US economy reaches super star status

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Rideback
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Re: US economy reaches super star status

Post by Rideback »

More good news. Inflation flattens out. Gas prices dropping.
https://www.cnn.com/2024/06/12/economy/ ... dium=email
just-jim
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Re: US economy reaches super star status

Post by just-jim »

.
Very good article, Thanks!

These points dont get enough press in ‘daily’ deluge of news….

“Right now America’s economic-growth rate is the envy of the world. From the end of 2019 to the end of 2023, U.S. GDP grew by 8.2 percent—nearly twice as fast as Canada’s, three times as fast as the European Union’s, and more than eight times as fast as the United Kingdom’s.”

And,

“ The unemployment rate—defined as the percentage of workers who have recently looked for a job but don’t have one—has been at or below 4 percent for more than two years, the longest streak since the 1960s. Even that understates just how good the current labor market is. Unemployment didn’t fall below 4 percent at any point during the 1970s, ’80s, or ’90s. In 1984—the year Ronald Reagan declared “It’s morning again in America”—unemployment was above 7 percent; for most of the Clinton boom of the 1990s, it was above 5 percent.”

And,

“ ….from 2019 to 2022, the net worth of the median household increased by 37 percent, from about $141,000 to $192,000, adjusted for inflation. That’s the largest three-year increase on record since the Fed started issuing the report in 1989, and more than double the next-largest one on record.”
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