Are we headed towards another recession?
A country experiences an economic slowdown when its industrial production lags, its jobs market shows a dismal performance, corporate profits deteriorate, and the general standard of living declines.
Sad to say, this is exactly what the U.S. economy is experiencing right now.
Industrial production in the U.S. economy is anemic. For the month of July, industrial production in the U.S. economy remained unchanged; in June, it saw a menial increase of 0.2%; in May, it was flat; and in April, industrial production declined 0.4%. (Source: Federal Reserve, August 15, 2013.)
Last month, the production of consumer goods in the U.S. economy declined by 0.5%.
Moving onto the jobs market in the U.S. economy, while politicians certainly do a good job at making it sound like the employment picture is improving, the majority of jobs created since the Great Recession have been in low-wage-paying sectors.