Ball State Economist Says Economy Remains "Sluggish"
A Hoosier economist says the nation's latest jobs report bears out a continuing sluggish trend.
Dr. Mike Hicks of Ball State University says growth is too slow for the nation to feel like there's meaningful recovery. The U.S. Labor Department says the nation's economy added 209,000 jobs in July. That's down from 298,000 new jobs in June. Unemployment rose to 6.2 percent in July from 6.1 percent in June. Hicks says 209,000 jobs aren't enough to absorb the worker pool.
He adds many Americans are working part time which also makes measurable recovery seem hazy. Finally, Hicks says recession in China, Russia, Brazil and almost in Indiana spell continued potential problems for the U.S. economy.