The folks that think Trump was the greatest president ever. You aren't one of those folks, but group projection is a very cool thing.
https://www.reuters.com/world/us/slower-us-job-wage-gains-expected-may-2023-06-02/ U.S. employment increased more than expected in May, but a moderation in wages could allow the Federal Reserve to skip an interest rate hike this month for the first time since embarking on its aggressive policy tightening campaign more than a year ago.
Has it really been two years now? The enduring gap between the expectation of a recession and the economy's refusal to decline suggests a significant disconnect between what experts and the media perceive and the actual unfolding of events. Often, perception alone can influence the economy, but this time, it appears that either perception differs greatly from the experts and media's views, or it is accurate, but somehow, it no longer exerts as strong an influence on the economy. September jobs report details: 336K jobs added, unemployment at 3.8% (usatoday.com) U.S. employers stepped up hiring sharply in September, adding a booming 336,000 jobs despite high interest rates and inflation. That's the strongest monthly gain since January. The unemployment rate held steady at 3.8%, the Labor Department said Friday. Economists had estimated that 170,000 jobs were added last month, according to a Bloomberg survey. Job gains for July and August were revised up by a combined 119,000, pushing the advances for each month over 200,000 and painting a more robust picture of summer hiring than previously thought. "The U.S. labor market clearly still has some gas in the tank," says Nick Bunker, head of economic research for Indeed, a top job site. How fast are wages growing? Average hourly earnings rose 7 cents to $33.88, nudging down the yearly increase to 4.2% from 4.3%. That should be positive news for the Fed but it’s still too high as officials seek to lower annual pay increases to 3.5% to align with theirs 2% overall inflation target. Wage growth topped 5% last year amid severe COVID-related labor shortages.
Media wonders why ppl think the economy is bad when all they do is **** on the economy 24/7 They're desperate for trump
this suggests the the Fed may not hike the rate any more this year. https://www.reuters.com/markets/us/rise-bond-yields-builds-case-fed-hold-daly-says-2023-10-05/ The recent rise in Treasury yields shows that the Federal Reserve has so far raised interest rates high enough in its fight against inflation; the bond market that has risen ~36 basis points since September, diminishimg the need for the Federal Reserve to again raise its benchmark interest rates the avg work hours per week did not change, suggesting that employers have not curtail / stop hiring, attributable to the miniscule increase in avg hourly earnings, yet another data that says the economic pie continues to grow.
There just seems to be something missing. Polls, experts, and the media don't seem to be capturing it. Perhaps the rebound from COVID is really hard to predict and perceive. Perhaps the economy has structurally changed. Perhaps there are multiple sectors doing opposite things at the same time, but overall, they are keeping the economy going. Perhaps Biden's strategy of growing from the middle out is really making an impact on the economy's resiliency. Perhaps it's some combination of all the above. @Major - haven't seen you post in a while. I'd love to hear your thoughts on this.
