06/26/2023
“The technical term for the type of economy that we’re in now is weird.” – William Hauk, associate professor of economics at the University of South Carolina. Economists have been predicting a for months, but the labor market has remained resilient, wage growth is higher than before the pandemic, and continues to drop, now at 4% compared to 9.1% in June of last year. Despite this good news, consumers don’t feel confident about the future, according to the consumer confidence index, which is at a six-month low. National economy reporter Casey Quinlan sorts it all out.
Despite a string of good economic news, consumers don’t feel confident about the future, according to the consumer confidence index.