Friday, January 28, 2022

Overview of the economy January 2022: Nice Graphics!

 Browsing the news and I came across an article entitled, "Infographic: The US economy during Biden’s first year in office" that has a solid description of some factors in the economy that include inflation, unemployment rate, people quitting jobs, job openings (pressured by lack of employee), inflation, consumer confidence, and economy (Very nice graphics. I wish they were shareable for my readers.). I like the graphics because they are telling (I didn't see the writers name. I like to remember them when they are good 🤓.). One thing I kind of saw while looking at the statistics is the relationship between unemployment, inflation, job openings and "I Quit!" rates. If employment is slowing down the economy then it would seem that technology is likely to be a major strategic solution. I do believe we run some risks of employers having a lack of qualified workers and in turn impacting the pace of growth (While technology isn't yet developed to meet the gap.). Under these labor supply pressures this is where wages should rise (hopefully above inflation) and technology should become more common to expand worker productivity (innovation, productivity, and rising wages can go hand in hand.). 

No comments:

Post a Comment