A cyclist rides by a now hiring sign posted in front of a U-Haul rental center in San Rafael. America’s unemployment rate has been below 4% for 26 months, the longest streak since the 1960s.When it comes to economic news, we’ve had so much winning that we’ve gotten tired of winning, or at any rate blasé about it. Last week, we got another terrific employment report — job growth for 39 straight months — and it feels as if hardly anyone noticed.
But such commentary is an attempt to explain something that isn’t happening. Without question, there are Americans who are hurting financially — sadly, this is always true to some extent, especially given the weakness of America’s social safety net. But in general, Americans are relatively optimistic about their own finances.I wrote recently about a couple of Quinnipiac swing-state polls that asked registered voters about both the economy and their personal finances.
What explains this disconnect? Inflation surely contributes to bad feelings about the economy. New research by Harvard University’s Stefanie Stantcheva confirms an old insight: When both wages and prices are rising, people tend to believe that they earned their wage increases but that inflation took away their hard-won gains.
Source: Financial Digest (financialdigest.net)
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: KUTV2News - 🏆 281. / 63 Read more »
Source: washingtonpost - 🏆 95. / 72 Read more »
Source: ComicBook - 🏆 65. / 68 Read more »
Source: Collider - 🏆 1. / 98 Read more »
Source: FXStreetNews - 🏆 14. / 72 Read more »
Source: Collider - 🏆 1. / 98 Read more »