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As the U.S. proceeds to navigate the lasting ripple consequences of the COVID-19 pandemic, critical financial indicators are sending blended messages about wherever the financial state stands these days.
On the beneficial facet, GDP increased by 6.9% in the very last three months of 2021, and consumer expending began off potent in 2022. At the same time, calendar year-around-12 months inflation is at document stages in accordance to the Shopper Cost Index, and the U.S. Federal Reserve is increasing fascination charges to slow the overall economy. Several supply chain challenges from 2021 have prolonged into 2022, with new COVID outbreaks in China, the war in Ukraine, and high energy charges producing added challenges.
The labor marketplace offers a different established of unclear signals. The Bureau of Labor Data described in April 2022 that the unemployment rate had fallen to 3.6%, about where by it was in February 2020 right before the pandemic hit the U.S. The “Great Resignation” has file figures of staff leaving work to search for out positions that pay back additional or offer improved functioning conditions. But personnel have a lot more electrical power in the overall economy in large part for the reason that the labor drive participation amount stays below pre-pandemic levels, which indicates much less men and women are accessible for all the work opportunities that are presently open up.