Let's just read the pope's words and draw our own conclusions:
When you pick up a volume of the social teaching of the Church you are amazed at what it condemns. For example, it condemns economic liberalism. Everyone thinks that the Church is against Communism, but it is as opposed to that system as it is to the savage economic liberalism which exists today. That is not Christian either and we cannot accept it. We have to search for equality of opportunities and rights, to fight for social benefits, a dignified retirement, holidays, rest, freedom for trade unions. All of these issues create social justice. There should be no have-nots and I want to emphasise that the worst wretchedness is not to be able to earn your bread, not to have the dignity of work.link
(1) the Pope's remarks do not reject marxism; I'm not saying he is, just that his remarks have to be read carefully, like Obama's, and when you do so, he leaves the conclusion viz. marxism as what "everyone thinks", which is not the same as confirmation.
(2) the Pope is great on the general principles, but is a little mis/un-informed when it comes to the details:
(a) Trade unions - certainly in the mold of unions in the US today - do not create social justice, they create social injustice; they are parasites that use the power of the government to extract wealth from others that they cannot otherwise earn on their own merits; that is, they're thieves.
(b) What "savage economic liberalism" is he referring to? The so-called economic liberalism that exists in many countries - which is most likely what he's railing against - is certainly not capitalism or free market economics because, at a minimum, those countries typically lack any really robust system for protecting the private rights, especially property rights, of all individuals equally and their economies are generally rife with crony capitalism - which isn't capitalism at all - in which certain private interests have developed an incestuous relationship with those in power to their mutual benefit and at the heavy expense of everyone else. If the Pope really is interested in social justice - and I believe he is - then he should be a supporter of real economic liberalism because you cannot achieve any real measure of social justice until everyone is free to participate voluntarily in free markets.
(c) when he speaks of "equality of opportunities" is he really speaking solely of opportunities - so-called negative freedom, or the freedom to do - or is he really thinking of equality of outcome - frequently those who speak blithely of the equality of opportunities really mean the equality of outcomes because they implicitly, and unconsciously, believe that outcomes automatically become equal when opportunities are equal. That believe is demonstrably untrue and one hopes the Pope hasn't fallen into that fallacy.
(d) if the ultimate wretchedness is to not be able to have a job and to be unable to support one's self, then he hasn't spent sufficient time observing the American welfare system. The system incentivizes not working and strips unemployment of most of its wretchedness. Furthermore, the Pope doesn't seem cognizant of the issues of free ridership and the tragedy of the commons. It is one thing to say that we should support the unfortunate, it is another thing entirely to ignore the fact that human beings - being fallen creatures - will manipulate and take advantage of most such support programs, perverting them into what they were not intended to be. The Pope appears to be ignoring the Church's own teachings on the sinfulness of humanity.