The media can no longer cover up the truth. The Obama Boom is now the Obama stagflation. The jobs being created are low wage retail or fast food jobs. Wages are going down and the cost of living has increased. For the 2nd straight month, retail sales were anemic. The only growth came from rising fuel costs.
High gas prices took a toll as US retailers posted their smallest gain in nine months in April and producer prices rose, but labor market trends improved as jobless claims dropped significantly last week.
Total retail sales increased 0.5 percent for a 10th straight month of gains, the Commerce Department said on Thursday. March sales were revised up to a 0.9 percent increase from a previously 0.4 percent rise.
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Excluding gasoline, retail sales were up 0.2 percent after rising 0.5 percent in March.
Read the rest here: High Gas Prices Crimp Retail Sales; Jobless Claims Drop
The great Obama Boom just chugs along!
Tags: News, Retail Sales, The Obama Boom
