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At a time when Americans joke about how bad they are at math, and already abysmal scores on standardized math tests are falling even further, employers and others say the nation needs people who are good at math in the same way motion picture mortals need superheroes. ![]()
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They say America’s poor math performance isn’t funny anymore. It’s a threat to the nation’s global economic competitiveness and national security. buff.ly/459npnl
Americans outside the wealthiest 20% of the country have run out of extra savings and now have less cash on hand than they did when the pandemic began, according to the latest Federal Reserve study of household finances.![]()
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For the bottom 80% of households by income, bank deposits and other liquid assets were lower in June this year than they were in March 2020, after adjustment for inflation. buff.ly/3PA14JR
Third-Quarter GDP Growth Estimate Unchanged. On September 19, the GDPNow model estimate for real GDP growth in the third quarter of 2023 is 4.9 percent, unchanged from September 14 after rounding. buff.ly/3AuIjQb
Work experts have warned for years that the combination of baby-boomer retirements, low birthrates, the lack of coherent immigration policies and changing worker preferences is leaving U.S. employers with too few workers to fill job openings. None of those factors are expected to change dramatically in the coming years.
The U.S. economy’s prospects of a soft landing are getting a boost from an unexpected source: a historic rise in immigration. The inflow of foreign-born workers, which had slowed to a trickle in the years up to and including the pandemic, is now rising briskly as the U.S. catches up on a backlog of visa applications and the Biden administration accelerates work permits. That is helping ease labor shortages and wage and price pressure.
We often will share charts with sales to inventory ratios rather than volume for retail sales. It helps explain the relationship better than simply sales are up or inventory is up. When you shop you like options and this chart shows the depth of choice for autos.
Thoughts on the Latest Economic News