Tag Archives: economy

CNBC reports: The monthly inflation rate dipped in June, providing further cover for the Federal Reserve to start lowering interest rates later this year. The consumer price index, a broad measure of costs for goods and services across the U.S. economy, declined 0.1 from May, putting the 12-month rate at 3%, around its lowest level in more than three years, …

CNBC reports: The U.S. economy again added slightly more jobs than expected in June though the unemployment rate increased, the Labor Department reported Friday. Nonfarm payrolls increased by 206,000 for the month, better than the 200,000 Dow Jones forecast. The unemployment rate unexpectedly climbed to 4.1%, tied for the highest level since October 2021 and providing a conflicting sign for …

CNBC reports: An important economic measure for the Federal Reserve showed Friday that inflation during May slowed to its lowest annual rate in more than three years. The core personal consumption expenditures price index increased just a seasonally adjusted 0.1% for the month and was up 2.6% from a year ago, the latter number down 0.2 percentage point from the …

Yahoo Finance reports: A closely-watched report on US inflation showed consumer price increases cooled during the month of May, according to the latest data from the Bureau of Labor Statistics released Wednesday morning. The Consumer Price Index (CPI) remained flat over the previous month and rose 3.3% over the prior year in May — a deceleration from April’s 0.3% month-over-month …

The Wall Street Journal reports: Stock futures are falling and Treasury yields are climbing after the latest jobs report showed hiring in May was far stronger than expected. Employers added 272,000 jobs for the month, easily topping the 190,000 economists forecast. Investors had been eagerly awaiting the payrolls data for more clues on how the economy is faring, and how …

“We just had this extraordinary pandemic, and yet our economy is strong, low levels of unemployment, it’s extraordinary, and it’s not because the president is pulling all the levers in the right way. No, it’s not. It’s because the American people are fulfilling their dreams. “Yes, the economy is strong. There’s no question. The economy is doing well and that’s …

Politico reports: Economic advisers close to former President Donald Trump are actively debating ways to devalue the U.S. dollar if he’s elected to a second term — a dramatic move that could boost U.S. exports but also reignite inflation and threaten the dollar’s position as the world’s dominant currency. The idea is being discussed by former trade chief Robert Lighthizer …

CNBC reports: Job creation in March easily topped expectations in a sign of continued acceleration for what has been a bustling and resilient labor market. Nonfarm payrolls increased 303,000 for the month, well above the Dow Jones estimate for an increase of 200,000 and higher than the downwardly revised 270,000 gain in February, the Labor Department’s Bureau of Labor Statistics …

NBC News reports: While hundreds of thousands of new residents have flocked to the state on the promise of beautiful weather, no income tax and lower costs, nearly 500,000 left in 2022, according to the most recent census data. Contributing to their move was a perfect storm of soaring insurance costs, a hostile political environment, worsening traffic and extreme weather, …

CNBC reports: Inflation rose again in February, keeping the Federal Reserve on course to wait at least until the summer before starting to lower interest rates. The consumer price index, a broad measure of goods and services costs, increased 0.4% for the month and 3.2% from a year ago, the Labor Department’s Bureau of Labor Statistics reported Tuesday. The monthly …

The Washington Post reports: President Biden called for major new spending initiatives Monday to lower costs for health care, child care and housing, and enough new taxes on the wealthy and major corporations to pay for those proposals and also shave $3 trillion off the national debt over the next decade. With Republicans in control of the House, the proposals …

CNBC reports: Job creation topped expectations in February and pointed to a still-vibrant U.S. labor market, even though the unemployment rate moved higher Nonfarm payrolls increased by 275,000 for the month while the jobless rate moved higher to 3.9%. Economists surveyed by Dow Jones had been looking for payroll growth of 198,000, a step slower from the downwardly revised gain …

Axios reports: President Biden will use tonight’s State of the Union address to admit that prices are still too high in some areas — but argue things were worse under former President Trump, White House chief of staff Jeff Zients tells Axios. Biden, in what could well be the most important speech of his presidency, aims to project fighting optimism …

“We had a blowout jobs report – more than twice the consensus expectation. Now, I know many of my conservative friends are trying to drill holes in this report. But you know what, folks? It is what it is. It’s a very strong report. “Not every economic stat should be viewed through a political lens. I’ve been in this business …

USA Today reports: Hiring picked up sharply in January as employers added a booming 353,000 jobs, highlighting a labor market that continues to defy high interest rates and household financial strains. The unemployment rate held steady at 3.7%, the Labor Department said Friday. Economists surveyed by Bloomberg had estimated that 185,000 jobs were added last month. The January totals were …

The Washington Post reports: The U.S. economy grew by a bustling 3.1 percent in 2023, shaking off recession fears and offering an upbeat picture of consumers and businesses ahead of a pivotal election year. Growth slowed slightly in the last three months of 2023 — to an annual rate of 3.3 percent, down from a sweltering 4.9 percent in the …

CNN Business reports: Gas prices will fall in 2024 for the second year in a row, according to GasBuddy projections shared exclusively with CNN. GasBuddy, which had a forecast for 2023 that proved to be eerily accurate, expects US gas prices will average $3.38 a gallon in the key election year of 2024. That would represent a significant improvement from …

CNN Business reports: After three-plus years of prices steadily — and sometimes sharply — increasing month after month after month, they fell in November. Last month, for the first time since April 2020, prices fell on a monthly basis, according to a closely watched report released Friday by the Commerce Department. November’s Personal Consumption Expenditures price index, a comprehensive measure …

Yahoo Finance reports: The unemployment rate unexpectedly fell in November, reflecting signs that the labor market may not be cooling as quickly as many had initially thought. Data from the Bureau of Labor Statistics showed Friday the unemployment rate was 3.7% down from 3.9% in October, while US economy added 199,000 jobs. The largest jobs increases in Friday’s report were …

ABC News reports: The U.S. economy grew at a blistering pace over three months ending in September, more than doubling growth in the previous quarter and rebuking worries about a possible recession. The robust performance, however, complicates the fight to dial back inflation. Fresh GDP data released on Thursday, which exceeded economist expectations, reinforces other recent indicators of a strong …