Obama falters in Gallup poll on economy: what that says about the recovery
Others see that manufacturing sector job growth has jumped around and ultimately leveled off since its February 2010 low point, reports the Washington Post. Obama has repeatedly championed the 500,000 manufacturing jobs added, but the paper’s Glenn Kessler reports that those gains were made a year ago and since then the trend is “downhill.”
“No one doubts that US-based manufacturing has experienced a very steep rebound from a deep recession,” said Alan Tonelson, a research fellow at the US Business and Industry Council in an interview with Kessler, but “it has slowed to a crawl over the last year or so.”
Meanwhile, on Obama’s second point, in 2012 home sales “rebounded to the strongest level in five years” – with CNN citing low mortgage rates, a drop in foreclosures, and rising home prices as drawing more consumers back to the market.
And while not everyone agrees that the stock market provides a clear window into a recovery, it’s surge in 2013 is viewed positively. The Dow Jones Industrial Average closed at an all-time high – 15,658.36 – earlier this month.
This type of growth, however, leads some to determine that the wealthy benefit disproportionately. “Economic recovery favors the more affluent who own stocks,” concluded the Pew Research Center.
Considering these and other markers, many prognostications suggest, much as the president does, that the nation is engaged in a slow recovery. Still, Bloomberg deemed the path “fitful” for the first half of 2013, following federal spending cuts and tax increases that delayed growth earlier in the year.