Why the public is unhappy with the economy
- Average standard of living for earners is down since President Biden took office
- Average weekly earnings rose 11% between January 2021 and September 2023
- Consumer-price index increased 18% during the same period
Alan Blinder’s inability to understand why the public is unhappy with the economy is perplexing. The average standard of living for earners has declined since President Biden took office. According to the U.S. Bureau of Labor Statistics, average weekly earnings rose by only 11% between January 2021 and September 2023, while the consumer-price index increased by 18% during the same period. These figures clearly indicate a significant gap between income growth and inflation, leading to a decrease in purchasing power and overall dissatisfaction with the economy.
Public Companies:
Private Companies:
Key People: Alan Blinder (unknown), President Biden (President)
Factuality Level: 2
Justification: The article contains personal opinion and subjective statements, such as the author’s perplexity and disagreement with Alan Blinder’s understanding. It also includes a claim about the average standard of living being down since President Biden took office, without providing any evidence or sources to support this claim. The article lacks objectivity and factual information.
Noise Level: 3
Justification: The article contains some relevant information about the average standard of living and consumer-price index, but it lacks a thoughtful analysis of long-term trends or possibilities. It also does not provide evidence or examples to support its claims. The article seems to be more focused on expressing the author’s personal opinion rather than providing actionable insights or solutions.
Financial Relevance: Yes
Financial Markets Impacted: No
Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article discusses the impact of the economy on the average standard of living, which is a financial topic.
