Listed here are 5 financial causes to be grateful this Thanksgiving. (Hat Tip to Neil Irwin who began doing this years in the past)
1) The Unemployment Price is at 4.1%
The unemployment price was at 4.1% in October.
The unemployment price is up from 3.4% in April 2023 – and that matched the bottom unemployment price since 1969!
2) Low unemployment claims.
This graph exhibits the 4-week shifting common of weekly claims since 1971.
The dashed line on the graph is the present 4-week common.
3) Mortgage Debt as a P.c of GDP has Fallen Considerably
This graph exhibits family mortgage debt as a % of GDP.
Mortgage debt is up $2.34 trillion from the height through the housing bubble, however, as a % of GDP is at 45.9% – down from Q1 – and down from a peak of 73.3% of GDP through the housing bust.
4) Mortgage Delinquency Price Close to the Lowest Stage since at the very least 1979
The % of loans within the foreclosures course of are near the document low.
5) Family Debt burdens at Low Ranges (ex-pandemic)
This graph, based mostly on knowledge from the Federal Reserve, exhibits the Family Debt Service Ratio (DSR), and the DSR for mortgages (blue) and shopper debt (yellow).
This knowledge suggests combination family money movement is in a strong place.
