Workers Are Better Off Now
WEEKLY ECONOMIC UPDATE
CHART OF THE WEEK
Workers Are Better Off Now
- Inflation-adjusted household income grew 1.8% in 2017 to $61,372, the highest level on record.
- Initial unemployment claims are the lowest since the late 1960s.
- Workers have more opportunities and confidence to move to better jobs as the “quit rate” hit the highest level since 2001.
- There are nearly seven million job openings, the most on record.
- Those employed part-time who would prefer a full-time job but cannot find one has fallen to the lowest level since before the 2008-09 recession.
- Poverty rates among blacks and Hispanics fell to lows unseen since at least 1972.
LAST WEEK
News & Commentary
U.S. Small Business Optimism Just Hit Its Highest Level in History (Bloomberg)
US consumer prices increase less than expected in August (CNBC)
Most Economists See Tariff Effects on U.S. Economy as Limited (Wall Street Journal)
Jobless Claims Remain at Half-Century Low (Wall Street Journal)
JEC Releases
The Truth About America’s Improving Economy
