The economy, Big Red Car?
Big Red Car here on a warmish Wednesday in the Great State of Texas. Ahh, on Earth as it is in Texas!
So, the Big Red Car is taking a look at the economy — IT’S THE ECONOMY, STUPID — and likes what he sees.
The Economy BIG indicators
Here are the big indicators:
GDP growth at 4.1% in Q2-2018.
Unemployment 4.0% – 3.5% on a seasonably adjusted rate
Black unemployment 6.5% seasonably adjusted (5.9% in May 2018, an all time low)
Hispanic unemployment 4.6% seasonably adjusted, an all time low
BLS wage index 2.8% – a measure of the growth of private wages, a very robust increase
Household income 5% increase, year-over-year
July jobs report, 219,000 new jobs versus an estimate of 185,000
All of this is being accomplished with core inflation at or below the 2% target. Hello, America!
Bottom line it, Big Red Car
The economy is critical to America’s financial health.
The economy is expanding at a strong rate.
Jobs continue to be created at a robust rate.
We are seeing average household incomes increase.
We are finally seeing wage rates and income increasing.
Black and Hispanic workers are participating in the continued good news as evidenced by unemployment rates.