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Why you can feel good about your job prospects for a while longer
https://www.cnn.com/2024/02/26/investing/premarket-stocks-trading/index.html
New York
CNN
—
The US economy isn’t out of the woods yet, but it’s doing a lot better than many forecasters thought it would just a few months ago.
At least better than economists at S&P Global Ratings thought it would.
They now expect US real gross domestic product to grow by 2.4% in 2024, up from their forecast of 1.5% in November. Real GDP is the value of all goods and services a country produces, after adjusting for inflation.
Before the Bell spoke with Satyam Panday, chief economist at S&P Global Ratings, to discuss the state of the economy and how GDP impacts your wallet and 401(k).
Satyam Panday: It’s been almost three months since our last prediction, and this is a significant revision. Since November we’ve had data come out that shows much stronger growth in the jobs market, so we made some changes. But the overall message still remains the same, we will be slowing down to below trend growth for some time, it’s just that the timing is pushed back because of the strength of US households.
New York
CNN
—
The US economy isn’t out of the woods yet, but it’s doing a lot better than many forecasters thought it would just a few months ago.
At least better than economists at S&P Global Ratings thought it would.
They now expect US real gross domestic product to grow by 2.4% in 2024, up from their forecast of 1.5% in November. Real GDP is the value of all goods and services a country produces, after adjusting for inflation.
Before the Bell spoke with Satyam Panday, chief economist at S&P Global Ratings, to discuss the state of the economy and how GDP impacts your wallet and 401(k).
Satyam Panday: It’s been almost three months since our last prediction, and this is a significant revision. Since November we’ve had data come out that shows much stronger growth in the jobs market, so we made some changes. But the overall message still remains the same, we will be slowing down to below trend growth for some time, it’s just that the timing is pushed back because of the strength of US households.
"Nobody wants to work anymore" beats "they're stealing our jobs" any day. I see it first hand during every American recession: post 9/11, The Great Recession, and COVID. Spring 2021 was the last time an interviewer decided I wasn't "American" enough for a job despite having Kamala as US VP. It's my most reliable economic indicator. No matter what the GOP bloviates about, Biden's economy should be strong enough to defeat Trump this year.
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