Drudge Retort: The Other Side of the News

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Sunday, November 03, 2024

WSJ: Whoever wins the White House next week will take office with no shortage of challenges, but at least one huge asset: an economy that is putting its peers to shame. With another solid performance in the third quarter, the U.S. has grown 2.7% over the past year. It is outrunning every other major developed economy, not to mention its own historical growth rate. read more


House Speaker Mike Johnson (R-La.) handed his Democratic foes another last-minute gift on Friday by suggesting Republicans would try to repeal the CHIPS and Science Act. read more


Donald Trump has been radically transparent in his pledge to use -- and abuse -- the power of the presidency to seek retribution against Americans he believes have wronged him. read more


Russia and China "have developed and demonstrated the ability to conduct war fighting in space." read more


Chinese tourists huddle together against the brisk autumn breeze on a 12-storey building, vying for the best spot to photograph the point where their country meets Russia and North Korea.


Comments

@#71 ...The labor market has been quite strong. ...

Actually, the U.S. labor market remains very strong
www.epi.org

... It is indisputable that the U.S. labor market is strong.

The share of the population ages 25"54 with a job is at a 23-year high, median household incomes rose 4.0% last year, and real wage growth over the last four years has been broad-based and strong. The economy has not only regained the nearly 22 million jobs lost in the pandemic recession, but also added another 6.5 million.

Are some folks still having a hard time? Absolutely.

Even when the unemployment rate is low, there are still sidelined workers, and it remains difficult for many families to make ends meet on wages that are still too low. Unfortunately, that's a long-term phenomenon stemming from a too-stingy U.S. welfare state, rising inequality, and the legacy of anemic wage growth during past economic recoveries. But when comparing the labor market with four years ago (during the pandemic recession) or even before the pandemic began, the answer is clear: More workers have jobs and wages are beating inflation by solid margins.

More people have jobs ...


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