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Aaron Sojourner@aaronsojourner.org |
Contrary to popular impression, fiscal policy at all gov't levels is creating a DRAG on economic growth by -0.71 pp in annualized terms in 2024Q2, per Brookings.
The U.S. labor market remains strong despite braking by fiscal and monetary policy.
www.brookings.edu/articles/hut...
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Aaron Sojourner
@aaronsojourner.org
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Turning from job growth to unemployment, the unemployment rate ticked up 0.1 percentage point (pp) to 4.1%, and the number of unemployed persons, at 6.8 million, changed little in June but each rose slightly.
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