20231109

US Economy Scores Low on New Index Measuring Nation’s Well-Being

The index, a project of the American Academy of Arts & Sciences, seeks to go beyond traditional economic indicators to assess how households are really doing and their outlook in life. The new dashboard includes 11 gauges of health, wage growth, education and civic participation, among other measures, down to the county level.

The nation’s well-being scored 4.91 on a scale of 10 in 2021, reflecting poor levels of economic opportunities and household financial resilience, according to the index, which is drawn in part from Census Bureau surveys and the National Center for Health Statistics.

Since the index uses data from 2005 to 2021, it doesn’t capture the recent surge in consumer prices nor the impact from the Federal Reserve’s interest-rates hikes to fight inflation. But it may help shed light on the growing disconnect between the way Americans have been feeling about the economy — poorly — and indicators such as gross domestic product that are showing strong growth.

Another proposal is to let states, tribes or municipalities sponsor immigrants via community partnership visas to help ease labor shortages in manufacturing, health care and other sectors. Immigrants spend an estimated $1.3 trillion annually and contribute $492 billion in local, state and federal taxes, according to the report, titled Advancing a People-First Economy.

EK: Immigrants create jobs, not take jobs. A big misunderstanding among Americans. Without immigrants, all those innovations in the West and the Northeast will move to other countries. Good luck, America, with no more immigrants.