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NWSOFA Fiscal and Economic Issues group will meet VIRTUALLY – December 19th @ 7PM
December 19, 2022 @ 7:00 pm - 9:00 pm
NWSOFA Fiscal and Economic Issues group will meet VIRTUALLY – December 19th @ 7PM
The NWSOFA Fiscal and Economic Issues group will meet VIRTUALLY on December 19th at 7 pm. The Zoom room will open by 6:50 pm. Come join us and share your thoughts.
David and Karl will be updating the fiscal and economic data and will present it in December.
“Come learn about the current state of the US economy.”
October jobs report showed 261,000 jobs added. With these additional jobs, total payroll jobs was the most ever. The labor market continues to be strong.
One month CPI inflation for September was 0.4%, up from 0.1% in August and July’s 0.0%. Total inflation in the third quarter was about 0.5%–or an annualized rate of about 2%. However, with gas prices starting to rise, October’s inflation will likely be higher.
September’s twelve month inflation was 8.2%, down from 8.3% in August, 8.5% in July and 9.1% in June. This decline continues to be positive news. Negative news is that core CPI inflation rose to 6.6%.
Spending and the deficit came down in fiscal year 2022 which ended September 30th, Biden’s first budget year. Spending came down by $548 billion and the deficit declined by $1.4 trillion. These were less than previously forecast because the student debt forgiveness announced in August added $426 billion to FY 2022 spending and the deficit.
3rd quarter real GDP growth was at a 2.6% annualized growth rate.
October’s PowerPoint presentations can be found at https://docs.google.com/presentation/d/1L-cTkNVEGrtNTiMHu6c0d4ZoVeez-yqA/edit?usp=sharing&ouid=118152796039843164051&rtpof=true&sd=true
An updated comparison of economies under Democratic vs. Republican administrations can be found at https://docs.google.com/presentation/d/1d_9E2XqGHNsdN78xChoOQwQLv3ekQDaK/edit?usp=sharing&ouid=118152796039843164051&rtpof=true&sd=true
Videos of past meetings can be found at https://www.youtube.com/channel/UCiw8EhKA-e2l3_gM9FVYX2g
After registering, you will receive a confirmation email containing information about joining the meeting.
Link to event information: https://bit.ly/NWSOFA-Zoom