Lately I’ve been taken to task for relying too heavily on the rate of inflation as a measure of economic health. Let’s consider some others.
Real median household income
Since 2019 real median household income in the U. S. has declined sharply.
Household net worth
When adjusted for inflation household net worth has declined.
What about unemployment (I hear someone say)? Yes, unemployment is back down to 2019 levels but that statistic must be considered with an asterisk. Labor force participation is down since 2019:
That means that the actual number of people working has declined since 2019 and, as I have previously noted, that cannot be explained by more people pursuing higher education because college enrollments are down, too.