A Tale of Two Rebounds

Why the economic recovery is leaving many families behind

The Economic recovery is in its fifth year, a span that underlines just how choppy it's been. The S&P 500 has reached record highs, while the housing and auto industries are stronger than they've been in years. Still, employment growth in May, as measured by payroll service ADP, was a disappointing 135,000 jobs, and a recent gauge of manufacturing shows that the sector also contracted last month.

According to new research from the Federal Reserve Bank of St. Louis, one reason for the schizophrenic feel is that different socioeconomic groups are experiencing vastly different recoveries. With federal stimulus money long gone...

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