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Old 08-13-2011, 11:43 AM   #1
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by Matthew Rusling
WASHINGTON, Jan. 4 -- There is good news and bad news for the U.S. economy this year.
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"What we will have in 2011 is a continuation of this very rocky, slow recovery," she said. "We will be adding jobs but not enough to put the 15 million unemployed workers we have back to work."
That means families will continue to suffer. Workers who have avoided layoffs are seeing continued cuts in hours, which can make a significant difference for those living paycheck to paycheck. Even a cut from, say, 42 to 36 hours per week could mean the difference between being able to pay the rent or not, she said.
WIDENING GAP BETWEEN TWO ECONOMIES
Writing as a guest blogger for the Christian Science Monitor, Robert Reich from the University of California at Berkeley said that this year "the two American economies -- the Big Money economy and the Average Working Family economy -- will continue to diverge."
"Corporate profits will continue to rise, as will the stock market. But typical wages will go nowhere, joblessness will remain high, the ranks of the long-term unemployed will continue to rise, the housing recovery will remain stalled, and consumer confidence will sag," said the former labor secretary.
He expects the jobless rate to remain at around 9 p
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