Some doubts to throw at the screaming headlines this morning….
Consumer prices remain high….
Interest rates remain High….
The Labor Dept. WIL reajust this figue next month as it always does and the emdia does NOT follow up report….
(Should I add weather related economic hits?)
This dog see’s that soon businesses ARE coming back….
Yes some people are getting raises….
President Biden IS doing his part by forgiving student loan debt….
But there are storm clouds on the horizon….
The auto and other labor strikes are running….
The fall/winter virus season is already here…
The Republican HouseWingNuts ARE working hard to shut the US Government down for ThanksGiving…
All in All?
A very mixed economic picture in reality from the So Positive Headlines that us Americans and Biden and Co. are praying for …..
The unemployment rate was 3.8 percent, unchanged from August, as joblessness ticked back near record lows.
September was the 33rd consecutive month of job growth. Hiring figures for July and August were revised upward, with employers adding 119,000 more jobs to the labor market than previously recorded. But wage gains were cooler than expected, with average hourly earnings rising 0.2 percent from the previous month and 4.2 percent from September 2022.
Federal Reserve policymakers have tried to rein in both wages and prices by pulling up interest rates. Some financial analysts believe that continued resilience in wage gains and job growth could hasten a downturn by prompting the Fed to raise borrowing costs further during its next meeting in early November.
The unemployment rate has been below 4 percent since December 2021, a stretch not achieved since the late 1960s.
“This is an economy on fire,” said Samuel Rines, an economist and the managing director of Corbu, a financial research firm.
While the trend of gains remains impressive, experts warn against concluding too much from one month’s data. September figures frequently feature quirks from seasonal adjustments, as teachers return to work and summer workers in leisure and hospitality leave their jobs….