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The Data that Drives Policy Lives Here.

CONSUMER SPENDING SLOWED IN MAY

Key Points: U.S. consumer spending rose by 0.2%, or $32.7 Billion, in May, down from 0.6% in April. Personal income increased by 0.5%, or $113.4 Billion, in May, the same reading as April. The overall personal consumption expenditures price index rose 0.6% in May and is up 6.3% from a year prior. The core personal […]

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HOME PRICES UP 20.4% IN LAST YEAR

Key Points: The S&P CoreLogic Case-Shiller National Home Price Index, which measures average home prices in major metropolitan areas across the nation, rose 20.4% in the year that ended in April, down from 20.6% in the previous month. The 20-City Composite posted a 21.2% year-over-year gain, up from 21.1% in the previous month. The 10-City […]

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INFLATION UPTICK BEGAN BEFORE RUSSIA INVADED UKRAINE

Key Points: Despite claims by the current administration that inflation is caused by the Russian invasion of Ukraine, dubbed the “Putin Price Hike”, which was used as recently as June 22, data show the rise in prices began much earlier. As the chart shows, there was an uptick in inflation starting in January of 2021, […]

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9 STATES SET SERIES LOW UNEMPLOYMENT RATES IN MAY

Key Points: Unemployment rates fell in 16 states and remained stable in 34 states and the District of Columbia in May. The U.S. unemployment rate was unchanged again over the month at 3.6% in May. 9 states and the District of Columbia have unemployment rates above the U.S. average. Nebraska has the lowest unemployment rate […]

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RETAIL SALES FALL AS PRICES RISE

Key Points: Retail sales, a measure of purchases at stores, restaurants and online, fell by 0.3% in May as inflation reached its highest level in more than 40 years. Consensus among economists was a 0.2% increase. May’s 0.3% decline comes after April was revised down to 0.7% from 0.9%. Excluding autos, retail sales rose by […]

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S&P 500, DOW JONES, AND NASDAQ LOSE ALL GAINS UNDER BIDEN

Key Points: The S&P 500 closed down 151 points at 3,749.84 on Monday, notably below the 3,798.91 level, which is where it closed on Jan. 19, 2021. The Dow Jones index also fell below the pre-inauguration levels of 31,930 to 30,516 on Monday. The Nasdaq index fell below the pre-inauguration levels of 13,197 long ago. […]

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FOOD AND ENERGY PUSHING INFLATION TO 40 YEAR HIGH

Key Points: The Consumer Price Index (CPI) increased 1.0% in May and is up 8.6% in the last year, the highest reading since 1981. Price increases in the last year have been broad, impacting businesses and consumers. The overall food index rose 10.1%, food at home rose 11.9%, and food away from home rose 7.4% […]

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AVERAGE GAS PRICES TOP $5 FOR THE FIRST TIME EVER

Key Points: The national average price of a gallon of gas has surpassed $5 for the first time ever. Overall, the price of a gallon of regular gas has increased from $3.08 one year ago to $5.01 today. The price of gas has increased $0.15 in the last week, $0.58 in the last month, and […]

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INFLATION REACHES FOUR-DECADE HIGH

Key Points: The Consumer Price Index (CPI) increased 1.0% in May after rising 0.3% in April. CPI increased 8.6% from a year ago, the highest reading since December 1981. Prices remained above 5% for the twelfth straight month. The core CPI, which excludes food and energy, rose 0.6% in May and is up 6% from […]

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GAS PRICES HAVE DOUBLED SINCE BIDEN TOOK OFFICE

Key Points: The national average price of a gallon of gas has consistently increased to the highest level on record at $4.87. Gas prices have doubled since Biden was inaugurated on Jan 20, 2021 when gas prices were $2.39. Overall, the price of a gallon of regular gas has increased from $3.05 one year ago […]

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JOB GROWTH SLOWED IN MAY

Key Points: Total nonfarm payroll employment rose by 390,000 in May as the unemployment rate was unchanged at 3.6%. Consensus among economists was a gain of 325,000 jobs. May’s job growth is the lowest since April 2021. In May, the unemployed population was essentially unchanged at 5.95 million but there were 11.4 million job openings […]

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LABOR SHORTAGE PERSISTS IN APRIL

Key Points: The number of available jobs since May 2021 continues to outnumber Americans looking for work. Job openings slipped to 11.4 million in April after reaching a record high 11.9 million in March. The U.S. added 428,000 jobs in April but there were 5.9 million people unemployed. In March, the number of hires was […]

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SPENDING ROSE IN APRIL DESPITE HIGH INFLATION

Key Points: U.S. consumer spending rose by 0.9%, or $152.3 Billion, in April. Personal income increased by 0.4%, or $89.3 Billion, in April. The overall personal consumption expenditures price index rose 0.2% in April and is up 6.3% from a year prior. The core personal consumption expenditures price index, which excludes food and energy, rose […]

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NEW HOME SALES PLUNGE IN APRIL

Key Points: New home sales fell 16.6% in April from March to a seasonally adjusted 591K. Consensus among economists was a 3.4% drop. New home sales dropped for the fourth consecutive month. March sales were also revised down to 709K from 763K. The volume of new single‐family home sale are down 16.6% from the March […]

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10 STATES AND D.C. HAVE UNEMPLOYMENT RATES ABOVE U.S. AVERAGE

Key Points: Unemployment rates fell in 13 states and the District of Columbia and remained stable in 37 states in April. The U.S. unemployment rate was unchanged over the month at 3.6% in April. 10 states and the District of Columbia have unemployment rates above the U.S. average. Nebraska and Utah have the lowest unemployment […]

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GAS PRICES BREAK RECORD HIGHS FOR PAST 11 DAYS

Key Points: The national average price of a gallon of gas has increased to the highest level on record for the 11th consecutive day to $4.59. For the first time ever, every state has gas prices above $4. Gas prices have hit new record highs every day since May 9th. This recent trend comes after […]

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BUILDER CONFIDENCE PLUNGES IN MAY

Key Points U.S. builder confidence fell in May due to rapidly rising interest rates combined with the ongoing home price increases and construction costs, according to NAHB. The NAHB Housing Market index declined to a reading of 69 this month from 77 in April. This is the fifth consecutive month that builder sentiment has declined […]

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RETAIL SALES RISE IN APRIL DESPITE RECORD INFLATION

Key Points: Retail sales, a measure of purchases at stores, restaurants and online, rose by 0.9% in April for the fourth straight month, as inflation held close to its highest level in 40 years. Consensus among economists was a 0.7% increase. April’s 0.9% increase comes after March’s revised 1.4% increase. Excluding autos, retail sales rose […]

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INFLATION REMAINS HIGH IN APRIL, LED BY FOOD AND ENERGY

Key Points: The Consumer Price Index (CPI) increased 0.3% in April and is up 8.3% in the last year, down slightly from March’s 8.5%, the highest rate since 1982. Price increases in the last year have been broad, impacting businesses and consumers. The overall food index rose 9.4%, food at home rose 10.8%, and food […]

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INFLATION EASED SLIGHTLY IN APRIL

Key Points: The Consumer Price Index (CPI) increased 0.3% in April after rising 1.2% in March. CPI increased 8.3% from a year ago, down from 8.5% in the year ending in March. Prices remained above 5% for the eleventh straight month. The core CPI, which excludes food and energy, rose 0.6% in April and is […]

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GAS PRICES HIT NEW ALL-TIME HIGH

Key Points: The national average price of a gallon of gas has increased to the highest level on record. Today’s $4.37 has surpassed the all-time U.S. average record of $4.32 from March 2022. Overall, the price of a gallon of regular gas has increased from $2.97 one year ago to $4.17 today. The price of […]

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U.S. ADDS 428K JOBS IN APRIL

Key Points: Total nonfarm payroll employment rose by 428,000 in April as the unemployment rate was unchanged at 3.6%. In April, the unemployed population was essentially unchanged at 5.9 million but there were 11.5 million job openings in March. Employment in leisure and hospitality added 78,000 jobs, manufacturing increased by 55,000, transportation and warehousing rose […]

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JOB OPENINGS HIT RECORD HIGH IN MARCH

Key Points: The number of available jobs since May continues to outnumber Americans looking for work. Job openings increased to 11.5 million in March, a record high, but there were 6 million people unemployed. Job openings are up from 11.3 million in February and above the consensus of 11 million for March. The U.S. added […]

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DIESEL GAS HITS ALL TIME HIGH

Key Points: The national average price of a gallon of diesel gas has increased to the highest level on record. Today’s $5.32 has surpassed the all-time U.S. average record. Overall, the price of a gallon of diesel gas has increased from $3.09 one year ago to $5.32 today. The price of a gallon of diesel […]

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SPENDING, INCOME, AND PRICES ROSE IN MARCH

Key Points: U.S. consumer spending rose by 1.1%, or $185.0 Billion, in March. Personal income increased by 0.5%, or $107.2 Billion, in March. The overall personal consumption expenditures price index rose 0.9% in March and is up 6.6% from a year prior. The core personal consumption expenditures price index, which excludes food and energy, rose […]

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HOME PRICES INCREASED 19.8% IN LAST YEAR

Key Points: Home-price growth slowed slightly in September as sky-high prices deterred some buyers. The S&P CoreLogic Case-Shiller National Home Price Index, which measures average home prices in major metropolitan areas across the nation, rose 19.8% in the year that ended in February, up from 19.1% in the previous month. The 20-City Composite posted a […]

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U.S. HOME PRICES REACHED RECORD HIGH IN MARCH

Key Points U.S. home prices reached a record $375,300 in March as mortgage-interest rates rose and the shortage of homes for sale continued. Existing-home sales fell 2.7% in March from February to a seasonally adjusted annual rate of 5.77 million, the National Association of Realtors said Wednesday. Existing-home sales fell 4.5% in March from a […]

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U.S. HOMEBUILDER CONFIDENCE CONTINUES TO FALL

Key Points U.S. homebuilder confidence fell in April due to rapidly rising interest rates combined with the ongoing home price increases and construction costs, according to NAHB. The NAHB Housing Market index declined to a reading of 77 this month from 79 in March. This is the fourth consecutive month that builder sentiment has declined. […]

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REAL WAGES CONTINUE TO DECLINE SINCE JANUARY 2021

Key Points: Real average hourly earnings are hourly earnings adjusted for inflation. They are one measure of real wages, which represent the economic return to work. Despite trending up between January 2017 and January 2021, real wages have trended down since January 2021. Real average hourly earnings have fallen from $32.63 in March 2021 to […]

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RETAIL SALES MISS EXPECTATIONS

Key Points: Retail sales, a measure of purchases at stores, restaurants and online, rose by 0.5% in March over the month. Consensus among economists was a 0.6% increase. March’s 0.5% increase comes after February’s revised 0.8% increase. Excluding autos, retail sales rose by 1.1% over the month. Spending slowed in part due to rising costs […]

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INFLATION ACCELERATED IN MARCH, HITS NEW 40 YEAR HIGH

Key Points: The Consumer Price Index (CPI) increased 1.2% in March after rising 0.8% in February. CPI increased 8.5% from a year ago, the highest reading in 40 years. Prices remained above 5% for the tenth straight month. The core CPI, which excludes food and energy, rose 0.3% in March and is up 6.5% from […]

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US ADDS 431K JOBS IN MARCH

Key Points: Total nonfarm payroll employment rose by 431,000 in March as the unemployment rate fell to 3.6%. Consensus among economists was a gain of 490,000 jobs. In March, the unemployed population fell to 6 million but there were 11.3 million job openings in February. Employment in leisure and hospitality added 112,000 jobs, professional and […]

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SPENDING ROSE 0.2% IN FEBRUARY, PRICES ROSE 0.6%

Key Points: U.S. consumer spending rose by 0.2%, or $34.9 Billion, in February. Personal income increased by 0.5%, or $101.5 Billion, in January. The overall personal consumption expenditures price index rose 0.6% in February and is up 6.4% from a year prior. The core personal consumption expenditures price index, which excludes food and energy, rose […]

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JOB OPENINGS REMAIN NEAR RECORD HIGHS

Key Points: The number of available jobs since May continues to outnumber Americans looking for work. Job openings increased slightly to 11.3 million in February but there were 6.3 million people unemployed in February. The U.S. added 678,000 jobs in February but there were 2.1 million fewer jobs than there were in February 2020. In […]

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RETAIL SALES SLOWED IN FEBRUARY

Key Points: Retail sales, a measure of purchases at stores, restaurants and online, rose by 0.3% in February over the month. Consensus among economists was a 0.4% increase. February’s 0.3% increase comes after January’s revised 4.9% increase. Excluding autos, retail sales rose by 0.2% over the month. Spending slowed in part due to rising costs […]

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INFLATION REMAINS HIGH ACROSS THE SPECTRUM

Key Points: The Consumer Price Index (CPI) increased 0.8% in February and is up 7.9% in the last year, the highest rate since 1982. Price increases in the last year have been broad, impacting businesses and consumers. The food at home index rose 8.6% over the past 12 months. The largest increase in food was […]

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REAL WAGES: SINCE JANUARY 2021, IN DECLINE

Key Points: Real average hourly earnings are hourly earnings adjusted for inflation. They are one measure of real wages, which represent the economic return to work. Despite trending up between January 2017 and January 2021, real wages have trended down since January 2021. Real average hourly earnings have fallen from $32.16 in February 2021 to […]

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INFLATION REACHED A NEW 40-YEAR HIGH IN FEBRUARY

Key Points: The Consumer Price Index (CPI) increased 0.8% in February after rising 0.6% in January. CPI increased 7.9% from a year ago, the highest reading in 40 years. Prices remained above 5% for the ninth straight month. The core CPI, which excludes food and energy, rose 0.6% in February and is up 6.4% from […]

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GAS PRICES HIT HIGHEST ON RECORD

Key Points: The national average price of a gallon of gas has increased to the highest level on record. Today’s $4.17 has surpassed the all-time U.S. average record of $4.11 from July 2008. Overall, the price of a gallon of regular gas has increased from $2.77 one year ago to $4.17 today. The price of […]

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U.S. ADDS 678,000 JOBS IN FEBRUARY

Key Points: Total nonfarm payroll employment rose by 678,000 in February as the unemployment rate fell to 3.8%. Consensus among economists was a gain of 150,000 jobs. Nonfarm employment is down by 2.1 Million, or 1.4%, from pre-pandemic levels in February 2020. Employment in leisure and hospitality added 179,000 jobs, professional and business services increased […]

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GAS PRICES SOAR, UP $1 FROM A YEAR AGO

Key Points: Gas prices across the country continue to increase. Overall, the price of a gallon of regular gas has increased from $2.73 one year ago to $3.73 today. The price of gas has increased $0.32 in the last month, $0.19 in the last week, and $0.07 since yesterday. Currently, every states has gas prices […]

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SPENDING AND PRICES ROSE IN JANUARY, INCOME FLAT

Key Points: U.S. consumer spending rose by 2.1%, or $337.2 Billion, in January. Personal income increased less than 0.1%, or $9.0 Billion, in January. The overall personal consumption expenditures price index rose 0.6% in January and is up 6.1% from a year prior. The core personal consumption expenditures price index, which excludes food and energy, […]

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STRIKING THE MATCH: INFLATION IN THE UNITED STATES

Key Points: As the chart shows, there was an uptick in inflation in January of 2021, when election results gave Democrats control of the Senate. This reflected growing anticipation, by market participants, of the inflationary effects of the agenda that Democrats were likely to pass. There was then an acceleration when Democrats implemented their legislative […]

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RETAIL SALES REBOUND IN JANUARY AFTER FALLING IN DECEMBER

Key Points: Retail sales, a measure of purchases at stores, restaurants and online, rose by 3.8% in January over the month. Consensus among economists was a 2.0% increase. January’s 3.8% increase comes after December’s revised 2.5% decrease. Excluding autos, retail sales rose by 3.3% over the month. Spending slowed in part due to rising costs […]

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INFLATION INCREASING PRICES ACROSS THE SPECTRUM

Key Points: The Consumer Price Index (CPI) increased 0.6% in January and is up 7.5% in the last year, the highest rate since 1982. Price increases in the last year have been broad, impacting businesses and consumers. The food at home index rose 7.4% over the past 12 months. The largest increase in food was […]

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GAS PRICES HIGHEST IN 8 YEARS

Key Points: Gas prices across the country continue to increase. Overall, the price of a gallon of regular gas has increased from $2.47 one year ago to $3.46 today. The price of gas has increased $0.16 in the last month and $0.08 in the last week. Gas prices have not been this high since 2014. […]

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U.S. ADDS 467K JOBS IN JANUARY, UNEMPLOYMENT RATE RISES TO 4.0%

Key Points: Total nonfarm payroll employment rose by 467,000 in January as the unemployment rate rose slightly to 4.0%. Consensus among economists was a gain of 150,000 jobs. Nonfarm employment is down by 2.9 Million, or 1.9%, from pre-pandemic levels in February 2020. Employment in leisure and hospitality added 151,000 jobs, professional and business services […]

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JOB OPENINGS CONTINUE TO OUTPACE UNEMPLOYED POPULATION

Key Points: The number of available jobs since May continues to outnumber Americans looking for work. Job openings decreased slightly to 10.9 million in December but there were 6.3 million people unemployed in December. The U.S. added 199,000 jobs in December but there were 3.6 million fewer jobs than there were in February 2020. In […]

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CONSUMER SPENDING FELL AS PRICES ROSE IN DECEMBER

Key Points: U.S. consumer spending fell by $95.2 billion or 0.6% in December. Personal income increased by 0.3%, or by $70.7 Billion, in December. The overall personal consumption expenditures price index rose 0.4% in December and is up 5.8% from a year prior. The core personal consumption expenditures price index, which excludes food and energy, […]

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HOME SALES FELL IN DECEMBER, PRICES UP 18.8% IN LAST YEAR

Key Points: Home-price growth slowed slightly in September as sky-high prices deterred some buyers. The S&P CoreLogic Case-Shiller National Home Price Index, which measures average home prices in major metropolitan areas across the nation, rose 18.8% in the year that ended in November, down from 19.0% in the previous month. The 20-City Composite posted an […]

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12 STATES SET RECORD LOW UNEMPLOYMENT RATES IN DECEMBER

Key Points: Unemployment rates fell in 42 states and the District of Columbia and remained stable in 8 states in December. The U.S. unemployment rate fell by 0.3% over the month to 3.9%. 17 states and the District of Columbia have unemployment rates above the U.S. average. Nebraska has the lowest unemployment rate at 1.7%, […]

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GAS PRICES REMAIN HIGH AMID INFLATION

Key Points: Gas prices across the country continue to increase. Overall, the price of a gallon of regular gas has increased from $2.40 one year ago to $3.33 today. Inflation has severely impacted energy costs, which are up 29.3% in 2021 alone, led by gasoline which increased by 49.6% in 2021. California has the highest […]

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INFLATION SOARED IN 2021

Key Points: The Consumer Price Index (CPI) increased 0.5% in December and is up 7.0% in the last year, the highest rate since 1982. Price increases in the last year have been broad, impacting businesses and consumers. The food at home index rose 6.5% over the past 12 months. The largest increase in food was […]

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RETAIL SALES FELL BY 1.9% IN DECEMBER

Key Points: Retail sales, a measure of purchases at stores, restaurants and online, fell by 1.9% in December over the month. Consensus among economists was a 0.1% decline. November’s retail sales were revised down to a 0.2% increase. Excluding autos, retail sales fell by 2.3% over the month. Spending slowed in part due to rising […]

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INFLATION HITS 40 YEAR HIGH

Key Points: The Consumer Price Index (CPI) increased 0.5% in December after rising 0.8% in November. CPI increased 7.0% from a year ago, the highest reading in 40 years. Prices remained above 5% for the seventh straight month. The core CPI, which excludes food and energy, rose 0.6% in December and is up 5.5% from […]

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U.S. JOB GROWTH SLOWS IN DECEMBER, ADDS JUST 199K JOBS

Key Points: Total nonfarm payroll employment rose by 199,000 in December as the unemployment rate fell 0.3% to 3.9%. Consensus among economists was a gain of 400,000 jobs. Nonfarm employment is down by 3.6 Million from pre-pandemic levels in February 2020. Employment in leisure and hospitality added 53,000 jobs, professional and business services increased by […]

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COVID-19 ORIGINS AND POLITICIZED SCIENCE

Download the report here. Questions about COVID-19’s origins have existed since the beginning of the pandemic. From the outset, Chinese officials intentionally misled the world about the coronavirus outbreak and the dangers it posed. In late 2019 and early 2020, government authorities sought to conceal infections from their own population as well as from global […]

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UNEMPLOYMENT RATES FELL IN 40 STATES AND DC IN NOVEMBER

Key Points: Unemployment rates fell in 40 states and the District of Columbia and remained stable in 10 states in November. The U.S. unemployment rate fell by 0.4% over the month to 4.2%. 17 states and the District of Columbia have unemployment rates above the U.S. average. Nebraska has the lowest unemployment rate at 1.8%, […]

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RETAIL SALES RISE BY 0.3% IN NOVEMBER, MISSING EXPECTATIONS

Key Points: Retail sales, a measure of purchases at stores, restaurants and online, rose by 0.3% in November over the month. Consensus among economists was a 0.8% increase. November’s 0.3% increase was far below October’s 1.8% increase. Excluding autos, retail sales rose by 0.3% over the month. Spending slowed in part due to rising costs […]

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THE FED’S FAILURE TO PROJECT INFLATION

Key Points: For the last decade, the Federal Open Market Committee (FOMC) has set itself an inflation target of 2% — a goal it has extraordinary power to control. Yet, year after year, the FOMC has never successfully delivered on that target. In December of 2020, the FOMC projected inflation would be 1.8%. After Congress […]

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INFLATION HIT 39-YEAR HIGH IN NOVEMBER

Key Points: The Consumer Price Index (CPI) increased 0.8% in November after rising 0.9% in October. CPI increased 6.8% from a year ago, the highest reading in 39 years. Prices remained above 5% for the sixth straight month. The core CPI, which excludes food and energy, rose 0.5% in November and is up 4.9% from […]

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JOB OPENINGS ACCELERATING PAST UNEMPLOYED POPULATION

Key Points: The number of available jobs since May continues to outnumber Americans looking for work. Job openings increased to 11.0 million in October but there were 6.9 million people unemployed in November. The U.S. added 210,000 jobs in November but there were 3.9 million fewer jobs than there were in February 2020. In October, […]

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U.S. ADDS 210K JOBS IN NOVEMBER, MISSING EXPECTATIONS

Key Points: Total nonfarm payroll employment rose by 210,000 in November as the unemployment rate fell 0.4% to 4.2%. Consensus among economists was a gain of 550,000 jobs. Nonfarm employment is down by 3.9 Million from pre-pandemic levels in February 2020. Manufacturing employment rose by 31,000, but is still down 253,000 from its level in […]

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MANUFACTURING PMI DROPS TO 11-MONTH LOW

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 58.3 in November from 59.1 in October, an 11-month low. November’s reading was the second weakest rise in production over the […]

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THANSKGIVING DINNER COSTS 14% MORE THAN LAST YEAR

Key Points: A survey from the Farm Bureau indicates the average cost of this year’s classic Thanksgiving feast for 10 is $53.31. This is a 14% increase from last year’s average of $46.90. The centerpiece on most Thanksgiving tables, the turkey, costs 24% more than last year at $23.99 for a 16-pound bird. Prices have […]

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CONSUMER SPENDING, INCOME, AND PRICES ROSE IN OCTOBER

Key Points: U.S. consumer spending rose by 1.3% in October, beating economists’ expectations of 0.9%. Personal income increased by 0.5%, or by $93.4 Billion, in October. The overall personal consumption expenditures price index rose 0.6% in October and is up 5.0% from a year prior. The core personal consumption expenditures price index, which excludes food […]

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BUILD BACK BETTER: A TAX CUT, FOR THE RICH

Key points: The House passed Biden’s $2 Trillion “Build Back Better” bill on November 19. The bill plans to raise the $10,000 cap on the deduction for state and local taxes to $80,000 through 2030. To gain a sense of who wins and who loses, here is what a full repeal would do: 86% of […]

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UNEMPLOYMENT RATES FELL IN 28 STATES AND DC IN OCTOBER

Key Points: Unemployment rates fell in 28 states and the District of Columbia and remained stable in 22 states in October. The U.S. unemployment rate fell by 0.2% over the month to 4.6%. 23 states and the District of Columbia have unemployment rates above the U.S. average. Nebraska has the lowest unemployment rate at 1.9%, […]

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RETAIL SALES ROSE BY 1.7% IN OCTOBER

Key Points: Retail sales, a measure of purchases at stores, restaurants and online, rose by 1.7% in October over the month. Consensus among economists was a 1.4% increase. Excluding autos, retail sales rose by 1.7% over the month. Higher spending in part reflects rising costs because consumer prices advanced 0.9% in October from September and […]

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HISTORIC HIGH IN JOB OPENINGS PERSIST

Key Points: The number of available jobs since May continues to outnumber Americans looking for work. Job openings reached 10.4 million in September but there were 7.4 million people unemployed in October. The U.S. added 531,000 jobs in October but there were 5.7 million fewer jobs than there were in February 2020. In September, the […]

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GAS PRICES ARE $1.30 HIGHER THAN LAST YEAR

Key Points: Gas prices across the country continue to increase. Overall, the price of a gallon of regular gas has increased from $2.11 one year ago to $3.42 today. The price has increased $0.16 in the last month alone. California has the highest price at $4.63, followed by Hawaii at $4.34. Oklahoma has the lowest […]

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U.S. ADDS 531K JOBS IN OCTOBER

Key Points: Total nonfarm payroll employment rose by 531,000 in October as the unemployment rate fell 0.2% to 4.6%. Consensus among economists was a gain of 450,000 jobs. Nonfarm employment is down by 5.7 Million from pre-pandemic levels in February 2020. Employment in retail trade increased by 35,000 in October, and is down by 140,000 […]

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CONSUMER SPENDING SLOWED IN SEPTEMBER, INCOME FELL

Key Points: U.S. consumer spending rose by 0.6% in September, beating economists’ expectations of 0.5%. Personal income decreased by 1.0%, or by $216.2 Billion, in September. The decrease in personal income in September primarily reflected a decrease in government social benefits. The overall personal consumption expenditures price index rose 0.3% in September and is up […]

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HOUSE PRICES ROSE 1% IN AUGUST, UP 18.5% IN LAST YEAR

Key Points: House prices rose nationwide in August, up 1.0% from the previous month. House prices rose 18.5% from August 2020 to August 2021. The 1.0% increase in August marks the 15th consecutive month of increases. Rising home prices are pushing some buyers out of the market. While existing home sales rose 7% in September, […]

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UNEMPLOYMENT RATES FELL IN 27 STATES IN SEPTEMBER

Key Points: Unemployment rates fell in 27 states and the District of Columbia, rose in 1 state, and remained stable in 22 states in September. The U.S. unemployment rate fell by 0.4% over the month to 4.8%. 16 states and the District of Columbia have unemployment rates above the U.S. average. Nebraska has the lowest […]

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TAX CUTS ARE NOT DRIVING THE U.S. DEFICIT

Key Points: The federal deficit has been a controversial subject as the Biden Administration blames the 2017 Tax Cuts and Jobs Act and aims to increase taxes as a solution. However, data from the Congressional Budget Office shows the contrary. The government collected $627 billion more than it did in fiscal 2020, pulling in a […]

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INDUSTRIAL PRODUCTION FELL 1.3% IN SEPTEMBER

Key Points: Industrial production in the U.S. declined in September as supply-chain disruptions in the auto industry and lingering effects of Hurricane Ida weighed on manufacturing and mining output during the month. Industrial production, which includes output at factory, mining and utility companies, fell 1.3% in September from the previous month. September’s decline is the […]

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RETAIL SALES ROSE BY 0.7% IN SEPTEMBER

Key Points: Retail sales, a measure of purchases at stores, restaurants and online, rose by 0.7% in September over the month. Consensus among economists was a 0.2% decline. Excluding autos, retail sales rose by 0.8% over the month. Higher spending in part reflects rising costs because consumer prices advanced 0.4% in September from August and […]

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CONSUMER PRICES INCREASED AGAIN IN SEPTEMBER

Key Points: The Consumer Price Index (CPI) increased 0.4% in September after rising 0.3% in August. CPI increased 5.4% from a year ago, the same reading as July and the largest 12-month increase since August 2008. The core CPI, which excludes food and energy, rose 0.2% in September and is up 4.0% from the previous […]

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JOB OPENINGS ACCELERATING PAST UNEMPLOYED POPULATION

Key Points: The number of available jobs since May continues to outnumber Americans looking for work. Job openings reached 10.4 million in August but there were 7.7 million people unemployed in September. The U.S. added 194,000 jobs in September but there were 5.7 million fewer jobs than there were in February 2020. In August, the […]

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U.S. ADDS 194K JOBS IN SEPTEMBER, MISSING EXPECTATIONS

Key Points: Total nonfarm payroll employment rose by 194,000 in September as the unemployment rate fell 0.4% to 4.8%. Consensus among economists was a gain of 500,000 jobs. This is the lowest gains since December 2020. Nonfarm employment is down by 5.7 Million from pre-pandemic levels in February 2020. Employment in retail trade increased by […]

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GAS PRICES CONTINUE TO RISE, UP $1.06 IN 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 $3.24 today. The price has increased $0.05 in the last week alone. California has the highest price at $4.43, followed by Hawaii at $4.12, and Washington at $3.85. […]

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CONSUMER SPENDING AND INCOME ROSE IN AUGUST, PRICES REMAIN HIGH

Key Points: U.S. consumer spending rose by 0.8% in August, beating economists’ expectations. Personal income increased by 0.2%, or by $35.5 Billion, in August. The overall personal consumption expenditures price index rose 0.4% in August and is up 4.3% from a year prior. The core personal consumption expenditures price index, which excludes food and energy, […]

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VIOLENT CRIME INCREASED 5.6% IN 2020

Key Points: The FBI released data showing that violent crime increased 5.6% overall in 2020. In 2020, there were an estimated 1,277,696 violent crimes. Motor Vehicle thefts rose 11.8%, aggravated assault offenses rose 12.1%, and murder and non-negligent manslaughter offenses increased 29.4%. There were 38,520 homicide incidents reported in 2020, compared to 27,908 in 2019. […]

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U.S. HOUSING MARKET COOLED IN AUGUST

Key Points: August existing-home sales posted a 2% decline from July, the biggest monthly decline since April. Sales last month also slid 1.5% from a year earlier, the first year-over-year decrease since June 2020. Recent home sales have hovered between about 5.8 million and 6 million, a noticeable pullback from the recent peak of 6.73 […]

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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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