Category: TRENDS ON THE U.S. ECONOMIC FRONT – Oct 11 2022

Six in ten Americans live from one paycheck to the next, slightly more than the 55 percent who reported a hand-to-mouth existence 12 months earlier, according to a new survey by LendingClub, an online loan company.

U.S. households built up a cash cushion of about $2.1 trillion during the COVID War, when the national savings rate soared as high as 30 percent of income as many Americans stashed their federal stimulus payments into their savings accounts.

In August, the number of open jobs fell to just under 10.1 million, about 1.1 million fewer than in July but still leaving 1.7 jobs available per unemployed worker, CNBC noted.

The U.S. economy sprouted 263,000 new jobs in September, the U.S. labor department reported.

After each of the last 40 midterm elections, the Standard & Poor’s 500 has gained an average of 15 percent in the following 12 months on a sense of clarity about short-term tax, fiscal, and economic policy, The Wall Street Journal reported.

Around the world, central banks are raising interest rates at the fastest clip in at least 40 years, stressing some markets to the point of cracking, according to The Wall Street Journal. Corporate bonded debt is showing signs of distress, the WSJ noted, and which we reported in “OECD Warns About Corporate Debt” (25 Feb......

The U.S. economy’s addition of 263,000 jobs in September shows the labor market is strong enough to withstand another three-quarter-point interest rate increase when the U.S. Federal Reserve meets in early November, The Wall Street Journal said.