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Personal Income Increased by 0.3% over in the month in February


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1 hour ago, impartialobserver said:

Personal income is up, real average hourly earnings are up, jobs are up, and unemployment is fairly low (3.9% as of feb. 2024). All in all.. this points to an economy that is doing ok. Is Biden responsible for this? Not really. Furthermore, the true jobs number, QCEW, shows an increase. CES, the monthly jobs number, is an estimate and is revised each month. Why? Because there is new data in the form of unemployment insurance claims and such. If this continues.. it may help Biden win in NV and MI. 

 

https://www.bls.gov/news.release/empsit.nr0.htm

https://www.bls.gov/opub/ted/2024/real-average-hourly-earnings-increased-0-6-percent-from-march-2023-to-march-2024.htm

https://www.bea.gov/news/2024/personal-income-and-outlays-february-2024

 

The BLS March Real Wages Report shows a 0.2% decrease in real wages.

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2 hours ago, eyeball said:

There's a new theory in town.

What If Fed Rate Hikes Are Actually Sparking US Economic Boom?

A radical theory is spreading as economy defies expectations
‘The reality is people have more money,’ one convert says

https://www.bloomberg.com/news/articles/2024-04-16/booming-us-economy-inspires-radical-theory-on-wall-street

Savers who invest in interest bearing account def have more money. I was shocked by how much more income I had from CDs and Money Market accounts last year.

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6 minutes ago, robosmith said:

Savers who invest in interest bearing account def have more money. I was shocked by how much more income I had from CDs and Money Market accounts last year.

How would you feel about paying less income taxes and more on consumption taxes instead?

If consumption taxes could be kept lower than the income tax reduction more people might be inclined to save more.

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5 hours ago, impartialobserver said:

And that is the one and only metric in an economy.. interesting. 

Yep. More domestic oil production than ever before.

Net energy exporter.

Record profits for the petroleum industry.

The only reasonable conclusion is that Joe Biden is driving up the price of gas! 🙄

 

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