How the economy can be so strong when you feel like it stinks
CNN
There is a Covid economy contradiction. Pandemic exhaustion and higher prices are overshadowing a roaring economy.
The economy surged ahead in 2021 at the fastest pace since Ronald Reagan was in the White House. The jobless rate in December fell to 3.9%, a level historically considered nearing full employment. Wages are growing the fastest in years, especially for low-wage workers.
The Fed boss, Jerome Powell, this week called the labor market "tremendously strong" and said he expected it to stay that way. For the first time in memory, workers have the upper hand in the jobs market. Another 4.5 million workers quit their jobs in November, many in pursuit of better jobs and better pay.
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