The U.S. Economy Is Absolutely Fantastic - The Atlantic

The Nugget

The U.S. economy is performing exceptionally well, with high growth rates, historic lows in unemployment, surging household wealth, and rising wages, especially for the working class.

Make it stick

The U.S. economy has shown remarkable performance compared to other countries, with high growth rates, low unemployment, and rising household wealth.
While the public perception may not reflect this, objective data shows a significant improvement in living standards.

Wage growth in the U.S. has outpaced inflation, leading to an increase in purchasing power for workers.
Lower and middle-class wages have seen significant growth, reducing income inequality and benefiting various demographics.

The strong American labor market, marked by low unemployment rates, has shifted power from employers to workers, resulting in higher wages and improved financial well-being.
The surge in household wealth, driven by rising home prices, has contributed to the overall positive economic outlook.

"The growth rate is high, the unemployment rate is at historic lows, household wealth is surging, and wages are rising faster than costs, especially for the working class."
"The U.S. economy has had a remarkable four-year run, judged against both its own history or the international competition."
"What was misleadingly labeled the 'Great Resignation' was really more of a great reshuffling, as record numbers of workers quit a job to take a better-paying one."
"The U.S. still has lower life expectancy and much higher levels of inequality, poverty, and homelessness than other wealthy nations."
"From the end of 2019 to the end of 2023, the lowest-paid decile of workers saw their wages rise four times faster than middle-class workers and more than 10 times faster than the richest decile."

This summary contains AI-generated information and may have important inaccuracies or omissions.