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Friday, June 24, 2016

OECD Study: Benefits of the US economic recovery is not evenly distributed


Buyers in the pictures USImage copyrightGETTY
The OECD report said that while the US has recovered from the global recession, the United States, income inequality continues to increase.

US economic production jumped by 10% in the last pre-crisis peak in 2008, ahead of other major economies such as the euro area.

However, OECD Secretary General Angel Gurria said that the benefits of economic recovery should not be evenly divided.

Women and minorities "is faring less well," he said.

Mr. Gurria said that US politicians need to put aside their differences and raising the minimum wage, which he called "a good recipe in a number of other countries."

"This does not necessarily have to take so much time and so much political acrimony," he said.

The US government should expand the Earned Income Tax Credit, and help people back to work through a skills program, he added.

The OECD said the investment growth will strengthen productivity growth.

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