Neil Irwin at the NYTimes Is Confused
He muses,
“Workers have seized the upper hand in the labor market, attaining the largest raises in decades and quitting their jobs at record rates. The unemployment rate is 4.6 percent and has been falling rapidly. Cumulatively, Americans are sitting on piles of cash; they have accumulated $2.3 trillion more in savings in the last 19 months than would have been expected in the prepandemic path. The median household’s checking account balance was 50 percent higher in July of this year than in 2019, according to the JPMorgan Chase Institute.
Yet workers’ assessment of the economy is scathing.
In a Gallup poll in October, 68 percent of respondents said they thought economic conditions were getting worse.”
His by-line at the paper reads, Neil Irwin is a senior economics correspondent for The Upshot. He is the author of “How to Win in a Winner-Take-All-World,” a guide to navigating a career in the modern economy.
Which tells me a lot about Neil and his confusion
First of all, he’s a senior eco…