![]() Next year, projects funded through this important legislation will start rolling out and long overdue improvements to our roads, bridges and broadband infrastructure will begin.įurthermore, Democrats and Republicans came together to clear the way for the U.S. It may seem like nothing is getting done in Congress, but important things have been happening.įirst, the bipartisan infrastructure has been passed and signed. We still need to be cautious and scientists are collecting more data, but so far no one has died with this variant that we know of. Omicron, also may be less severe than delta. However, those vaccines, especially with a booster shot, have proven highly effective against omicron. Researchers had worried that it could evade COVID-19 vaccines. Now, after a few weeks of watching, it appears that omicron isn’t the raging monster mutant that everyone feared it would be. ![]() There was speculation that it could be even more transmissible than delta and possibly cause more severe illness. We move forward despite extraordinary challenges, no matter who is in control in Washington.Ī few weeks ago the news of the rise of the omicron variant was everywhere. A survey of large employers found that pay could increase by an average of 3.9% next year.Įconomists are also projecting that inflation will ease next year as supply chain issues are resolved.Īll of this shows the strength and resiliency of the American economy. The Labor Department announced that weekly claims for unemployment benefits hit a 52-year low this week. Still Americans’ disposable income grew 3% (after inflation) through October, according to economic consultant Robert J. Wages have also grown during this period, though not quite as fast as inflation has risen. Real GDP growth hasn’t grown more than 3% in this country in the past 20 years. The Federal Reserve is projecting the economy to grow 5.9 percent for 2021 and 3.8 percent in 2022. But the inflation increase, which is a concern, comes with incredible economic growth. This is all causing anxiety for consumers as their budgets are stretched thin during the holidays.
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