Posted on 01/20/2025 5:29:54 AM PST by where's_the_Outrage?
The U.S. labor market heated up in December, adding more jobs than expected and stoking optimism that higher interest rates and slower growth abroad won’t stop the steady march of economic growth and wage gains for American workers.
With low unemployment, rising incomes and inflation down to a third of its peak in 2022, it raises the question of just how good an economy President-elect Donald Trump stands to inherit when he enters office in less than two weeks.
“President Trump is inheriting an economy that is about as good as it ever gets,” Mark Zandi, chief economist at Moody’s Analytics, told the New York Times last week. “The U.S. economy is the envy of the rest of the world, as it is the only significant economy that is growing more quickly postpandemic than prepandemic.”
Friday’s economic data only furthered Zandi’s argument, as Trump will now inherit a lower unemployment rate than any president since Richard Nixon in 1969, according to Labor Department statistics.......
Nevertheless, these data may be painting a sunnier picture than the economic reality for most Americans warrants.
Trump is set to inherit the highest price for a gallon of gasoline on the day of a transitional inauguration in history, at $3.50 per gallon, according to the U.S. Energy Information Administration.
Mortgage rates are also very elevated relative to recent history, and the president-elect will enter office with the highest average rate for a 30-year mortgage since George W. Bush in 2001.
While mortgage rates were consistently higher in the years before George W. Bush’s first term than today’s average of 6.9%, housing affordability overall is at nearly record-low levels due to the combination of high rates and high valuations.
(Excerpt) Read more at marketwatch.com ...
However, we can expect a large jump in unemployment as Trumps fires the swamp.
He’s still alive?
Matthews is a pathetic moron.
My grocery and gas bills say otherwise.
Chris Matthews....*ROFLMAO*
He’s about as intelligent as a post hole....
Is his leg still tingling?
Yes, and clearly the American people just loved the crap out of Theo economy. Can someone please put the spitter back on his box.
This is one of the worst economies I’ve seen in my life. Other than off-world mining and drilling for oil everywhere on earth I don’t see how Trump can magical our way out of this. Crypto meme coins ain’t gonna do it. The Titanic is going down quick. Somebody blow up a balloon.
Debt is way up. Chris is no economist. Chris is a propagandist.
The guy needs a sex toy.
Are these people stoned out of their minds?
Yes the economy is great , it’s why Kamala is getting sworn in today
not seeing it. I must not be smart enough, or so I’m told.
Wow.
Delusional. Idiotic. Ideologic.
Or any combination of those, but likely...all of them at once.
Moody’s is Deep State.
Not that we really needed the reminder, Mr. Zandi.
Who writes this trash. Nobody thinks the economy doesn’t suck.
Especially broke young people who can’t buy houses or cars. Or old people who can’t buy eggs or meds.
Market Watch has gone full-blown clownass.
She didn’t send a thrill up Chrissy’s leg.
It’s a great economy if your business is fencing stolen goods in California or if your business rests on unskilled labor for which you can pay subminimum wages off the books.
The economy may be heating up but I suspect that is similar to those politically incorrect cars the Obama Administration forced to be destroyed and it will seize shortly.
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