Biden’s Economy Forces Americans To Unretire
May 7, 2022 13:56:05 GMT -5
Post by schwartzie on May 7, 2022 13:56:05 GMT -5
Biden’s Economy Forces Americans To Unretire
By ProTrumpNews Staff
Published May 7, 2022 at 9:42am
Joe Biden’s economy has made life worse for everyday Americans.
Many are warning that a recession might be coming. For the first quarter of 2022, The United State’s Gross domestic product declined 1.4% – this is the worse since the beginning of the pandemic.
NBC reported:
Gross domestic product unexpectedly declined at a 1.4% annualized pace in the first quarter, marking an abrupt reversal for an economy coming off its best performance since 1984, the Commerce Department reported Thursday.
The negative growth rate missed even the subdued Dow Jones estimate of a 1% gain for the quarter, but the initial estimate for Q1 was the worst since the pandemic-induced recession in 2020. GDP measures the output of goods and services in the U.S. for the three-month period.
Inflation is also hurting Americans.
Inflation in March increased 6.6% – this is a 40-year-high.
CNN reported:
Americans had to reach deeper into their pockets in March, as yet another key inflation index showed prices hit a fresh 40-year high.
The Personal Consumption Expenditures price index increased by 6.6% for the year ended in March, the Commerce Department reported Friday. It was the highest rate since the period ended January 1982, outpacing the figure from February.
Many Americans are now being forced into unretirement due to rising prices and a higher cost of living.
3.2% of workers who were previously retired are now back in the workforce according to Indeed.
Continued at link
By ProTrumpNews Staff
Published May 7, 2022 at 9:42am
Joe Biden’s economy has made life worse for everyday Americans.
Many are warning that a recession might be coming. For the first quarter of 2022, The United State’s Gross domestic product declined 1.4% – this is the worse since the beginning of the pandemic.
NBC reported:
Gross domestic product unexpectedly declined at a 1.4% annualized pace in the first quarter, marking an abrupt reversal for an economy coming off its best performance since 1984, the Commerce Department reported Thursday.
The negative growth rate missed even the subdued Dow Jones estimate of a 1% gain for the quarter, but the initial estimate for Q1 was the worst since the pandemic-induced recession in 2020. GDP measures the output of goods and services in the U.S. for the three-month period.
Inflation is also hurting Americans.
Inflation in March increased 6.6% – this is a 40-year-high.
CNN reported:
Americans had to reach deeper into their pockets in March, as yet another key inflation index showed prices hit a fresh 40-year high.
The Personal Consumption Expenditures price index increased by 6.6% for the year ended in March, the Commerce Department reported Friday. It was the highest rate since the period ended January 1982, outpacing the figure from February.
Many Americans are now being forced into unretirement due to rising prices and a higher cost of living.
3.2% of workers who were previously retired are now back in the workforce according to Indeed.
Continued at link
