By Daniel LaCalle, includes “With massive monetary and fiscal support and a government deficit of $2.77 trillion, the second highest on record, job creation falls significantly short of previous recoveries and the employment situation is significantly worse than it was in 2019. The most alarming datapoint is that real wages are plummeting. Average hourly earnings have risen 4.7 percent in 2021, but inflation is 6.8 percent, sending real wages to negative territory and the worst reading since 2011.” (Note: See “From the Vaults” story below)
Read the full article on: Mises Institute