The July U.S. jobs report shows that 23,000 jobs were lost, yet the unemployment rate fell from 4.2% to 4.1%.<\/p>\n
On Inside Erie Politics, Mike Ruzzi and Philip Ward spoke with Dr. Lonnie Golden, a professor of economics and labor-human resources at Penn State Abington, who explained how that can happen.<\/p>\n
Golden said that while the U.S. economy is currently holding steady, Americans are not feeling that stability because of recent expectations.<\/p>\n
\u201cFor many decades we lived with relatively low inflation and stable wage and salary increases and while those are still stable, prices are escalating beyond them,\u201d Golden said.<\/p>\n
Another reason why Americans are frustrated is wages and salaries are not keeping up with inflation.<\/p>\n
\u201cThe income that is being generated is accumulating much more to the upper-income classes than to the lower and middle-income classes,\u201d Golden said.<\/p>\n
The latest Consumer Price Index report, traditionally used to track inflation will be released at 8:30 a.m. Wednesday.<\/p>\n","protected":false},"excerpt":{"rendered":"The July U.S. jobs report shows that 23,000 jobs were lost, yet the unemployment rate fell from 4.2%…\n","protected":false},"author":2,"featured_media":263035,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[136,138,137,296,139,50],"class_list":["post-263034","post","type-post","status-publish","format-standard","has-post-thumbnail","category-erie","tag-erie","tag-erie-headlines","tag-erie-news","tag-local","tag-news","tag-politics"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/posts\/263034","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/comments?post=263034"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/posts\/263034\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/media\/263035"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/media?parent=263034"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/categories?post=263034"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/tags?post=263034"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}