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 ...
Inflation will come roaring back. The policies of offshoring, outsourcing and trade arbitrage held off rising costs to products. Domestic production will increase costs to products. Americans should prepare for higher interest rates and future price concerns going forward.
But, be prepared for anything. The latest news I've seen says Trump will wait on Tariffs. The means a short pump in the markets to again help equities again, while the promised reshoring is held back, again.
I like your optimism. I’m looking forward to some change.
“The labor market heated up in December.” Biden or in anticipation of President Trump’s actions, like so many other phenomena that occurred after November 5, such as a stock market surge of 1,000 points, corporations ditching DEI, mass resignations of rats in the bureaucracy, gas prices mysteriously decreasing, tech monsters like Cook, Zuck, Bezos kneeling to kiss his ring, self-deporations of masses, and so on and so on?
Chris is a one-trick pony.
Respectfully, if you click on his name, in the article, it is a different fellow, same name.
Not really. I understand, according to the MSM, a number of jobs are opening up in landscaping.
WORST economy ever, with over $35 billion debt.
$36 trillion in debt with another $2 trillion every year. The economy is more juiced by deficit spending that the East German “women’s” swim team and it is still just barely limping along.
The people who tell us Biden’s economy is great are the same people who say we need to do more welfare.
NO-— BIDEN HAS BEEN STEADILY DOWNGRADING THE USA
Yeah, great economy.
I see gasoline prices fluctuating. Motor oil prices(also a petroleum product) staying about as high as ever & most other prices are also inflated, it seems.
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