By Jon S. Strebler
As so often happens, last week brought both good news and bad news. Consumer prices scored their largest drop in eight months; good for consumers, but a sign of a weak economy? Then there were the normal clarifications: well, core inflation (minus volatile food and energy prices) is gradually strengthening. At the same time, job growth was weaker the last couple of months. But wait a minute; layoffs and new unemployment claims are at the second lowest level in 42 years. So is the economy firming or slowing? The answer seems to be: Yes!
As readers may recall, the issue of income inequality in America is of special interest to me, not least because it is so poorly understood and shamelessly exploited by politicians. Segueing to this from the labor market reports, Lucia Mutikani, writing for Reuters, mentions that “job openings are at record highs,” despite the slowdown in ... Log in or subscribe to continue reading.