The economy appears relatively healthy with US consumers – the backbone of our economy – showing resiliency despite inflation and higher rates over the past few years. Fortunately, we have now had 20 months of year-over-year wage growth exceeding inflation (real wage growth), so from many perspectives, the economy looks to be in decent shape as we begin 2025. As indicated from the jobs report on January 10, the labor market continues to be strong in the face of higher rates. Companies – by and large - are simply still growing and hiring.