Greenspan: U.S. recovery "extremely unbalanced"

[웃 910]

LINK

Greenspan: U.S. recovery "extremely unbalanced" WASHINGTON, Feb 23 (Reuters) - Former Federal Reserve Chairman Alan Greenspan said on Tuesday the U.S. economic recovery was "extremely unbalanced," driven largely by high-income people benefiting from recovering financial markets and large corporations.

Greenspan, speaking to a Credit Union National Association conference, said small businesses and lower-income people are still suffering from the aftermath of a credit crunch that was "by far the greatest financial crisis globally, ever."

Greenspan said he believed that staffing levels at U.S. firms remained below what was sustainable in the long run, pointing towards a modest recovery in job creation. But he added the unemployment rate may remain stubbornly high.

(Reporting by David Lawder, Editing by Chizu Nomiyama) ((david.lawder@thomsonreuters.com; +1 202 898 8395; Reuters Messaging: david.lawder.reuters.com@reuters.net))

[w¡n9Nµ7 §£@¥€r 123]

It's true. I keep hearing about unemployment being so out of control and yet I don't know any unemployed IT people anymore. They've all found work. Every one of them. And not one of them has found work in Jersey, they're all working for the big banks in the city now. Unbalanced? Hell yes.

[Ali G. 37]

It's true. I keep hearing about unemployment being so out of control and yet I don't know any unemployed IT people anymore. They've all found work. Every one of them. And not one of them has found work in Jersey, they're all working for the big banks in the city now. Unbalanced? Hell yes.

Very true. My friend is earning big $$$ doing IT work for a bank in NYC.. I am talking about a six digit, starting with a three type of salary here..

[w¡n9Nµ7 §£@¥€r 123]

Very true. My friend is earning big $$$ doing IT work for a bank in NYC.. I am talking about a six digit, starting with a three type of salary here..

six digit incomes are the norm these days.

[웃 910]

Degree in computers, engineering, anything medical, maybe law....Easy to find a job....Everyone else is SOL...

Edited February 23, 2010 by Lord Infamous

[alienlovechild 75]

Degree in computers, engineering, anything medical, maybe law....Easy to find a job....Everyone else is SOL...

Obama's America: the rich get richer and poor get poorer.