The Daily

The State of the U.S. Economy in 4 Numbers

Feb 1, 2023

Ben Casselman, an economics and business reporter for The New York Times, dives into the U.S. economy's current state through striking numbers. He discusses the skyrocketing average home price of $372,700 and the concerning 76,000 tech sector layoffs juxtaposed against a low unemployment rate. Consumer spending has dipped by 0.2%, hinting at shifting behaviors. Casselman also highlights a staggering 251% increase in egg prices over the year, illustrating inflation’s impact. Insights into the Federal Reserve's interest rates round out this engaging analysis.

23:07

Creator website

Episode guests

Ben Casselman

Highlights

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Episode notes

The Housing Market: What's Stopping It From Falling?

01:18

The Importance of Planning for a Tech-Laos Situation

00:35

Intro

2min

Stagnation in the U.S. Housing Market

6min

Navigating the Complex Job Market

6min

Consumer Spending and Economic Signals

9min

Federal Reserve's Interest Rate Decision and Political Repercussions

3min

The typical sales price of an existing family home in the United States in December: 372,700. The number of layoffs in the tech sector since the beginning of the year: 76,000. The number by which consumer spending fell in December: 0.2 percent. The increase in the cost of the same kind of carton of eggs bought by an editor on “The Daily” a year apart: 251 percent.

What do these numbers tell us about the state of the country’s economy?

Guest: Ben Casselman, an economics and business reporter for The New York Times.

Background reading:

The U.S. economy showed momentum at the end of 2022, defying recession fears and displaying the resilience of consumers and businesses in the face of inflation and rising interest rates.

For more information on today’s episode, visit nytimes.com/thedaily. Transcripts of each episode will be made available by the next workday.

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