Inflation Cooled Amid Affordability Worries
Here’s a breakdown of the key information from the provided text:
Economic Data (November):
* Job Growth: U.S.employers added 64,000 jobs. Hiring is slowing.
* Unemployment Rate: Rose to 4.6%.
* Inflation: Consumer prices were up 2.7% from a year ago (smaller increase than the 3% seen in September).Prices rose 0.2% between September and November.
* October Data: October inflation data was unavailable due to the government shutdown.
* Rental Data Impact: The lack of October rental data may have skewed the November inflation figure lower.
Public Opinion:
* Trump Approval (Economy): 36% of Americans approve of President Trump’s economic stewardship – his lowest rating in six years of polling.
* Affordability Concerns: 71% of Americans say their income matches or falls short of monthly expenses.
* Key Drivers of Concern: High prices are a major concern for Americans.
Specific Price Trends:
* rising Costs: Rent and electricity costs have increased.
* Falling Costs: Some food items (like eggs) have decreased in price.
* Wage Growth: Wages are still rising faster than prices, but the rate of wage growth is slowing.
