This video discusses how the slowdown in manufacturing and service industries owing to labor and supply shortages. It mentions that car sales declined in April. The video also covers the good news on the employment front. A record number of people are quitting their jobs and finding new ones, while the number of open positions remains very high. With tight labor markets and inflation running at a 40-year high, the Federal Reserve has increased the funds rate and planned to begin reducing its balance sheet to counteract rising prices. On the real estate front, the video looks at the increase in mortgage rates, which pushed the monthly payment on a median-priced home $600 higher than last year, and how weekly data shows more homeowners listing their properties for sale, just as 60% of shoppers are broadening their searches beyond their hometowns, looking for affordability.
