WASHINGTON (AP) — Steady economic growth can fuel gains in the financial markets. But what if that growth isn’t widely shared?
That may become a key question for investors. New research finds that the U.S. economic recovery since 2010 has been sharply uneven: The bulk of job growth and new-business creation has gone to the wealthiest 20 percent of communities.
John Lettieri, co-founder of the Economic Innovation Group, a think tank, says that as a result of the top-heavy recovery, the typical U.S. community has experienced much slower job growth and far fewer new businesses than are reflected in the national average. Many of the hardest-hit areas were still losing jobs four years after the recession had officially ended.
By: Christopher S. Rugaber, Associated Press
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