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Real disposable income fell 6% from the year prior during 2022, the largest drop since at least 1960, per data from the St. Louis Federal Reserve. But as inflation has moved down significantly in ...
Though the board’s index has declined the past two months, consumers continue to spend, helping to prop up the U.S. economy since the sharp rebound from the COVID-19 recession in the spring of 2020.
GDP growth in 2024 significantly outpaced other advanced economies, fueled by robust consumer spending. The third quarter of 2024 saw an annualized GDP growth of 3.1%, revised up from 2.8%.
An analysis conducted by Politico in May 2023 found that in the United States, wage growth for the bottom 10th percentile of the wage scale beat inflation by a strong 5.7% from 2020 through 2022. For the middle 50th percentile, real wages were down by 1%, while they were down 5% for the top 90th percentile. [161]
More tech layoffs, but a shift, too. 300,000 tech layoffs this year (60% up from 2022), but many of these jobs were shifted, not lost. To continue. The continuing hybridization of hybrid work.
A cautious Fed on track for one last 2024 cut followed by a 'slowing down' in 2025 ... but added that a prior prediction for four rate cuts next year has "got to be rethought." ... since it peaked ...
This is a list of countries by household final consumption expenditure per capita, that is, the market value of all goods and services, including durable products (such as cars, washing machines, and home computers), purchased by households during one year, divided by the country's average (or mid-year) population for the same year.
Year-over-year, producer prices also jumped 1.6% in February. That’s well below the 4.7% year-over-year rise in producer prices seen in February 2023, when inflation was still at 6%, but once ...