Henry Jekyll, Mr Hyde, United States discussed on The Indicator from Planet Money

Automatic TRANSCRIPT

The streets after Jekyll develops the serum let's go back and forth between Henry Jekyll the guy who starts out as hoover presses evil urges upstanding citizen and to hide who lets out all those urges and indulges the worst parts of himself in all kinds of lusty and murderous ways you're in since its October and Halloween's coming up and more to the point because this is the indicator that is right the story of Dr Jekyll and Mr Hyde his kind of it reminding us of the US economy. Yeah Cardiff has been doing a lot of interesting Mr Hyde Impressions Oh it's coming which involved some very interesting sound effects which I hope you're not going to withhold story but it has been a baffling year in which to follow the US economy because so many indicators have been pointing in opposite directions it's like the economy itself has been struggling with its own good and evil natures so to the show the strange case of the two economies in this is the indicator from planet money I'm Stacey Manic Smith and I'm card Garcia I up the Jekyll on Amee why the US economy is soaring and we'll continue to soar over runners everything's off all the way why reasonable number one the labor market the unemployment rate is three point five percent that is the lowest it has been since May of nineteen sixty nine more than half a century go people have jobs and as long as the economy keeps creating enough jobs month to month which is what is happening right now things will keep looking up in the enemy because that means people are getting jobs and getting raises and they have more money to spend and they can buy things and rent apartments and that just all keeps the economy going we're right reason number two that everything is awesome everything is awesome the people with the lowest wages are the ones getting the biggest raises for the last three years the forty percent of US workers with the lowest wages have had their wages raised by more than all other workers that's in percentage terms in fact their wages have gone more than two percent a year after adjusting for inflation so the strong labor market has been benefiting the workers who need it most that is very je Kellyanne that's right you just coined that didn't you yes okay Kellyanne we're going to allow reason number three that we are in a Dr Jekyll economy the housing market is finally perking up it was kind of sluggish last year and during the first half of this year but now it is starting to look healthier and just yesterday a survey of companies that build home tmz showed that they were more optimistic about the housing market than they'd been since the start of last year and the housing market is a big deal for the rest of the US economy historically wherever the housing doc it goes the economy tends to follow and reason number four the Federal Reserve is on the case even though the US economy is not interest session the Fed has already started lowering interest rates to stimulate the economy because it wants to get ahead of any potential slowdown which means it for example let's say hey the trade war that's going on between the US and China or slowing growth in the rest of the world let's say those things do end up hurting the US economy well the US economy will already be in better shape to withstand the damage because it'll already have some momentum behind it because yeah the Fed knows what's up it's ahead of the curve so there you go Interject Konami so many reasons to celebrate Sumi reasons to be optimistic so many reasons to be a little bored though like everything's awesome like there's evil always more seductive good well that is true everybody thinks Mr Hyde is way more interesting than Dr Jekyll and you know it is a much more interesting the conversation let's be honest you don't stand in the subway talking to people about like how awesome the housing market is well you don't Oh that's so after the break we explore our dark sides and we take a look at the Mr Hyde economy time to drink.

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