It’s been clear in the data for a while: The economic recovery is slowing. At the same time, the window for more stimulus to help boost that recovery is narrower than ever.
That decelerating pace was even more evident in the unemployment data released Friday, showing only 245,000 jobs were added in the month of November—dropping the unemployment rate from 6.9% to 6.7%.
The report comes as Congress is making progress on a new $908 billion stimulus bill, this time with bipartisan support. Even House Speaker Nancy Pelosi, who has long pushed for several trillion dollars in aid, has said the the smaller bill is a good jumping off point for further negotiations.
But with the slowing pace of the economic recovery and a winter without a widely-distributed vaccine, some economists are feeling exasperated with Capitol Hill: “C’mon, already!” exclaims Moody’s Analytics chief economist Mark Zandi.
“If we don’t … Read More