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The global economy is
recovering. Yet many people around the world do not feel that things are
getting better—nor do they have much confidence that 2014 will bring
significant improvements.
To some extent, this perception is correct. Countries are not like boats in a rising tide, and high levels of inequality mean that increasing national averages often provide a misleading picture of the day-to-day realities most families face. In the United States, for example, the recovery is technically over four years old. But while stock markets are booming and those at the top of the income and wealth pyramid are doing very well, the majority of households have seen essentially no improvement in living standards. Although unemployment is declining, it remains high. And the headline numbers conceal an even larger contingent of discouraged workers. Of those that are employed, many continue to fear for their jobs.
To some extent, this perception is correct. Countries are not like boats in a rising tide, and high levels of inequality mean that increasing national averages often provide a misleading picture of the day-to-day realities most families face. In the United States, for example, the recovery is technically over four years old. But while stock markets are booming and those at the top of the income and wealth pyramid are doing very well, the majority of households have seen essentially no improvement in living standards. Although unemployment is declining, it remains high. And the headline numbers conceal an even larger contingent of discouraged workers. Of those that are employed, many continue to fear for their jobs.
http://carnegieendowment.org/2013/12/18/365-days-of-unequal-growth/gwoc?reloadFlag=1
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