There are two big questions right now about the U.S. economy. One is why it’s doing so well. The other is why so many Americans insist that it’s terrible.

I have no illusions about persuading conservatives that the economy is in good shape; their minds are made up, and pointing out facts at odds with their views just makes them angry.

But there also seem to be a significant number of progressives unwilling, for different reasons, to accept the good news. And this group, at least, might be willing to listen to arguments that President Biden has accomplished more than they realize, as well as the proposition that half a loaf is better than none and much better than what Biden’s opponents will do if given the chance.

About the good economic news: This week two excellent economic reports were added to the pile. On Wednesday, the Bureau of Labor Statistics reported that in the third quarter, labor productivity rose at an annual rate of 5.2 percent, which is really, really fast. It’s too soon to call a trend, but there is increasing reason to hope that our economy is capable of growing considerably faster than we previously thought.

Oh, and unit labor costs are up only 1.6 percent over the past year, another indicator that inflation is coming under control.

Another report showed that unfilled job openings are down. Last year many economists were arguing that the high level of vacancies meant that we needed high unemployment to control inflation. That gap has now largely disappeared, one of many signs that the economy is healing from the disruptions brought on by the Covid pandemic. And this process of healing explains why we’ve been able to get inflation down without a recession or a surge in unemployment.