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US economic resilience in wake of pandemic, inflation battle 'fantastic achievement' (weartv.com)

submitted 3 weeks ago by psychothumbs to c/news

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[–] psychothumbs 3 points 3 weeks ago

Yes, but they don’t even mention the yearly target in the article, just broadly allude to inflation not being an issue anymore, even though it has actively driven prices up significantly for pretty much everything for the last few years. It is absolutely a pain point that is often glossed over when talking about the economy, usually when commenting how good it is.

I'm not sure what to make of this complaint. Yes the article assumes some basic level of understanding of what these terms mean. We had a bout of inflation, meaning prices rose quickly, and then it ended and prices are back to their usual flat or slow increase rate of change.

As for the job market, I’m in tech. It’s insanely hard to get a job right now, as most places simply aren’t hiring (or worse, put up job ads but have no plan to fill them, as insane as that is). Wages have stagnated for sure, and housing has gone up in price. I haven’t actually seen many high wage growth for a lot of stuff around me either, mostly just adjusting lower end wages so that people can (mostly) afford rent. 2% inflation is better than the last couple of years, but the article linked completely downplayed all of those factors. Which is why I said it was bullshit.

Ah well there's your issue right there - tech in particular is not doing so hot right now, but most other parts of the economy are doing great. Got to look at the data on the big picture and not just what you see in your own little niche.