Press Releases | Economic Growth

News from EPI Even worse than we thought: Anemic GDP growth explains increase in unemployment rate

For Immediate Release: Friday, July 29, 2011
Contact: Phoebe Silag or Karen Conner, 202-775-8810

Today’s report on gross domestic product indicates that the U.S. economy has grown at a disastrously slow 0.9% rate for the entire first half of 2011. This anemic growth is why the unemployment rate stopped falling and actually began rising during these same six months. Worse, Washington’s rush to fiscal austerity will make the problems of slow growth and joblessness even worse,” said EPI economist Josh Bivens.

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