- ORIGINAL NEWS
The 2023 U.S. economy, in a dozen charts
- SUMMARY
The United States economy experienced a strong year in 2023, despite concerns about inflation and interest rate increases.
The labor market remained resilient, with job creation exceeding 200,000 in December and nearly 2.7 million overall for the year, keeping the unemployment rate at a low 3.7%.
Consumer spending remained robust throughout the year, with bright spots in travel and entertainment.
The stock market also performed well, with all three major U.S. indexes ending the year with considerable growth.
However, there were some challenges for consumers, including high mortgage rates and low existing home sales.
Overall, 2023 turned out to be a favorable year for the U.S. economy, showcasing resilience in the job market, robust consumer spending, and positive market performance.
- NEWS SENTIMENT CHECK
- Overall sentiment:
positive
Positive
“The U.S. labor market ended the year strong, creating more than 200,000 jobs in December, according to figures released Friday by the U.S. Bureau of Labor Statistics.”
“In total, the U.S. created nearly 2.7 million jobs in 2023, when seasonally adjusted.”
“Consumer spending remained robust throughout the year, with monthly advanced retail sales staying above the $600 million mark for most of 2023, proving that despite many economic headwinds, U.S. consumers could not be deterred.”
“All three major U.S. indexes ended the year with considerable growth, with tech stocks leading the way.”
Negative
“There were some trouble areas for consumers, however, with mortgage rates high and existing home sales low.”
“Inflation continues to be top of mind for U.S. consumers, the rate of inflation cooled significantly in 2023.”