President Biden went before the media to talk about the increase hiring……..
Consumer prices are still high…..
Gas prices are still high…..
Interest rates are higher that a few years ago…..
And most of us do NOT feel the the economy is ‘Better’…..
Some of us feel a Recession is ALREADY here……
Married to Inflation at the same time…
U.S. job growth accelerated in April while wage gains increased solidly, pointing to persistent labor market strength that could compel the Federal Reserve to keep interest rates higher for longer as it fights to bring inflation under control.
The Labor Department’s closely watched employment report on Friday also showed the unemployment rate falling back to a 53-year low of 3.4%. Though data for February and March were revised sharply lower, the labor market is slowing only marginally. It suggested there was no impact yet on the economy from tighter credit conditions, which together with the Fed’s punitive rate hikes have raised the risk of a recession.
The larger-than-expected increase in payrolls could be hinting at some spring revival in the economy after activity slowed in February and March.
Data this week showed manufacturing pulling off a three-year low and growth in the services sector picking up a bit. Motor vehicle sales also accelerated last month.
President Joe Biden seized on the employment report to urge Congress to raise the federal government’s borrowing cap amid projections it may run out of money in June, a development that could cause great harm to the economy.
“The last thing this country needs, after all we have been through, is a manufactured crisis,” Biden said ahead of a meeting on U.S. investment. “It’s a manufactured crisis driven by MAGA Republicans in Congress.” MAGA is the acronym for the “Make America Great Again” slogan of former President Donald Trump…
Leave a Reply
You must be logged in to post a comment.