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Job growth was much better than expected in November despite the Federal

Reserve’s aggressive efforts to slow the labor market and tackle inflation.

Nonfarm payrolls increased 263,000 for the month while the unemployment rate

was 3.7%, the Labor Department reported Friday. Economists surveyed by Dow

Jones had been looking for an increase of 200,000 on the payrolls number

and 3.7% for the jobless rate.

The monthly gain was a slight decrease from October’s upwardly revised 284,000.

A broader measure of unemployment that includes discouraged workers and those

holding part-time jobs for economic reasons edged lower to 6.7%.

The Inflation Reduction Act of 2022

Makes urgent investments to lower prescription

drug costs, health care costs, and energy costs to create opportunities for

America’s 33 million small businesses and innovative startups. It is the most

aggressive action we have taken to confront the climate crisis.

How much has the U.S. government spent this year? The U.S. government has

spent $406.37 billion in fiscal year 2023 to ensure the well-being of the

people of the United States. Fiscal Year-to-Date (since October 2022)

total updated monthly using the Monthly Treasury Statement (MTS) dataset.

What is the federal funds rate now?

Effective Federal Funds Rate is at 3.83%, compared to 3.83% the previous

market day and 0.08% last year. This is lower than the long term average of 4.60%.

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The next twelve months must see a slow down in job creation for traditional

economic theory to be applied to our current economy. Everyone, most everyone

sees the Federal Reserve as the cure to inflation. The Federal Reserve is

still stimulating the United States Economy with a 3.85% Fed Fund Rate.

Furthermore Build Back Better which didn’t passed the United Congress passed

in other Act which is creating jobs at a record paste in October 265,000

jobs and this will continue even though the Federal Reserve is increasing

interest rates. RECESSION –A period of temporary economic decline during

which trade and industrial activity are reduced, generally. US Real GDP is

at a current level of 20.02T, up from 19.90T last quarter and up from 19.67T

one year ago. This is a change of 0.64% from last quarter and 1.77% from one

year ago. identified by a fall in GDP in two successive quarters. You’re

correct. We’re not in a recession and current Fiscal Polices will prevent one.


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