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Tag Archives: Biden Administration Recovery
Biden Recovery – Unemployment at Lowest Level in 54 years
“Let’s not forget where we were when the President took office – the economy was in crisis,” said Commerce Secretary Gina Raimondo. “Now, we’ve achieved record job creation, record low unemployment, and a record number of small business applications. America is on the move once again.” Continue reading
Transportation Unemployment Rate Below Pre-Pandemic Level
The April 2022 rate fell 3.9 percentage points from 7.5% in April 2021 and decreased close to the pre-pandemic April level of 3.7% in April 2019. Unemployment in the transportation sector reached its highest level during the COVID-19 pandemic (15.7%) in May and July 2020 under the policies of the voted-out Trump mis-administration. Continue reading
US Vehicle Transaction Prices Down in January
The automobile market is not contributing to inflation. The extensively covered January Consumer Price Index (CPI), a key measure of inflation is widely misrepresented in AutoInformed’s opinion.
Cox Automotive* said today that it observed declines in retail vehicle prices last month, according to actual transaction data. Kelley Blue Book reported that average transaction prices for new vehicles were down by 3.5% year-over-year, Another Cox measure, Dealertrack data show average used retail prices down slightly less. “Both measures indicate the retail auto market is not pushing overall inflation higher,” Cox said. Continue reading →