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INFLATION INCREASING COSTS ACROSS THE SPECTRUM

Key Points: The Consumer Price Index (CPI) increased 0.3% in August and is up 5.3% in the last year. Price increases in the last year have been broad, impacting businesses and consumers. The food at home index rose 3.0% over the past 12 months. Five of the six major grocery store food group indexes increased […]

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UNEMPLOYMENT FALLS IN 15 STATES IN AUGUST

Key Points: Unemployment rates fell in 15 states and the District of Columbia and remained stable in 35 states in August. The U.S. unemployment rate fell by 0.2% over the month to 5.2%, and is 3.2% lower than August 2020. 13 states and the District of Columbia have unemployment rates above the U.S. average. Nebraska […]

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RETAIL SALES ROSE BY 0.7% IN AUGUST

Key Points: Retail sales, a measure of purchases at stores, restaurants and online, rose by 0.7% in August over the month. Consensus among economists was a 0.8% decline. Excluding autos, retail sales rose by 1.8% over the month. July’s retail sales were revised from a 1.1% decline to a 1.8% decline. The Right Facts will […]

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INFLATION EASED IN AUGUST, PRICES REMAIN HIGH

Key Points: The Consumer Price Index (CPI) increased 0.3% in August after rising 0.5% in July. CPI increased 5.3% from a year ago, down slightly from July’s 5.4% reading. The core CPI, which excludes food and energy, rose 0.1% in August and is up 4.0% from the previous year. The energy index rose 2.0% and […]

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PRODUCER PRICES RISE 8.3% IN LAST YEAR

Key Points: The Producer Price Index increased 0.7% in August from July. The index rose 8.3% for the 12 months ended in August, the largest advance on record dating back to 2010. Final demand prices moved up 1.0% in July, the same as in June. Leading the August increase in the index for final demand, […]

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MILLIONS STILL UNEMPLOYED DESPITE RECORD JOB OPENINGS

Key Points: The number of available jobs since May continues to outnumber Americans looking for work. Job openings reached 10.9 million in July but there were 8.4 million people unemployed in August. The U.S. added 235,000 jobs in August but there were 5.7 million fewer jobs than there were in February 2020. July’s 10.9 million […]

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U.S. ADDS 235,000 JOBS IN AUGUST, MISSING EXPECTATIONS

Key Points: Total nonfarm payroll employment rose by 235,000 in August as the unemployment rate fell 0.2% to 5.2%. Consensus among economists was a gain of 720,000 jobs. This is the seventh month of job gains after payrolls fell steeply in December. Nonfarm employment is down by 5.7 Million from pre-pandemic levels in February 2020. […]

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U.S. HOME PRICES HIT RECORD HIGH IN JUNE

Key Points: U.S. home prices rose to record highs in June. The S&P CoreLogic Case-Shiller National Home Price Index, which measures average home prices in major metropolitan areas across the nation, rose 18.6% in the year that ended in June. The 20-City Composite posted a 19.1% year-over-year gain, up from 17.1% in the previous month. […]

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CONSUMER CONFIDENCE FALLS TO LOWEST LEVEL SINCE FEBRUARY

Key Points: Consumer confidence fell 11.3 points in August to 113.8, the lowest since February 2021. Consumer confidence also fell in July and was revised downward to 125.1. The Present Situation Index, based on consumers’ assessment of current business and labor market conditions, fell to 147.3 from 157.2 last month. The Expectations Index, based on […]

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U.S. CONSUMER SPENDING AND INCOME ROSE IN JULY

Key Points: U.S. consumer spending rose by 0.3% in July, matching economists’ expectations. Personal income increased by 1.1%, or by $225.9 Billion, in July. The overall personal consumption expenditures price index rose 0.4% in July and is up 4.2% from a year prior. The core personal consumption expenditures price index, which excludes food and energy, […]

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U.S. EXPANSION SLOWED IN AUGUST

Key Points: U.S. factories and service providers reported sharply slower growth in August, according to IHS Markit in its surveys of purchasing managers. The Composite Purchasing Managers Index (PMI) captures business conditions in the manufacturing and service sectors. A reading above 50 suggests the economy is growing. Composite PMI fell to 55.4, down from 59.9 […]

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UNEMPLOYMENT FALLS IN 17 STATES AND DC IN JULY

Key Points: Unemployment rates fell in 17 states and the District of Columbia and remained stable in 33 states in July. The U.S. unemployment rate fell by 0.5% over the month to 5.4%, and is 4.8% lower than June 2020. 13 states and the District of Columbia have unemployment rates above the U.S. average. Nebraska […]

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RETAIL SALES FALL BY 1.1% IN JULY

Key Points: Retail sales, a measure of purchases at stores, restaurants and online, fell by 1.1% in July over the month. Consensus among economists was a 0.3% decline. Excluding autos, retail sales fell by 0.4% over the month. June’s retail sales were revised from a 0.6% gain to a 0.7% gain. The Right Facts will […]

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CONSUMER SENTIMENT FALLS 13.5% FROM JULY

Key Points: Consumers reported a stunning loss of confidence in the first half of August. The Consumer Sentiment Index fell by 13.5% from July, to a level that was just below the April 2020 low of 71.8. This was well below consensus of an 81.2 reading and the 7th highest drop in the last 50 […]

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CONSUMER PRICES UP 0.5% IN JULY, 5.4% IN LAST YEAR

!function(e,i,n,s){var t=”InfogramEmbeds”,d=e.getElementsByTagName(“script”)[0];if(window[t]&&window[t].initialized)window[t].process&&window[t].process();else if(!e.getElementById(n)){var o=e.createElement(“script”);o.async=1,o.id=n,o.src=”https://e.infogram.com/js/dist/embed-loader-min.js”,d.parentNode.insertBefore(o,d)}}(document,0,”infogram-async”); Key Points: The Consumer Price Index (CPI) increased 0.5% in July after rising 0.9% in June. This was the largest 1-month change since June 2008 when the index rose 1.0%. CPI increased 5.4% from a year ago, the same reading as June and the largest 12-month increase since August 2008. The […]

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MILLIONS UNEMPLOYED DESPITE RECORD JOB OPENINGS

Key Points: The number of available jobs since May has outnumbered Americans looking for work. Job openings reached 10.1 million in June but there were 8.7 million people unemployed in July. The U.S. added 943,000 jobs in July but there were 5.7 million fewer jobs than there were in February 2020. June’s 10.1 million job […]

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GAS PRICES HAVE INCREASED $1 IN THE LAST YEAR

Key Points: Gas prices across the country continue to increase. Overall, the price of a gallon of regular gas has increased from $2.18 one year ago to $3.18 today. The price has increased $0.06 in the last month alone. California has the highest price at $4.38, followed by Hawaii at $4.08, and Nevada at $4.01. […]

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U.S. HOUSEHOLD SPENDING ROSE IN JUNE, PRICES CONTINUE TO RISE

Key Points: U.S. consumer spending rose by 1% in June, beating economists’ expectations of a 0.7% increase. Personal income increased by 0.1%, or by $26.1 Billion, in June. The overall personal consumption expenditures price index rose 0.5% in June and is up 4.0% from a year prior. The core personal consumption expenditures price index, which […]

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COMPOSITE PMI FALLS TO 4 MONTH LOW

Key Points: The Composite Purchasing Managers Index (PMI) captures business conditions in the manufacturing and service sectors. The Composite PMI decreased to 59.7 in July from 63.7 in June, a 4 month low. Manufacturing PMI increased to 63.1 in July from 62.1 in June. Services PMI decreased to 59.8 in July from 64.6 in June. […]

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UNEMPLOYMENT RATES FALL IN 7 STATES IN JUNE

Key Points: Unemployment rates fell in 7 states and the District of Columbia, rose in 3 states, and remained stable in 40 states in June. The U.S. unemployment rate rose by 0.1% over the month to 5.9%, and is 5.2% lower than June 2020. 16 states and the District of Columbia have unemployment rates above […]

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RETAIL SALES UNEXPECTEDLY RISE 0.6% IN JUNE

Key Points: Retail sales, a measure of purchases at stores, restaurants and online, rose by 0.6% in June over the month. Consensus among economists was a 0.4% decline. Spending on autos fell by 2.0% over the month. May’s retail sales were revised from a 1.3% decline to a 1.7% decline. Excluding automobiles, gasoline, building materials […]

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CONSUMER PRICES RISE 0.9% IN JUNE, UP 5.4% FROM A YEAR AGO

!function(e,i,n,s){var t=”InfogramEmbeds”,d=e.getElementsByTagName(“script”)[0];if(window[t]&&window[t].initialized)window[t].process&&window[t].process();else if(!e.getElementById(n)){var o=e.createElement(“script”);o.async=1,o.id=n,o.src=”https://e.infogram.com/js/dist/embed-loader-min.js”,d.parentNode.insertBefore(o,d)}}(document,0,”infogram-async”); Key Points: The Consumer Price Index (CPI) increased 0.9% in June after rising 0.6% in May. This was the largest 1-month change since June 2008 when the index rose 1.0%. CPI increased 5.4% from a year ago, the largest 12-month increase since August 2008. Used cars and trucks rose 10.5% in […]

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U.S. ADDS 850,000 JOBS IN JUNE, UNEMPLOYMENT RATE RISES SLIGHTLY

Key Points: Total nonfarm payroll employment rose by 850,000 in June as the unemployment rate increased 0.1% to 5.9%. This is the fifth month of job gains after payrolls fell steeply in December. Nonfarm employment is down by 6.8 Million from pre-pandemic levels in February 2020. Employment in leisure and hospitality increased by 343,000, as […]

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DECADES OF TRADE DEALS, MINIMAL ECONOMIC BENEFITS

Key Points: The new U.S. International Trade Commission (ITC) report looks at trade deals approved since 1984, including the North American Free Trade Agreement in 1994, the World Trade Organization in 1995, and a series of bilateral and regional trade agreements over the past 20 years. It also examined the one-year-old U.S.-Canada-Mexico Agreement, which replaced […]

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UNEMPLOYMENT FALLS IN 21 STATES IN MAY

Key Points: Unemployment rates fell in 21 states and the District of Columbia, rose in 1 state, and remained stable in 28 states in May. The U.S. unemployment rate fell by 0.3% over the month to 5.8%, and is 7.5% lower than May 2020. 12 states and the District of Columbia have unemployment rates above […]

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U.S. HOME PRICES HIT RECORD HIGH, UP 24% IN LAST YEAR

Key Points: Existing home sales continue to trend down as the housing supply falls short of demand, increasing costs. Existing home sales fell 0.9% for the fourth consecutive month in May to 5.8 million. The median existing home sales price rose 23.6% in the last year, the highest increase on record. The median home price […]

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RETAIL SALES FALL 1.3% IN MAY

Key Points: Retail sales, a measure of purchases at stores, restaurants and online, fell by 1.3% in May over the month. Consensus among economists was a 0.8% decline. Consumers spent less on autos, furniture, electronics, building materials, and other items in May. Spending at restaurants and bars rose 1.8% over the month, sending food-service sales […]

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U.S. ADDS 559,000 JOBS IN MAY, MISSING EXPECTATIONS

Key Points: Total nonfarm payroll employment rose by 559,000 in May as the unemployment rate fell by 0.3% to 5.8%. This is the fifth month of job gains after payrolls fell steeply in December. Nonfarm employment is down by 7.6 Million, or 5.0%, from pre-pandemic levels in February 2020. Employment in leisure and hospitality increased […]

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U.S. HOME PRICES HIT RECORD HIGH, UP 19.1% SINCE APRIL 2020

Key Points: Existing home sales continue to trend down as the housing supply falls short of demand, increasing costs. The median existing home sales price rose 19.1% in the last year, the highest increase on record. April’s median home price of $341,600 is also the highest median price on record. Existing home sales fell 2.7% […]

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APRIL UNEMPLOYMENT RATES DOWN IN 12 STATES AND D.C.

Key Points: Unemployment rates fell in 12 states and the District of Columbia, and remained stable in 38 states in April. The U.S. unemployment rate remained mostly stable over the month at 6.1%, and is 8.7% lower than April 2020. 11 states and the District of Columbia have unemployment rates above the U.S. average. Nebraska, […]

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GAS PRICES HIT HIGHEST LEVELS IN 6 YEARS

Key Points: Gas prices across the country continue to increase. Overall, the price of a gallon of regular gas has increased from $1.88 one year ago to $3.04 today. The price has increased $0.17 in the last month alone. California has the highest price at $4.14, followed by Hawaii at $3.87, and Nevada at $3.59. […]

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CONSUMER PRICES UP 4.2% YEAR-OVER-YEAR

!function(e,i,n,s){var t=”InfogramEmbeds”,d=e.getElementsByTagName(“script”)[0];if(window[t]&&window[t].initialized)window[t].process&&window[t].process();else if(!e.getElementById(n)){var o=e.createElement(“script”);o.async=1,o.id=n,o.src=”https://e.infogram.com/js/dist/embed-loader-min.js”,d.parentNode.insertBefore(o,d)}}(document,0,”infogram-async”); Key Points: The Labor department reported its consumer price index jumped 0.8% in April from March. Consensus among economists was 0.2% increase. CPI has increased 4.2% from the previous year, the highest 12 month increase since the summer of 2008. Used autos surged 10% in April from March, the highest monthly […]

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U.S. ADDS ONLY 266K JOBS IN APRIL

Key Points: Total nonfarm payroll employment rose by 266,000 in April as the unemployment rate rose by 0.1% to 6.1%. This is the fourth month of job gains after payrolls fell steeply in December. Nonfarm employment is down by 8.2 Million, or 5.4%, from pre-pandemic levels in February 2020. Employment in leisure and hospitality increased […]

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MANUFACTURING PMI AT 60.7 IN APRIL

Key Points: The Manufacturing Purchasing Managers Index (PMI) captures business conditions in the manufacturing sector. Readings above 50 imply the economy is expanding while readings below 50 imply economic contraction. Manufacturing PMI decreased to 60.7 in April from 64.7 in March. The 2.03 loss exceeded the consensus among economists of a 0.3 gain. This figure […]

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U.S. HOUSEHOLD INCOME SURGED BY 21.1% IN MARCH

Key Points: Household income rose at a record pace of 21.1%, or $4.21 trillion, in March, fueled by federal stimulus checks. The surge in income last month was the largest monthly increase on record tracing back to 1959. Consumer spending also increased 4.2% in March. This was the steepest monthly increase since last summer. The […]

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BIDEN PROPOSING A 43.4% CAPITAL GAINS RATE

Key Points: The Biden administration proposed to increase the capital gains tax rate from 20% for most assets held for at least a year, to 39.6% for people making more than $1 million. Capital gains are also subject to the 3.8% Medicare tax, bringing the new capital gains rate to 43.4%. The current top rate […]

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LOCKDOWN STATES FACING HIGHER UNEMPLOYMENT

Key Points: Unemployment rates fell in 20 states and the District of Columbia, and remained stable in 30 states in March. The U.S. unemployment rate fell by 0.2% over the month to 6.0%, but is still 1.6% higher than March 2020. 19 states and the District of Columbia have unemployment rates above the U.S. average. […]

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LOCKDOWN STATES FUELING SURGE IN COVID CASES

Key Points: COVID restrictions in some parts of the country continue to be lifted as the daily average cases per day have increased by 11% in the last 2 weeks. However, the states where cases are increasing are not the states that lifted restrictions. The top 10 states by cases per capita over the last […]

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CONSUMER PRICES SURGE BY 0.6% IN MARCH, MOST SINCE AUGUST 2012

Key Points: The consumer price index rose 0.6% in March from February, accelerating costs from last month’s 0.4% increase. This is the highest monthly increase since August 2012. Prices jumped 2.6% year over year, up from a 1.7% annual increase in February. Gasoline prices rose 9.1% in March, accounting for nearly half of the index’s […]

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MURDERS UP 150% IN CHICAGO LAST WEEK

Key Points: Chicago Police Department statistics continue to show a spike in murders and shootings in 2021 compared to the same time period in 2020. As of March 28, Chicago has 565 shootings and 129 murders. At the same time last year, Chicago had 407 shootings and 97 murders. In the week of March 22nd […]

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U.S. ADDS 916K JOBS IN MARCH

Key Points: Total nonfarm payroll employment improved in March, adding 916,000 jobs as the unemployment rate fell by 0.2% to 6.0%. This is the third month of job gains after payrolls fell steeply in December. Job growth was widespread in March, led by gains in leisure and hospitality, public and private education, and construction. Employment […]

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BREAKING DOWN THE BIDEN INFRASTRUCTURE BILL

Key Points: The Biden Administration unveiled a $2 Trillion infrastructure package on Wednesday. The proposal would be paid for over the next 15 years by raising the corporate tax rate to 28% from 21% and increasing taxes on companies’ foreign earnings. The proposal includes $621 billion to modernize transportation infrastructure, $400 billion to help care […]

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MORE THAN 1/3 OF ALL SCHOOL DISTRICTS ARE FULLY IN-PERSON

Key Points: Return to Learn has launched a new tracker that measures schools returning to in-person learning across the country. As of March 15, the data shows that 37% of school districts have resumed in-person learning, 54% have hybrid classes, and 9% are still entirely remote. Florida has returned to 100% in-person classes, followed by […]

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UNEMPLOYMENT RATES FALL IN 23 STATES IN FEBRUARY

Key Points: Unemployment rates fell in 23 states and the District of Columbia, higher in 4 states, and remained stable in 23 states in February. The U.S. unemployment rate remained mostly stable over the month to 6.2%, but is still 2.7% higher than February 2020. 12 states and the District of Columbia have unemployment rates […]

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U.S. DURABLE GOODS ORDERS FALL FOR FIRST TIME SINCE LAST APRIL

Key Points: Orders for durable goods fell in February as U.S. factories faced supply-chain challenges. Durable goods are products designed to last at least three years, such as computers and machinery. New orders for durable goods decreased 1.1% to $254 Billion in February from January. The previous nine months had recorded gains, following sharp declines […]

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RETAIL SALES FALL 3% IN FEBRUARY

Key Points: Retail sales, a measure of purchases at stores, restaurants and online, fell by 3% in February over the month. January sales were revised to 7.6%, up from the earlier estimate of a 5.3% increase. Consumers spent less on autos, furniture, electronics, home improvement, healthcare and clothing in February. Sales at gas stations were […]

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UNEMPLOYMENT RATES FALL IN 33 STATES IN JANUARY

Key Points: Unemployment rates fell in 33 states and remained stable in 17 states and the District of Columbia in January. The U.S. unemployment rate fell by 0.4% over the month to 6.3%. 19 states and the District of Columbia have unemployment rates above the U.S. average. South Dakota and Utah have the lowest rates […]

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CONSUMER SENTIMENT RISES TO HIGHEST LEVEL IN A YEAR

Key Points: The Michigan Consumer Sentiment Index released by the University of Michigan is a survey of personal consumer confidence in economic activity. 78.5 was the consensus among economists, but in actuality the Index increased to 83.0 in early March. The largest monthly gains were concentrated among households in the bottom third of the income […]

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U.S. ADDS 379K JOBS IN FEBRUARY

Key Points: Total nonfarm payroll employment improved in February, adding 379,000 jobs as the unemployment rate fell by 0.1% to 6.2%. This is the second month of job gains after payrolls fell steeply in December. Employment in leisure and hospitality increased by 355,000 jobs in February, led by food services and drinking places increasing by […]

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15.6% OF U.S. HAS RECEIVED AT LEAST ONE COVID-19 VACCINE DOSE

Key Points: Operation Warp Speed delivered COVID-19 vaccines in record time. Now, the vaccine distribution is underway. In the U.S., 78.6 Million doses have been administered of the 102.4 Million doses distributed. 15.6% of the U.S. population has received at least one dose and 7.9% has been fully vaccinated. The U.S. 7-day average daily rate […]

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MANUFACTURING SECTOR CONTINUES GROWTH IN FEBRUARY

Key Points: The Manufacturing Purchasing Managers Index (PMI) captures business conditions in the manufacturing sector. Manufacturing PMI increased to 60.8 in February from 58.7 in January. The 2.1 gain exceeded the consensus among economists of a 0.86 increase. This figure is the highest since September 2018 and indicates expansion in the overall economy for the […]

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PPP SAVED 55 MILLION JOBS

KEY POINTS: Last year, congress delivered more than $1 billion in small business relief, including more than $800 billion for PPP during COVID-19. According to the Census Bureau, nearly 75 percent of all small businesses in the entire country received a PPP loan. Businesses receiving PPP loans report retaining over 55 million jobs. The first […]

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PPP INJECTED $525 BILLION INTO THE U.S. ECONOMY

KEY POINTS: The Biden Administration is considering numerous changes to the Paycheck Protection Program (PPP). It is important to highlight the impact of the Paycheck Protection Program during the COVID-19 pandemic. Senator Marco Rubio (R-FL) recently explained the success of the PPP program he co-authored as Chairman of the U.S. Senate Committee on Small Business […]

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FLORIDA IS NAVIGATING THE PANDEMIC BETTER THAN MOST STATES

Key Points: Florida has taken criticism for not implementing strict lockdowns like many states because of their large senior population, who are more at risk from COVID. However, the data suggest Florida is navigating the pandemic better than most states. Florida has a lower COVID mortality rate for seniors than New York, California, and the […]

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A $15 MINIMUM WAGE WOULD COST 1.3 MILLION JOBS

Key Points: The nonpartisan Congressional Budget Office found in a 2019 study that raising the federal minimum wage to $15 an hour by 2025 could cost 1.3 million Americans their jobs. The leisure and hospitality industry comprised 37.3% of all federal minimum wage workers in 2019, 22.8% from retail, and 14.1% from education and health […]

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CONSUMER SENTIMENT UNEXPECTEDLY FALLS TO SIX-MONTH LOW

Key Points: The Consumer Sentiment Index released by the University of Michigan is a survey of personal consumer confidence in economic activity. Consumer sentiment expected to rise to 80.8, but in reality fell to 76.2. The entire loss in sentiment was concentrated in the Expectation Index and among households with incomes below $75,000. Consumer sentiment […]

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SMALL BUSINESS OPTIMISM UNEXPECTEDLY FALLS IN JANUARY

Key Points: The NFIB Small Business Optimism Index declined in January to 95.0, down 0.9 from December. January’s index is 3.0 points below the 47-year average of 98. Consensus among economists on the January index was an increase to 98.7. Owners expecting better business conditions over the next six months declined to the lowest level […]

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U.S. UNEMPLOYMENT RATE FALLS TO 6.3%, ADDS ONLY 49K JOBS IN JANUARY

Key Points: Total nonfarm payroll employment rebounded slightly in January, adding 49,000 jobs as the unemployment rate fell by 0.4% to 6.3%. The January gains came after payrolls fell steeply in December. Employment in leisure and hospitality declined by 61,000 jobs in January, employment in healthcare declined by 30,000, employment in the amusements, gambling, and […]

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BIGGER STIMULUS CHECKS GO TOWARDS HIGHER INCOME HOUSEHOLDS

Key Points: Congress and the White House are debating “check amounts” for a new round of stimulus. Bigger checks inevitably reach higher-income households. The chart above shows how a 5% phase-out rate for a hypothetical family of four with two kids, with a $150,000 income threshold. For the family of four, giving households $1400 rather […]

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NEW YORK STATE LOST 1 MILLION JOBS IN 2020

Key Points: New York has imposed some of the strictest lockdowns to combat the spread of COVID-19. However, data shows New York is still facing more dramatic health and economic crises than the rest of the country. State level unemployment shows that New York has one of the highest unemployment rates in the country at […]

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SOUTH DAKOTA’S UNEMPLOYMENT RATE LOWER THAN PRE-PANDEMIC

Key Points: South Dakota has faced harsh criticism for not imposing COVID lockdowns across the state. However, data shows South Dakota is not seeing health or economic crises like the rest of the country. State level unemployment shows that South Dakota has the lowest unemployment rate in the country, tied with Nebraska at 3.0%. This […]

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U.S. RETAIL SALES FELL 0.7% IN DECEMBER

Key Points: Retail sales dropped 0.7% in December for the third consecutive monthly decline. Excluding auto and gasoline sales, retail sales fell by 2.1%. December typically marks the peak of the holiday shopping season, but this year businesses are reporting mixed sales results. The report followed last week’s employment release showing a decline in jobs […]

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WESTERN U.S. WILL FOOT THE BILL FOR BIDEN’S DRILLING BAN

Key Points: President-Elect Joe Biden has pledged to eliminate oil-and-gas permitting on federal lands. The ban would eliminate more than 72,000 jobs per year over the next four years, reaching around 351,555 in total between 2036 and 2040. Western states, including Wyoming, New Mexico, Colorado, Utah, Montana, North Dakota, California, and Alaska, would be most […]

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U.S. LOST 140,000 JOBS IN DECEMBER

Key Points: Total nonfarm payroll employment declined by 140,000 in December, and the unemployment rate was unchanged at 6.7%. December’s decline ended 7 months of consecutive job growth. Employment in leisure and hospitality declined by 498,000, employment in the amusements, gambling, and recreation industry declined by 92,000, Government employment declined by 45,000, and the accommodation […]

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MANUFACTURING PMI SMASHES EXPECTATIONS

Key Points: The Manufacturing Purchasing Managers Index (PMI) captures business conditions in the manufacturing sector. Readings above 50 imply the economy is expanding while readings below 50 imply economic contraction. Manufacturing PMI increased to 60.7 in December from 57.5 in November. The 3.2 gain exceeded the consensus among economists of a 0.9 decline. This figure […]

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MURDERS UP 62% IN ATLANTA IN 2020

Key Points: Violent crime surged across the country in 2020 compared to 2019. As of December 26, Atlanta has had 692 shooting incidents and 154 murders. At the same point in time last year, Atlanta had 480 shootings and 95 murders. In the last month alone, 19 people were murdered and 74 people were shot, […]

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UNEMPLOYMENT RATES FALL IN 25 STATES IN NOVEMBER

Key Points: Unemployment rates fell in November in 25 states, rose in 7 states, and remained stable in 18 states as the U.S. unemployment rate fell by 0.2% points over the month to 6.7%. 26 states have unemployment rates below the U.S. average. New Jersey has the highest unemployment rate at 10.2%, followed by Hawaii […]

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OPERATION WARP SPEED DELIVERS COVID-19 VACCINE IN RECORD TIME

Key Points: The U.S. Food and Drug Administration’s authorized Pfizer’s COVID-19 vaccine on Friday, following its record-setting swift development. The vaccine was approved after a 44,000-person study showed the vaccine was 95% effective at preventing symptomatic COVID-19. This was the fastest development of a vaccine ever recorded, due to Operation Warp Speed. Operation Warp Speed […]

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ONLY 9 STATES CONSISTENTLY RUN BUDGET DEFICITS

Key Points: Lawmakers are contemplating providing financial assistance to state and local governments in the next stimulus bill. Over the past decade, most states balanced budgets or ran surpluses. Some, however, did not. The map shows how many annual budget deficits each state ran between 2004 and 2018. Persistent deficits as well as unforeseeable events […]

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LOS ANGELES HOMICIDES UP 28.9%, ARRESTS DOWN 27.4%

Key Points: Violent Crime in Los Angeles continues to spike as arrests plummet in 2020. Homicides are up 28.9% in 2020, auto theft is up 35.7%, and Shooting victims are up 33.2% from last year. Meanwhile, total arrests are down 27.4% and arrests for violent crimes is down 12.4%. Notably, arrests for rape are down […]

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U.S. UNEMPLOYMENT RATE DROPS TO 6.7% IN NOVEMBER

Key Points: The U.S. unemployment rate fell to 6.7% as the economy adds 245,000 jobs in November. Consensus among economists was a 0.1% decline, but in reality the decline was 0.2%. This is the seventh consecutive monthly decline in unemployment. Unemployment rate is now 8% lower than April’s peak.

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U.S. DURABLE GOODS ORDERS JUMP 1.3%, EXCEEDING EXPECTATIONS

Key Points: Manufacturers’ new orders for durable goods rose 1.3% in October, exceeding economists expectations of 0.9%. This is the 6th consecutive month of gains, indicating demand and recovery in the manufacturing sector. Shipments for durable goods also rose by 1.3% and are now 0.6% above pre-pandemic levels. The Right Facts will continue to monitor […]

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MANUFACTURING SENTIMENT HIGHEST IN MORE THAN 6 YEARS

Key Points: The Manufacturing Purchasing Managers Index (PMI) captures business conditions in the manufacturing sector. Readings above 50 imply the economy is expanding while readings below 50 imply economic contraction. Manufacturing PMI increased to 56.7 in November from 53.4 in October. The 3.7 gain exceeded the consensus among economists of a 0.3 decline. This is […]

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UNEMPLOYMENT RATES FELL IN 37 STATES IN OCTOBER

Key Points: Unemployment rates fell in October in 37 states, rose in 8 states, and remained stable in 5 states as the U.S. unemployment rate fell by 1.0% points over the month to 6.9%. Hawaii still has the highest unemployment rate at 14.3%, followed by Nevada at 12.0%, and New York at 9.6%. Nebraska still […]

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SHOOTINGS UP 114% LAST WEEK IN CHICAGO

Key Points: Chicago Police Department statistics continue to show a spike in murders and shootings in 2020 compared to the same time period in 2019. As of November 8, Chicago has 2,846 shootings and 676 murders. At the same time last year, Chicago had 1,870 shootings and 441 murders. In the week of November 2nd […]

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REJOINING PARIS CLIMATE ACCORD WOULD COST 40,000 JOBS

Key Points: Presidential nominee Joe Biden has announced that he would rejoin the Paris climate accord on Day 1 if he wins the White House. Analysis from the Heritage Foundation found that rejoining this agreement would have massive impacts on the economy, including: An overall loss of nearly 400,000 jobs, half of which would be […]

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U.S. GDP LOSS FORECASTS LOWEST OF G7 NATIONS

Key Points: COVID-19 hit every major economy around the world, but the U.S. has experienced the least economic contraction of any G7 nation. U.S. GDP is expected to decline by the lowest of any G7 country at 3.6% in 2020, followed by Japan at 5.3%, and Germany at 6.0%. Italy is expected to decline by […]

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U.S. GDP GREW 33.1% IN THIRD QUARTER, SURPASSING ESTIMATES

Key Points: Gross Domestic Product (GDP) measures total goods and services produced in the U.S.. The GDP fell 31.4% in the second quarter due to COVID-19. Now, the Commerce Department reported the GDP expanded 33.1% in the third quarter, surpassing economists’ consensus of 32%. This is the largest gain on record, surpassing the 16.7% burst […]

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