U.S. unemployment is down. Consumer confidence is up. Inflation is low. The economy is voters’ top concern ahead of the midterm elections next month, ranking ahead of national security, according to a recent Politico poll.
Only 42% of those surveyed by CNN late last month thought the economy was in good shape. While that’s the highest share since January 2008 and an improvement from the 29% who felt this way a year ago, it’s still weak overall.
Let’s take a look at what’s going right: The unemployment rate is below 6% for the first time since 2008. Job openings are back to 2001 levels. Consumer confidence is at its highest point since before the recession, and inflation remains a tame 1.7%. Sounds great, but it’s taken the country a long time to get to this point, said Richard Curtin, chief economist of the Thomson Reuters/University of Michigan Survey of Consumers.
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GBP/USD retreats to 1.2500 on renewed USD strength
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Gold struggles to hold above $2,350 following US inflation
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