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Economic Overview – November 2022

Written by First Affirmative

Economic Commentary

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  • Inflation is extremely high, and the Fed is trying to combat it by raising interest rates.
  • Consumer sentiment is at a more than 40-year low.
  • Housing affordability is at an extreme low.
  • The ratio of job openings to jobseekers is high, and the unemployment rate has returned to pre-pandemic levels.
  • Wage growth is not keeping up with inflation.
  • We are likely heading toward, or already in the beginnings of, a recession

Figure 1. Inflation