Listed below 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 fee was at 4.1% in October.
The unemployment fee is up from 3.4% in April 2023 – and that matched the bottom unemployment fee since 1969!
2) Low unemployment claims.
This graph reveals 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 reveals family mortgage debt as a % of GDP.
Mortgage debt is up $2.34 trillion from the height throughout 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 throughout the housing bust.
4) Mortgage Delinquency Price Close to the Lowest Stage since at the least 1979
The % of loans within the foreclosures course of are near the file low.
5) Family Debt burdens at Low Ranges (ex-pandemic)
This graph, primarily based on information from the Federal Reserve, reveals the Family Debt Service Ratio (DSR), and the DSR for mortgages (blue) and shopper debt (yellow).
This information suggests combination family money stream is in a strong place.
