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Updated state of the US Economy The United States economy is reaching higher potential then could be expected With unemployment down and consumption up we are looking at a very prosperous time in our economy Economist William B Conerly stated in an article on unemployment that the nation as a whole is in a healthy state With the stock market making a comeback to the record setting highs of this summer this would indicate that the economy is in a prosperous state and the public as a whole is doing well After rising by 11 in September due to increases in tobacco automobile and oil prices the PPI Producer Price Index fell by 1 in October This fall is related to the decline in the core inflation which includes food and energy goods This figure of the October PPI was below market expectations Markets had predicted a 1 increase in this index This decline in the index was due to an unexpected decrease in food and energy of 29 With a decline in the PPI and overall inflation moderate inflationary pressure is still putting pressure on the Fed to increase interest rates This may not be a bad idea for the Fed increasing interest rates at a minimum might decrease the scare of an inflation boom in the upcoming quarter Unemployment again fell in October to an astounding rate of 41 the lowest unemployment rate since January 1970 Despite this decline wage pressures are still well contained With wage pressures contained we have again avoided an expected increase in inflation The average hourly earnings rose 001 to 1337 adding 310000 jobs up from the 40000 in September Productivity is also predicted to increase around 30 in the third quarter This again shows our economy is doing well Another sign of our prosperous economy is the stock market With the Dow Jones closing last week up sixty-five points to 10704 and
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