"From the beginning of the pandemic through the fall of 2023, the last period for which we have good comparative data, real #wages in both #Europe and #Japan fell. In #Germany, workers lost 7 percent of their purchasing power; in #Italy, 9 percent. By these metrics, the only workers in the entire developed world who are meaningfully better off than they were four years ago are #American ones."

https://www.theatlantic.com/ideas/archive/2024/06/us-economy-excellent/678630/

#Economics #Economy #Biden #Bidenomics #US #USA #UnitedStates #News

Surprising #US #economy is powering better global outlook, #WorldBank says

The global economy is in better shape than it was at the start of the year, thanks largely to the performance of the #UnitedStates, the World Bank said in its latest forecast Tues. But the sunnier outlook could cloud over if major central banks — including the #FederalReserve — keep #InterestRates at elevated levels.

#bidenomics #BidenHarris2024
https://www.washingtonpost.com/business/2024/06/11/world-bank-us-economy/

Via @stevebenen:

U.S. job growth by year:
2017: 2.1 million
2018: 2.3 million
2019: 1.98 million
2020: -9.3 million
2021: 7.2 million
2022: 4.5 million
2023: 3 million
Five months into 2024: 1.2 million (on pace for 2.9 million)

#Bidenomics
https://www.msnbc.com/rachel-maddow-show/maddowblog/robust-job-growth-may-exceeds-expectations-rcna156001

Robust job growth in May once again exceeds expectations

By nearly every metric, the latest jobs report points to a very strong U.S. job market. The political implications have the potential to be dramatic.

^{Steve Benen (MSNBC)}