More Good Economic News On Friday
New jobs surged in October, unemployment stood at a 49-year low, and wages rose more than they have in nearly a decade. But the really big story, which received scant mention in the media, is that productivity soared again.
Real disposable income — personal income after taxes, adjusted for inflation, and divided by the number of people in the U.S. — in the 12 months through September, grew by 2.2%.
That’s a 30% higher pace than in the last economic boom.
Car sales, in October, shifted into high gear.
After speeding to 17.9 million in September, car sales were expected to slow — but, no! — they went to 18 million!
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