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?
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47 sats \ 0 replies \ @Undisciplined 14 Aug
I've heard that ag profits are expected to be down this year, despite really high yields. That might imply reduced consumer demand.
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47 sats \ 0 replies \ @DEADBEEF 14 Aug
At this point things are more of a sieve than a cracked pipe.
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47 sats \ 0 replies \ @Satosora 14 Aug
Much more cracks.
And all the water is leaking through.
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0 sats \ 0 replies \ @16d86e9daa 15 Aug
Economic factors such as economic slowdowns, geopolitical tensions, or supply chain disruptions can impact incomes and living costs
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0 sats \ 0 replies \ @Msd0457890 14 Aug
It is sometimes impossible to believe that one of the largest economies in the world is heading towards recession and rising unemployment.
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