In Memphis and around U.S., economic averages miss big picture

In Memphis and around U.S., economic averages miss big picture

Karen Pulfer Focht/Associated Press

A pedestrian passes an empty storefront in Memphis, Tenn. Statistics describe an America that is nearly recovered from the Great Recession, but the national averages don’t give a complete or accurate picture. wealth is flowing disproportionately to the rich, skewing the data used to measure economic health.
An empty business sign is all too common on Elvis Presley Boulevard in Memphis, Tenn. In Memphis, hiring resumed after the recession and the unemployment rate has declined to match the national figure of 5 percent. Yet those figures obscure as much as they reveal: Many of the new jobs, in Memphis and elsewhere, are in lower-paying industries and are more likely to be part time or temporary.

In Memphis and around U.S., economic averages miss big picture

Karen Pulfer Focht/Associated Press

A pedestrian passes an empty storefront in Memphis, Tenn. Statistics describe an America that is nearly recovered from the Great Recession, but the national averages don’t give a complete or accurate picture. wealth is flowing disproportionately to the rich, skewing the data used to measure economic health.
An empty business sign is all too common on Elvis Presley Boulevard in Memphis, Tenn. In Memphis, hiring resumed after the recession and the unemployment rate has declined to match the national figure of 5 percent. Yet those figures obscure as much as they reveal: Many of the new jobs, in Memphis and elsewhere, are in lower-paying industries and are more likely to be part time or temporary.
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