Look at any number of recent economic indicators, and it's easy to understand why there have been whispers of a double-dip recession. If the economy isn't on the decline, there's good reason to think it's at least stalled.
Even judging only by the state of the labor force, things are tough. Wages remain stagnant, households are pessimistic and fewer people are in the workforce, all laid out in a paper by Mary Daly, vice president at the Federal Reserve Bank of San Francisco.
Before the recession, wages had been increasing modestly. Since the financial crisis, however, the rate of wage increases has slowed, now growing at a rate only barely higher than the rate of inflation, according to the paper. This, Daly argues, means real wages have been stagnant for most American workers.
And that, in turn, has played a role in decreasing household expectations with regards to wage increases, according to the paper. In 2007, roughly 65 percent of households expected increases. Today, only 45 percent have that same optimism.
The paper echos the pessimism brought forward by the government's mob recent jobs report. In June, the U.S. economy added only 18,000 total. This was far below forecasts by economists of a 100,000 job gain, according to The New York Times. The official unemployment rate also edged up to 9.2 percent.
All and all, there is a lot to be concerned about. Take a look.
Below are nine graphs accompanying Mary Daly's paper for the Federal Reserve Bank of San Francisco: