The Conference Board’s Employment Trends Index has successfully tracked job growth trends in the past. It has dropped from 112.16 in March to 111.25 in April, fueling fears that the U.S. economy may be facing stagflation a combination of low economic growth, high unemployment and elevated inflation.
This is everywhere throughout the state of Pennsylvania.
People are broke and struggling here from Biden's stagflation. https://t.co/SL9kiEqWWE
— Paul Villarreal (AKA Vince Manfeld) (@AureliusStoic1) May 4, 2024
Factors contributing to the decrease include negative changes in the percentage of respondents who found jobs hard to get, the ratio of involuntary part-time workers to all part-time workers, and the number of employees hired in temporary positions.
Associate economist at The Conference Board Will Baltrus, stated, “However, the Index remains historically elevated and is still above its pre-pandemic level which suggests aggregate job losses are less likely than a slowdown in employment growth.”
PRESIDENT TRUMP: “We now have BIDEN STAGFLATION — which spells the death of the American Dream.”pic.twitter.com/uX2DuDOslz
— RNC Research (@RNCResearch) May 1, 2024
The slowdown in hiring projections is causing concern as the U.S. economy grapples with low GDP growth and persistent inflation. “The ETI has been on a downward trajectory since its peak in March 2022 and this month signals a continuation of that trend,” Baltrus added.
The American Middle Class is being punished while the Biden Admin bragging about GDP growth.
Americans can't eat or pay rent with GDP numbers.
– 1/3rd of Americans are working 2d jobs
– Credit Card debt at highest levels in history.
– More Middle Class falling into poverty.
-… pic.twitter.com/2wZTTxxcF5— Grant Cardone (@GrantCardone) May 8, 2024
Federal Reserve Chair Jerome Powell has criticized claims of economic stalling, pointing to low unemployment and underlying growth in certain aspects of GDP.
Many people have assorted opinions about the economy. But most Americans can agree when they get home from the grocery store of after filling up their gas tanks that the economy is experiencing some problems right now that are putting Americans in a difficult situation.
