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Obama adviser Summers says US in 'human recession'

Obama adviser Summers says US in 'human recession'

President Barack Obama's top economic adviser says the U.S. is experiencing an economic recovery on paper but a "human recession" because of job losses.
Lawrence Summers, director of the White House National Economic Council, told a panel at the World Economic Forum in Davos on Saturday that the latest figures showing strong U.S. economic growth suggest Obama's policies to prevent economic collapse are working.
But the level of unemployment in the U.S. is disturbing, with one in five men between the ages of 25-54 not working. Summers says the U.S. and other economies are seeing "a statistical recovery and a human recession."


Updated : 2021-04-13 19:42 GMT+08:00