome relief after earlier figures showed the
economy plunged at an annual rate of 6.4 percent during the first
quarter.
Less drastic ...