Concerns Grow about Slow Job Growth, Inflation

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The US¡¯ 1gross domestic product shrank last quarter for the first time in 2 years and the economy is still facing another 2challenge: inflation.

¡°If you talk to the average American businesswoman and businessman, they¡¯re very 3discouraged. No wonder GDP is falling.¡±

Declaring a 4recession is complicated. But some analysts say one key measure is two 5consecutive quarters of 6inflation-adjusted GDP decline. It¡¯s something the Biden White House is hoping to avoid.

¡°It¡¯s 7incumbent upon all of us here, the Federal Government, the state and local as well as the private industry to continue to work together to help people scale up and get better, better knowledge and better ability to go on to better paying jobs. And that overall will help our economy.¡±

Consumer prices shot up 8.5 percent for the 12 months that ended in March -- a pace not seen since 1981, and it¡¯s hitting Americans in the wallet at places like the 8grocery store and the 9gas pump.

¡°Prices are higher than a lot of folks have seen in their adult lifetimes.¡±

As the 2022 10midterm elections loom, Republicans are blaming the Biden administration for the nation¡¯s financial woes.

¡°This is out of control. These rising prices we know are a direct result of policy choices made by the President of the United States, by, by Chuck Schumer, by leaders of the Democratic Party.¡±

Article from https://cnn.ybmnet.co.kr/cnn_class/2416