Is the economy awful? S&P 500 and job market say otherwise

Yahoo Finance Executive Editor Brian Sozzi examines the latest economic indicators, including how low unemployment rates and S&P 500 (^GSPC) records contrast with everyday consumer inflation like $30 steaks and $5 Lay's potato chips at CVS.

For more many uh for many US households, it may not feel like the economy is doing well due to the higher cost of living brought up by the US war in Iran.

Diesel prices over $6 a gallon if not higher in some locations. It costs over $30 to buy a decent New York strip at the supermarket. How do I know? I just did it and it cost me over 30 bucks.

I just bought a bag of Lay's potato chips from that table for over $5 at the CVS near Yahoo Finance HQ. That was a $5 purchase on my personal credit card.

But believe it or not, US economy is nearing an impressive achievement on the economic front. The US unemployment rate is nearing record consecutive months below 5%, points out strategist uh at Truist Keith Lerner. Love Keith's work.

The long-time record dates back to the mid-1960s. Worthwhile perspective to keep in mind as you hear people say the economy is terrible.

It's not terrible, it just may not be working for the masses for one reason or another.

Believe me, if the economy was so awful, you would not have the S&P 500 sitting near a record and corporate earnings on pace to surge 30% this year.