Good News On Jobs Overshadowed For Millions Of Americans By Soaring Inflation

NBC News published this video item, entitled “Good News On Jobs Overshadowed For Millions Of Americans By Soaring Inflation” – below is their description.

The job market is hot, with employers adding twice the number of jobs predicted for July. Unemployment has fallen to 3.5%, taking the U.S. back to pre-Covid times. Though good news, millions of Americans are plagued by the 40-year high inflation. A July survey finds that 51% of Americans now don’t have an emergency fund that can cover three months’ expenses. 

NBC News YouTube Channel

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In economics, inflation refers to a general progressive increase in prices of goods and services in an economy. When the general price level rises, each unit of currency buys fewer goods and services; consequently, inflation corresponds to a reduction in the purchasing power of money.

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