Summary
The U.S. added 256,000 jobs in December, lowering the unemployment rate to 4.1%, outperforming expectations and reflecting a resilient labor market as President Biden leaves office.
Despite earlier inflation overshadowing a strong labor recovery post-COVID, hiring remains steady, layoffs subdued, and job openings rising.
Forecasters predict gradual hiring growth in 2025, with small-business optimism and easing Federal Reserve policies driving gains.
Economic indicators, like increased consumer borrowing for auto purchases, suggest mixed but improving confidence.
Sturdy doesn’t mean it’s stable or affordable. Second record high of homelessness, higher than last years record high by 18%, 33% increase since 2020. Credit default through the roof, auto repossession through the roof, 53% of renters can’t afford rent. He’s handing trump a shitty economy which will likely continue to get worse.
Yeah I mean it’s not like inflation was managed well or anything. It’s worse than it was when he (Biden), got in. No, wait… my mistake
Inflation is you higher now than when Biden was elected, just not for the few factors the government considers inflation for. Housing is more expensive than ever before in US history, and has increased in cost more in the last four years than the proceeding 50.
Biden will go down as one of the worst presidents in world history.
The problem with housing costs has less to do with inflation than it does with collusion:
https://www.propublica.org/article/yieldstar-rent-increase-realpage-rent
But the fact that housing costs are outpacing inflation is kind of the big clue there. Same with food costs:
https://www.nerdwallet.com/article/finance/price-of-food
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