agip wrote:
Biden-omics continues to kick butt. Some of the best labor numbers in 50+ years.
New jobless claims fell sharply last week to their lowest level during the pandemic, performing better than economists expected as a strong labor market recovery encourages Federal Reserve officials to more aggressively raise interest rates.
Meanwhile, the number of continued claims during the week ending March 12 dropped below 1.4 million, hitting the lowest level since January 1970, the Department of Labor said.
I should point out that actually, these are the best numbers in the history of the republic when adjusted for our larger population.
And of course that explains much of our inflation - when everyone who wants a job has a job...lotsa dollars chasing goods, raising prices. Production will catch up eventually, and that will reduce inflation.
certainly these much higher mortgage rates will start depressing home prices, which will bring down the inflation rate.