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June 1 2011

Recovery?

Julie Gunlock

Despite efforts by the mainstream media to convince Americans that the U.S. economy is in recovery, let's just tick down a few recent facts about this so-called recovery:

National Unemployment: 8.9 percent.  According to Bloomberg, employment increased only by 38,000 last month, the smallest increase since September. 

Housing: According to the Case-Shiller monthly housing priceindex (released yesterday), house prices fell by 4.2% in the first quarter of 2011 (see CATO's new report here).

Gas Prices: average for a gallon of unleaded is $3.81. 

Food Prices: Up, up up!  Food prices soared 3.9 percent earlier this year. That's the biggest gain since November 1974.

Consumer confidence: The Consumer Confidence Index fell to 60.8 from a revised 66 in April on worries about jobs and inflation for groceries and gasoline. Economists had expected an increase to 67. A rating of 90 indicates a healthy economy.

There is a sliver of good news though.  Apparently wine prices are down.

Drink up!

Independent Women’s Forum’s mission is to improve the lives of Americans by increasing the number of women who value free markets and personal liberty. Sister organization of Independent Women’s Voice.
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