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Last Economic Snapshot Before the Election Shows Healthy Job Growth
Last Economic Snapshot Before the Election Shows Healthy Job Growth
The last time the unemployment rate was running this low was in early 2008. But by Election Day that year, the economy was in sad shape and getting worse by every measure. Hundreds of thousands of jobs were vanishing, housing prices were plunging, paychecks were shrinking and credit was tight.
On Friday, in the last economic snapshot before voters go to the polls, the government reported that the jobless rate fell to 4.9 percent in October, matching the level in February 2008. Today, though, most economic bellwethers are showing improvement. Particularly encouraging was the fact that hourly wages rose 2.8 percent compared with a year ago, the best gain in more than seven years.
The economy’s escalator may be slower and narrower than Americans expect, but it is now going up instead of down.
We live in a time in which decent and otherwise sensible people are surrendering too easily to the hectoring of morons or extremists.
- tennyson
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Re: Last Economic Snapshot Before the Election Shows Healthy Job Growth
It has been on an upswing since the horrible collapse in 2008.
We (and much of the world) are still trying to rebound from the 2008 world economic collapse. China has maintained a steady growth even after 2008 but when one digs deeper into their finances their total debt is over 200% of their GDP which is really bad (we are a little over 100%). There still are a lot of forces working against a world wide recovery and like it or not we are and have been for many years been part of a world economy.
"Do not confuse motion and progress, A rocking horse keeps moving but does not make any progress"
- Goose
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Re: Last Economic Snapshot Before the Election Shows Healthy Job Growth
tennyson wrote:
It has been on an upswing since the horrible collapse in 2008.
We (and much of the world) are still trying to rebound from the 2008 world economic collapse. China has maintained a steady growth even after 2008 but when one digs deeper into their finances their total debt is over 200% of their GDP which is really bad (we are a little over 100%). There still are a lot of forces working against a world wide recovery and like it or not we are and have been for many years been part of a world economy.
Wait, can't we put up a wall or something? 
We live in a time in which decent and otherwise sensible people are surrendering too easily to the hectoring of morons or extremists.
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