Rising Grocery Prices Pushed Annual Inflation to 8.3 Percent in August

“So-called “core CPI,” which filters out the more volatile categories like food and fuel prices, rose by 0.6 percent in August. In short, falling gasoline prices helped to offset broader and more pernicious inflation across the rest of the economy.”

Are teachers leaving the classroom en masse?

““I think what is clear among all the noise is that there hasn’t been a mass exodus. In some districts there have been elevated rates of teachers leaving,” said Heather Schwartz, senior policy researcher at the RAND Corporation. “‘Mass exodus’ is an undefined term. But we may all think of it as doubling or tripling the normal attrition rate and we have not seen that.”
Some data sources suggest that the number of teachers really has declined, even if it hasn’t yet hit mass exodus levels. There were about 270,000 fewer school staffers in July 2022 — including teachers, bus drivers, counselors, and librarians — than there were in January 2020, according to preliminary data from the Bureau of Labor Statistics.

Bleiberg and Kraft, using both national and state-level data, found that overall employment in the K-12 labor market declined by 9.3 percent at the onset of the pandemic and was still 4 percent below pre-pandemic levels in March 2022.

A survey from RAND of 291 school district leaders, released in July, found that 58 percent of district leaders foresee a small shortage this year and 17 percent anticipate a large shortage. The survey also found that more than three-quarters of district leaders said that they have expanded their teaching staff, in some cases including substitute teachers, above pre-pandemic levels as of spring 2022.”

“The usual culprits for teacher dissatisfaction are ever-present. About 75 percent of pre-K to grade 12 teachers who participated in the AFT survey reported that conditions have changed for the worse over the past five years.

The reasons included their workload, greater responsibilities, unrealistic expectations, student behavioral issues, pay that doesn’t keep up with inflation, a lack of support from school leadership, and a lack of support from parents. About 74 percent of respondents said they would not recommend the teaching profession to a prospective new teacher. (Other large surveys of teachers from the National Education Association, the largest labor union in the country, and RAND tell a similar story.)”

The Never Trump wing of the GOP never had a chance

“The bad news for Never Trump Republicans this week wasn’t just that Liz Cheney lost the primary for her Wyoming congressional seat on Tuesday. It wasn’t even that she lost by such an overwhelming margin. It was that her loss fit a pattern in which the GOP’s voters have roundly rejected Republican after Republican who voted to impeach Trump. Only two of the 10 House Republicans who did so will even be on the ballot in November — one of whom is running in a district that Joe Biden won by more than 10 percentage points in 2020.
It’s clear at this point that the Republican Party is a pro-Trump party, and that its voters recoil from candidates who are ardently opposed to the former president. The results of this primary season — and Cheney’s loss in particular — show a Never Trump wing on the verge of extinction.”

How Biden Lost The Support Of Young Americans

“From my conversations with experts who study the political beliefs of young Americans and an examination of recent polling data, I’ve identified a few key factors that help explain the large drop-off in support. First, of course, they are concerned about the economy — a major driver of disapproval of Biden overall — and about the direction the country is headed. But young Americans also have some concerns that set them apart from older Americans. They are particularly worried about achieving financial independence and other markers of adulthood, for instance. They are also frustrated with the Biden administration’s limited progress on issues like tackling climate change and forgiving student debt, which many young people care a lot about. Moreover, Biden wasn’t the first choice of young voters in the 2020 Democratic primary, so his approval among this group may have been soft to begin with. The question now is whether this dissatisfaction with Biden will affect whether young Americans vote in the midterms, a potentially significant factor in determining how poorly the midterms could go for Democrats since young people voted at a higher rate in 2018 than in previous midterms and overwhelmingly backed Democrats.
In some ways, Biden’s decline among young Americans mirrors his standing overall. As Biden’s approval rating has fallen to 38 percent in FiveThirtyEight’s presidential approval tracker,1 18- to 29-year-olds’ approval of Biden has also slipped to 37 percent, with 53 percent disapproving of his job performance, based on data from FiveThirtyEight’s polling database.2”

Latest Inflation Numbers Show That Rent Is Too Damn High

“The latest Consumer Price Index (CPI) by the Bureau of Labor Statistics (BLS) shows that prices ticked up by 0.1 percent for urban consumers in August, for an annualized increase of 8.3 percent for the year. The marginal increase in inflation comes in spite of fuel costs falling 10.3 percent last month.
“Increases in the shelter, food, and medical care indexes were the largest of many contributors to the broad-based monthly all items increase,” said the BLS in its news release today. The latest CPI numbers show a 0.7 percent increase in shelter costs in August and 6.2 percent over the past year.

The BLS measures both cash rents paid by tenants and something called Owners’ Equivalent Rent—a measurement of how much an owner-occupied home could be rented for. The bureau doesn’t include home prices in the CPI.

Spot rents reported by listing companies are growing at an even faster rate. Apartment List reports a 7.2 percent increase in rental prices so far this year. That’s moderate compared to the 17.6 percent increase in rents the company reported in 2021. It’s still well above pre-pandemic increases from 3.4 percent and 2.3 percent in 2018 and 2019 respectively.

Rents plunged during 2020, driven by an urban exodus from high-cost coastal metros like New York City, San Francisco, Los Angeles, and Seattle. Many of those same cities are where rents are growing the fastest—alongside many of the Sun Belt metros where people fled to during the pandemic.

That suggests at least a partial reset of migration patterns during the pandemic. People are returning to the city (although not necessarily to the office).

The upshot is that the country’s housing affordability struggles aren’t going anywhere. Some analysts warn that they’re likely to get worse.”