The U.S. economy is going strong. The May employment report marked the 14th straight month that more jobs were created than economists expected. Incredible. The U.S. economy has created more than 4 million new jobs in the past 12 months.
GDP continues to grow, and is up more than 5% from its pre-pandemic peak, even after accounting for inflation.
The average U.S. employee now makes $33.44 per hour, a raise of more than 17.5% since pre-pandemic.
The stock market is up 10% so far this year, and we’re not even halfway done. The S&P 500 posted its best day in almost a month with the blue-chip index rising to a high for the year, 11.5% so far in 2023
Inflation has been slowing steadily and the Fed is not expected to raise interest rates at its next meeting. Good news.