The U.S. economy witnessed a 0.2% drop in real incomes in July, following a 0.4% increase in June, as reported by the Department of Labor. Adjusted for inflation, the average weekly income decreased to $382.54 from $383.38 in the previous month. This trend raises questions about the underlying strength of the economy. Are we beginning to see more cracks in the economic foundation after the first non-linear rise of unemployment last week?
pull down to refresh
I've heard that ag profits are expected to be down this year, despite really high yields. That might imply reduced consumer demand.
At this point things are more of a sieve than a cracked pipe.
Much more cracks.
And all the water is leaking through.
Economic factors such as economic slowdowns, geopolitical tensions, or supply chain disruptions can impact incomes and living costs
It is sometimes impossible to believe that one of the largest economies in the world is heading towards recession and rising unemployment.