Thanks to the Fed, You’ll Work More this Year to Keep Last Year’s Standard of Living

Thanks to the Fed, You’ll Work More this Year to Keep Last Year’s Standard of Living

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According to the establishment survey of employment, released last week by the Bureau of Labor Statistics, total employment increased, month-over-month by 263,000 jobs. The “job market stays strong” reads one CNBC headline, and the new jobs print was hailed as a great achievement of the Biden Administration by MSNBC pundit Steve Benen.  Yet, the employment data is possibly the only data that looks good right now, and that’s not much comfort since employment is a lagging indicator of the economy’s direction. In fact, if we look beyond the employment survey, what we find is an economy where real earnings are...
Source: https://www.newswars.com/thanks-to-the-fed-youll-work-more-this-year-to-keep-last-years-standard-of-living/