Consumers unhappy over inflation tempers Cincinnati, Ohio jobs … – The Cincinnati Enquirer

Jobs in Cincinnati and Ohio have bounced back higher than what they were before the COVID-19 pandemic.

Here and across the country, unemployment hovers near lows not seen in decades as the economy rebounds − but consumers are miserable.

Economists blame still not-quite tamed inflation for undermining the optimism they might otherwise feel.

While the annual inflation rate slowed to 3.2% in October (the lowest in two and a half years), the cost of living is still 19.2% higher than it was in March 2020, according to the U.S. Bureau of Labor Statistics. Meanwhile, consumer confidence has slowly recovered from its all-time low in June 2022 as inflation began to abate, according to the University of Michigan’s Consumer Sentiment Index.

Source link

Leave a Comment

Your email address will not be published. Required fields are marked *

Scroll to Top