NOVEMBER JOBS REPORT: Resilient Job growth and Stable Inflation support Economic Optimism
By Bernard E. Anderson, Ph.D.
Whitney M. Young, Jr. Professor Emeritus, The Wharton School, University of Pennsylvania, and Senior Economic Advisor, National Urban League
Inflation, as measured by the personal consumption expenditure (PCE) index, has slowed significantly, declining from a peak of 7.2 percent in June 2022 to just 2.3 percent over the 12 months ending in October 2024. Core PCE, which excludes food and energy, also eased to 2.8 percent, down from a high of 5.6 percent in February 2022. The data suggest continued progress in stabilizing the economy while avoiding the feared "hard landing."