Inflation is an everyone problem and unemployment is a some-people problem.
Keep that fact in mind as good-to-great headline economic numbers keep rolling in and economic sentiment remains abysmal. This week, the Commerce Department reported that real GDP fell 0.4 percent in the first quarter of the year, largely because of fluctuations in inventory orders and international trade. Consumer spending and business investment both looked strong, indicating an economy growing a tad faster than it did last quarter, not one teetering on the edge. Employment data look even better: Companies added 431,000 employees to their payrolls in March, with the jobless rate falling to just 3.6 percent.
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