The Economy's 'New Normal'Some economists from PIMCO — a brain trust and bond fund — fear slow growth may be the "new normal." If true, that means Americans will have to adjust to a period of high unemployment, negligible wage growth and slumping living standards. There is hope: a new wave of technological innovation.
President Obama tours the Automotive Training Program at the Northern Virginia Community College, Alexandria campus, in June, Va. Slower economic growth means fewer opportunities for U.S. companies, which in turn leads to less hiring.
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President Obama tours Cree, Inc., a manufacturer of energy efficient LED lighting, in North Carolina on June 13. Economists believe the innovation of new technology would create jobs and boost the economy.
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