Retail sales rise modest 0.3%, but optimism still buoyed
With Americans paying more across the board for necessities like food and gas, the slowdown in spending may be an indication of inflation fatigue.
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Wholesale inflation jumps record 9.6% over past 12 months
The increase in wholesale prices was widespread, led by a 1.2% increase in the cost of goods and a 0.7% rise in the price of services.
Surging inflation forcing people, businesses to adapt
Across the United States, in homes and in businesses, the highest inflation in a generation is heightening financial pressures and forcing people to adapt to a new reality.
U.S. consumer inflation up 6.8% in past year, most since 1982
The Labor Department also reported Friday that prices rose 0.8% from October to November—a substantial increase, though slightly less than 0.9% increase from September to October.
U.S. jobless claims at 52-year low amid seasonal volatility
The four-week moving average, which smooths out week-to-week ups and downs, fell below 219,000, lowest since the pandemic hit the United States in March 2020.
Poll: Incomes are up, but Americans focus on inflation
Most people say the sharply higher prices for goods and services in recent months have had at least a minor effect on their financial lives, including about 4 in 10 who say the hit has been substantial.
Companies predicted to give biggest raises since 2008
Americans are in line for their biggest wage increase in more than a decade, according to a report released Wednesday, as companies struggle against a tight labor market and high inflation.
U.S. businesses advertise for near-record 11 million open jobs
The figures from the Labor Department’s Job Openings and Labor Turnover survey, or JOLTS, show that with so many companies chasing relatively few unemployed people, job-seekers have the most bargaining power they have had in at least two decades.
U.S. trade deficit narrows in October as exports rebound
The October deficit was the smallest monthly deficit since a $66.2 billion imbalance in April.
Survey: Business economists foresee persistent inflation
The nation’s business economists have sharply raised their forecasts for inflation, predicting an extension of the price spikes that have resulted in large part from bottlenecked supply chains.
U.S. employers added 210,000 jobs in November, lowest gain in nearly a year
Overall, the November jobs figures point to a job market and an economic recovery that look resilient though under threat from a spike in inflation, shortages of workers and supplies and the potential impact of the omicron variant of the coronavirus.
U.S. jobless claims rise by 28,000, but still low at 222,000
The four-week average of claims, which smooths out week-to-week ups and downs, fell below 239,000, a pandemic low.
GM cites improved chip supply in raising financial guidance
General Motors raised its outlook Wednesday and said it expects to return to a normal production rate by the end of next year.
Fed survey finds supply chain shortages boosting inflation
In a survey of business conditions, the Fed’s 12 regional banks found that the economy continued to grow at a modest-to-moderate pace. But because of supply chain problems, price increases were reported to be widespread across the economy.
November delivers another hit to sinking consumer confidence
Even before the omicron variant appeared, consumer optimism was being tested by price spikes across the board, particularly for gasoline and food.
U.S. commerce secretary urges boost in semiconductor output
Gina Raimondo will press Congress to pass legislation that would put about $52 billion toward U.S. chip manufacturing in a speech to the Economic Club of Detroit during a visit to the city that’s the capital of American auto manufacturing.
Consumer spending rebounds despite rising October inflation
U.S. consumer spending rebounded in October, rising by a a solid 1.3% despite rising inflation that over the past year has reached the fastest pace in more than three decades.
U.S. GDP slowed sharply in Q3, but big rebound expected in Q4
The expectation is that the economy in the current October-December quarter could grow at the strongest pace this year, with some economists forecast GDP could surge to an 8% rate in the fourth quarter.
Bohanon & Curott: Dual-family income to single income is not ‘bad’ outcome
The economic principle of revealed preference comes into play: what people do reveals their preferences. In the family’s own estimation, they are better off!
Here’s why inflation is so high, and when it might ease
As any American who has bought a carton of milk, a gallon of gas or a used car could tell you, inflation has settled in. And economists are now voicing a more discouraging message.