By Sarah Kucinich, CNBCWWASHINGTON, D.C. (Reuters) – The U.S. economy is slowing, and that’s hurting consumers.
The economy has lost about half its growth in the first quarter of 2016.
That’s worse than economists expected, and economists say the economy will have to bounce back to the levels of the second quarter of 2015.
The recession is long over.
But there are some signs the recession is still affecting people, particularly the poor and those who have chronic diseases like heart disease and diabetes.
In the latest survey, the Institute for Supply Management (ISM) and the U.K. Office for National Statistics (ONS) both found the number of Americans working in the non-profit sector declined slightly in the second half of 2016 compared to the first.
But they said that wasn’t the main problem.
It was the lack of jobs, which ISM and ONS said were at least twice the size of jobs lost in the year before the recession hit.
The number of working-age Americans who are unemployed increased by 0.2 percentage points, according to the latest figures from the U:S.
It’s still a slight drop compared to last year’s figure of 3.4 million.
That’s partly because many people are looking for a job, said Michael Reich, director of the Institute of Economic Affairs at the University of Maryland.
But it’s also a sign that the economy has gotten worse, Reich said.
It would be nice to see some signs of recovery, but we’re not seeing that.
The decline in the number who are employed has been mostly a result of the recession, which caused a huge loss of jobs to the private sector, said Mark Zandi, chief economist at Moody’s Analytics.
That made people work less, which depressed consumer spending and helped to fuel the economic recovery, Zandi said.
There are signs the recovery is starting to kick in, however.
The U.s. economy expanded in the third quarter, adding more than 100,000 jobs.
But that was still down from the first two quarters of the year.
The jobless rate rose to 7.2 percent in the final quarter.
The unemployment rate fell to 7 percent in March from 10.2 in February.
“There is still a long way to go before people will start to feel the effects of the downturn,” Zandi wrote in a report last month.
The jobless rates for people ages 25-64 are at a 17-year low.
But they’re still much higher than in previous years.
Economists said that while there is still some slack in the economy, it’s far from the worst the recovery has been.
The unemployment rate for people under 30 dropped from 9.6 percent in January to 7% in March, while for people in their 30s it rose to 9.5 percent from 7.9 percent.
That should make it harder for some older workers to find work, said Paul Ashworth, chief investment officer at Evercore ISI.
“If you’re looking to be in your 40s, you want to work for a company that can help you out,” he said.