Small businesses in the wholesale trades had higher earnings than did firms other non-manufacturing industries. In construction, heavy construction contracting and construction of buildings performed best, while firms in the Midwest and Northeast had the highest earnings.
The stock market continues to set new records, but it would be foolish to judge the state of the economy by what is happening on Wall Street. Key indicators reveal the economy is very sluggish and suggest the stock market’s performance is out of sync with fundamentals.
The stock market continues to break new ground, but for the majority of Americans and in particular for small and minority business owner, this development has little meaning. Congress lifted the sequester regarding cut back on airport security, but it did nothing for low income Americans.
While the government and analysts are reveling in the latest positive economic indicators, for vast segments of the unemployed population, these developments will not matter at all. We need a strategy to solve unemployment targeted at Blacks, Latinos and manufacturing workers.