Posted on 12/01/2022 2:26:03 PM PST by entropy12
Summary
> Consumer spending increases 0.8% in October
> Personal income rises 0.7%; saving rate falls to 2.3%
> Core PCE price index gains 0.2%; up 5.0% year-on-year
> Weekly jobless claims fall 16,000 to 225,000
U.S. consumer spending increased solidly in October, while inflation moderated, giving the economy a powerful boost at the start of the fourth quarter as it faces rising headwinds from the Federal Reserve's aggressive monetary policy tightening.
The labor market, the economy's other pillar of support, continues to show resilience. The number of Americans filing new claims for unemployment benefits declined last week, almost unwinding the prior week's jump, which had lifted claims to a three-month high, other data showed on Thursday.
(Excerpt) Read more at reuters.com ...
Every restaurant and every grocery store has a Help Wanted sign on the door.
Fixed it.
something I have wondered. restaurants and grocery stores used to have workers. where did they go? they still have to pay their bills.
The stats are from US Govt. Are you anti-government person?
The one peaceful way to protest the massive election fraud is to stop spending money on consumer junk. People don’t get it.
That is exactly what I wonder as well. I recall when my teenage kids could not find a summer job for minimum wage. Aldi grocery store can’t find shelf stockers and register checkers for $16/hour to START. The store just converte 75% checkout registers to self checkout.
Since when the general public start worrying about election fraud? 75% of voters can’t name their House Rep. 50% can’t name the 2 senators from their state. Less than 0.1% of voters log into sites like FR.
But 1doz eggs cost 3.89 and a package of 6 chicken breast are 15.00 and a tiny package of ground meat is easily 8.00. I don’t even dare glanced over to the steak aisle can’t afford it and they say bidenflation is cooling? Hell, I like to know where? Yes, regular gas prices are going down but guess who’s ⛽️ or not and that’s the diesel trucks that bring in the merchandise to cities and towns. Don’t fall for their everything is hunky-dory, smoke screen. The cabal is doing all they can to pull the stops for the vegetable to look good for 2024. But you know after all the cheating and the gobs of people that voted for this administration, the Senate and countless seats all over the country for the rats Nothing surprises me anymore. Absolutely nothing! They have succeeded in desensitizes us against the criminal acts that are being committed right in front of our eyes …people just shrug it off and don’t care anymore.
Boycott Apple to begin with.
Everything you said is sadly true. Just look at the list of popular shows on TV.
I have a Motorola G Pure Android phone and it was much cheaper, and does everything I need a phone for.
Don’t fall for their everything is hunky-dory, smoke screen.
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Exactly. The last stats I would believe are those from the “government” We no longer have a government of the people. We have a corporation that uses the stockholders money to enrich the board of directors
I see few store clerks now at the checkout at Walmart, Ralphs (Kroger). Many more self checkout lanes are appearing.
Butter is $4.99 a pound, eggs are $4.99 a dozen.
Inflation is not going down.
Am I against the current government? bidAn, Harris, pelouzy, shumer, AOC, mcconnell, cheney, fib, cia, irs, fed, etc?
The answer would be a yes.
Do I trust numbers from the govt, like inflation?
The answer would be a no.
It’s all propaganda. Inflation is “cooling” relative to how “hot” it was a few months back. Spending is up 0.8% but that includes the cost increases of inflation (nominal spending, or dollar denominated spending) but real spending (dollar value adjusted for inflation (e.g. how much you get for that 0.8% increase)) is down.
headline: “Inflation cooling”
But, “Core PCE price index gains 0.2%; up 5.0% year-on-year”
So core inflation continues to go up, not down. Does not compute.
Gas in my town has dropped to $2.74 at one station, $2.95 at others.
This is the first time it has been under $3.00 in around a year.
Food is a mixed bag: some items are higher, some items are a bit lower, some have no change.
House sales: it is difficult to find anything listed under $200k that is livable. Many new subdivisions have prices $250k and up. More listings are having reduced prices from $1,000 to $50,000. It does seem houses are on the market longer. A year ago houses were getting contracts within days and some even before they were listed.
It will be interesting to see what the November numbers are in a week or two.
Cooling trend COMPARED to previous months.
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