Cloud behind US economy's silver lining

Housing-market and consumer-spending data show gradual improvement but many Americans still worried about job security.

    US Labour Department's December figures have revealed that consumer spending is up and confidence in the US economy is higher than at any other time in the last six years.

    The housing market has seen enough of a boost in home mortgages that the US Federal Reserve is cutting back on buying bonds to boost the economy.

    But many Americans still express concern about long-term job security.

    Long-term unemployment is very high in the US and inequality in society is greater than at any time since before the Great Depression, according to economists.

    Al Jazeera's John Hendren reports from Chicago.

    SOURCE: Al Jazeera


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