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U.S. ADDED 228K JOBS IN MARCH, BEATING EXPECTATIONS

Key Points: Total nonfarm payroll employment rose by 228,000 in March and the unemployment rate rose slightly to 4.2%. Consensus was a gain of 135,000 jobs. The change in total nonfarm payroll employment for January was revised down by 14,000, from +125,000 to +111,000, and the change for February was revised down by 34,000, from […]

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U.S. CONSUMER SPENDING REBOUNDED IN FEBRUARY

Key Points: U.S. consumer spending rose by 0.4%, or $87.8 billion, in February after falling 0.3% in January. Personal income increased by 0.8%, or $194.7 billion, in February, up from 0.7% in January. The overall personal consumption expenditures price index rose 0.3% in February and is up 2.5% from a year prior. The core personal […]

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HOME PRICES INCREASED SLIGHTLY IN JANUARY

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 4.1% in the year that ended in January, up from 4.0% in December. The 20-City Composite posted a year-over-year increase of 4.7%, up from a 4.5% increase in the previous month. The […]

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HOME SALES ROSE 4.2% IN FEBRUARY

Key Points: Existing-home sales rose 4.2% in February from January to a seasonally adjusted annual rate of 4.26 million. Sales slipped 1.2% from one year ago. The median existing-home sales price rose 3.8% from February 2024 to $398,400, the 20th consecutive month of year-over-year price increases. First-time buyers were responsible for 31% of sales in […]

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RETAIL SALES REBOUND IN FEBRUARY BUT MISS EXPECTATIONS

Key Points: Retail sales, a measure of purchases at stores, restaurants and online, rose 0.2% in February, up from a downward revised 1.2% decrease in January. Consensus was a gain of 0.7%. Excluding autos, retail sales rose by 0.3% over the month. Retail sales were 3.1% above February 2024 but CPI data released earlier this […]

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JOB OPENINGS ROSE IN JANUARY ABOVE EXPECTATIONS

Key Points: The number of available jobs continues to outnumber Americans looking for work once again. Job openings rose to 7.74 million in January, above consensus, after December was revised down by 92,000 to 7.5 million. The number of job openings increased in real estate and rental and leasing (+46,000). The U.S. added 124,000 jobs […]

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U.S. ADDED 151K JOBS IN FEBRUARY

Key Points: Total nonfarm payroll employment rose by 151,000 in February and the unemployment rate fell changed little at 4.1%. Consensus was a gain of 160,000 jobs. The change in total nonfarm payroll employment for December was revised up by 16,000, from +307,000 to +323,000, and the change for January was revised down by 18,000, […]

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THE FED’S PREFERRED INFLATION MEASURE SLOWS IN JANUARY

Key Points: U.S. consumer spending fell by 0.2%, or $30.7 billion, in January after rising 0.8% in December. Personal income increased by 0.9%, or $221.9 billion, in January, up from 0.4% in December. The overall personal consumption expenditures price index rose 0.3% in January and is up 2.5% from a year prior. The core personal […]

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HOUSING PRICES CONTINUE TO RISE

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 3.9% in the year that ended in December, up from 3.7% in November. The 20-City Composite posted a year-over-year increase of 4.5%, up from a 4.4% increase in the previous month. The […]

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HOME SALES FELL 4.9% IN JANUARY

Key Points: Existing-home sales fell 4.9% in January from December to a seasonally adjusted annual rate of 4.08 million. Sales accelerated 2.0% from one year ago, the fourth consecutive month of year-over-year increase. The median existing-home sales price rose 4.8% from January 2024 to $396,900, the 19th consecutive month of year-over-year price increases. First-time buyers […]

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RETAIL SALES PLUMMET IN JANUARY FROM DECEMBER

Key Points: Retail sales, a measure of purchases at stores, restaurants and online, fell 0.9% in January, down from a revised 0.7% increase in December. Excluding autos, retail sales rose by 0.4% over the month. Retail sales were 4.2% above January 2024 but CPI data released earlier this month showed prices have increased 3.0% in […]

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REAL WAGES FELL 1.3% UNDER BIDEN ADMIN, PRICES ROSE 21.5%

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 average hourly earnings trending up, wages are still down after adjusting for inflation. The final Consumer Price Index (CPI) reading under Biden rose 0.5% in January from December […]

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U.S. ECONOMY ADDED 143K JOBS IN JANUARY

Key Points: Total nonfarm payroll employment rose by 143,000 in January and the unemployment rate fell slightly to 4.0%. Consensus was a gain of 170,000 jobs. The change in total nonfarm payroll employment for November was revised up by 49,000, from 212,000 to 261,000, and the change for December was revised up by 51,000, from […]

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JOB OPENINGS DECLINED IN DECEMBER

Key Points: The number of available jobs continues to outnumber Americans looking for work once again. Job openings decreased to 7.6 million in December after November was revised up by 58,000 to 8.2 million. There are 1.3 million fewer job openings than December 2023. The number of job openings decreased in professional and business services […]

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FED’S PREFERRED INFLATION MEASURE ROSE IN DECEMBER

Key Points: U.S. consumer spending rose by 0.7%, or $133.6 billion, in December, up from 0.4% in November. Personal income increased by 0.4%, or $92.0 billion, in December, up from 0.3% in November. The overall personal consumption expenditures price index rose 0.3% in December and is up 2.6% from a year prior. The core personal […]

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U.S. HOME PRICES CONTINUED GAINS IN NOVEMBER

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 3.8% in the year that ended in November. The 20-City Composite posted a year-over-year increase of 4.3%, up from a 4.2% increase in the previous month. The 10-City Composite saw an annual […]

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REAL WAGES FELL 1.5% UNDER BIDEN ADMIN

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 average hourly earnings trending up, wages are still down after adjusting for inflation. The Consumer Price Index (CPI) rose 0.4% in December from November and is up 2.9% […]

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U.S. RETAIL SALES DECELERATED IN DECEMBER

Key Points: Retail sales, a measure of purchases at stores, restaurants and online, rose 0.4% in December, down from a revised 0.8% increase in November. Excluding autos, retail sales rose by 0.4% over the month. Retail sales were 3.9% above December 2023 but CPI data released earlier this month showed prices have increased 2.9% in […]

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U.S. ADDED 256K JOBS IN DECEMBER

Key Points: Total nonfarm payroll employment rose by 256,000 in December and the unemployment rate fell slightly to 4.1%. Consensus was a gain of 160,000 jobs. The change in total nonfarm payroll employment for October was revised up by 7,000, from +36,000 to +43,000, and the change for November was revised down by 15,000, from […]

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JOB OPENINGS TICKED UP IN NOVEMBER

Key Points: The number of available jobs continues to outnumber Americans looking for work once again. Job openings rose to 8.1 million in November after October was revised up by 95,000 to 7.8 million. There are 833 thousand fewer job openings than November 2023. The number of job openings increased in professional and business services […]

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FED’S PREFERRED INFLATION GAUGE ROSE IN NOVEMBER

Key Points: U.S. consumer spending rose by 0.4%, or $81.3 billion, in November, up from 0.3% in October. Personal income increased by 0.3%, or $71.1 billion, in November, down from 0.7% in October. The overall personal consumption expenditures price index rose 0.1% in November and is up 2.4% from a year prior. The core personal […]

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NOVEMBER HOME SALES POST BIGGEST ANNUAL GAIN SINCE 2021

Key Points: Existing-home sales rose 4.8% in November from October to a seasonally adjusted annual rate of 4.15 million. Sales accelerated 6.1% from one year ago, the largest year-over-year gain since June 2021 (+23.0%). The median existing-home sales price rose 4.7% from November 2023 to $406,100, the 17th consecutive month of year-over-year price increases. First-time […]

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U.S. RETAIL SALES ROSE IN NOVEMBER

Key Points: Retail sales, a measure of purchases at stores, restaurants and online, rose 0.7% in November, up from 0.5% increase in October. Excluding autos, retail sales rose by just 0.2% over the month. Retail sales were 3.8% above November 2023 but CPI data released earlier this month showed prices have increased 2.7% in the […]

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REAL WAGES STILL DOWN 1.3% UNDER BIDEN

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 average hourly earnings trending up, wages are still down after adjusting for inflation. The Consumer Price Index (CPI) rose 0.3% in November from October and is up 2.7% […]

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U.S. JOB OPENINGS ROSE IN OCTOBER

Key Points: The number of available jobs since May 2021 continues to outnumber Americans looking for work, but the gap is narrowing. Job openings rose to 7.7 million in October after September was revised down by 71,000 to 7.4 million. There are 1.1 million fewer job openings than October 2023. The number of job openings […]

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24 STATES HAD HIGHER UNEMPLOYMENT RATES THAN LAST YEAR

Key Points: Unemployment rates rose in three states, fell in one, and remained stable in 46 states and the District of Columbia in October. The U.S. unemployment rate changed little at 4.1% in October and is 0.3% higher than October 2023. In total, 24 states had unemployment rates lower than the U.S. figure of 4.1%, […]

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U.S. CONSUMERS INCREASED SPENDING IN OCTOBER

Key Points: Retail sales, a measure of purchases at stores, restaurants and online, rose 0.4% in October, down from 0.8% increase in September. Excluding autos, retail sales rose by just 0.1% over the month. Retail sales were 2.8% above October 2023 but CPI data released earlier this month showed prices have increased 2.6% in the […]

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REAL WAGES DOWN 1.4% UNDER BIDEN AND HARRIS

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 average hourly earnings trending up, wages are still down after adjusting for inflation. The Consumer Price Index (CPI) rose 0.2% in October from September and is up 2.6% […]

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KEY INFLATION RATE HITS 2.1% IN SEPTEMBER, AS EXPECTED

Key Points: U.S. consumer spending rose by 0.5%, or $105.8 billion, in September, up from 0.3% in August. Personal income increased by 0.3%, or $71.6 billion, in September, after rising 0.2% in August. The overall personal consumption expenditures price index rose 0.2% in September and is up 2.1% from a year prior. The core personal […]

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JOB OPENINGS FELL TO 7.4M IN SEPTEMBER

Key Points: The number of available jobs since May 2021 continues to outnumber Americans looking for work, but the gap is narrowing. Job openings fell to 7.4 million in September after August was revised down by 179,000 to 7.9 million. There are 1.9 million fewer job openings than September 2023. The number of job openings […]

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UNEMPLOYMENT RATES ROSE IN 5 STATES IN SEPTEMBER

Key Points: Unemployment rates rose in 5 states, fell in one, and remained stable in 44 states and the District of Columbia in September. The U.S. unemployment rate changed little at 4.1% in September and is 0.3% higher than September 2023. In total, 23 states had unemployment rates lower than the U.S. figure of 4.1%, […]

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REAL WAGES STILL DOWN 1.4% UNDER BIDEN AND HARRIS

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 average hourly earnings trending up, wages are still down after adjusting for inflation. The Consumer Price Index (CPI) rose 0.2% in September from August and is up 2.4% […]

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U.S. ADDED 254K JOBS IN SEPTEMBER

Key Points: Total nonfarm payroll employment rose by 254,000 in September and the unemployment rate fell slightly to 4.1%. Both the unemployment rate and the number of unemployed people changed little in September. These measures are higher than a year earlier, when the jobless rate was 3.8%, and the number of unemployed people was 6.3 […]

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HOME PRICES HIT NEW ALL TIME HIGH IN JULY

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 5.0% in the year that ended in July. The 20-City Composite posted a year-over-year increase of 5.9, down from a 6.5% increase in the previous month. The 10-City Composite showed an increase […]

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EXISTING HOME SALES FELL 2.5% IN AUGUST

Key Points: Existing-home sales fell 2.5% in August from July to a seasonally adjusted annual rate of 3.86 million. Existing-home sales fell 4.2% from one year ago. At $416,700, the median existing-home sales price for August was the 14th consecutive month of year-over-year price increases. First-time buyers were responsible for 26% of sales in August, […]

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RETAIL SALES TAPER OFF IN AUGUST

Key Points: Retail sales, a measure of purchases at stores, restaurants and online, rose 0.1% in August, far below July’s 1.1% increase. Excluding autos, retail sales rose by just 0.1% over the month. Retail sales were 2.1% above August 2023 but CPI data released earlier this month showed prices have increased 2.5% in the last […]

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REAL WAGES STILL DOWN 1.7% UNDER BIDEN AND HARRIS

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 average hourly earnings trending up, wages are still down after adjusting for inflation. The Consumer Price Index (CPI) rose 0.2% in August from July and is up 2.5% […]

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JOB OPENINGS DECLINE IN JULY

Key Points: The number of available jobs since May 2021 continues to outnumber Americans looking for work. Job openings were unchanged at 7.67 million in July after June was revised down to 7.9 million. There are 1.1 million fewer job openings than July 2023. The number of job openings decreased in health care and social […]

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HOME PRICES HIT NEW ALL-TIME HIGH IN JUNE

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 5.4% in the year that ended in June. The 20-City Composite posted a year-over-year increase of 6.5%, down from a 6.9% increase in the previous month. The 10-City Composite showed an increase […]

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CONSUMER SPENDING JUMPED IN JULY

Key Points: Retail sales, a measure of purchases at stores, restaurants and online, rose 1.0% in July, above consensus of a 0.3% increase. June was revised down from 0.0% to -0.2%. Excluding autos, retail sales rose by 0.4% over the month. Retail sales were 2.7% above July 2023 but CPI data released earlier this month […]

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UNEMPLOYMENT RATES ROSE IN 13 STATES IN JULY

Key Points: Unemployment rates rose in 13 states, fell in one, and remained stable in 36 states and the District of Columbia in July. The U.S. unemployment rate rose 0.2% to 4.3% in July and is 0.8% higher than last year. In total, 28 states had unemployment rates lower than the U.S. figure of 4.3%, […]

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REAL WAGES DOWN 1.9% UNDER BIDEN

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 average hourly earnings trending up, wages are still down after adjusting for inflation. The Consumer Price Index (CPI) rose 0.2% in July from June and is up 2.9% […]

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THE NUMBER OF U.S. JOB OPENINGS IS SHRINKING

Key Points: The number of available jobs since May 2021 continues to outnumber Americans looking for work. Job openings were unchanged at 8.2 million in June. There are 941 thousand fewer job openings than June 2023. Job openings increased in accommodation and food services (+120,000) and in state and local government, excluding education (+94,000). The […]

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FED’S KEY INFLATION GAUGE ROSE 2.5% FROM A YEAR AGO

Key Points: U.S. consumer spending rose by 0.3%, or $57.6 billion, in June, down from 0.4% in May. Personal income increased by 0.2%, or $50.4 billion, in June, after rising 0.4% in May. The overall personal consumption expenditures price index rose 0.1% in June and is up 2.5% from a year prior. The core personal […]

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UNEMPLOYMENT RATES ROSE IN 8 STATES IN JUNE

Key Points: Unemployment rates rose in eight states, fell in one, and remained stable in 41 states and the District of Columbia in June. The U.S. unemployment rate rose 0.1% to 4.1% in June but is 0.5% higher than last year. In total, 26 states had unemployment rates lower than the U.S. figure of 4.1%, […]

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RETAIL SALES FLAT IN JUNE

Key Points: Retail sales, a measure of purchases at stores, restaurants and online, were unchanged in June, below consensus of a 0.2% increase. May was revised up from 0.1% to 0.3%. Excluding autos, retail sales rose by 0.4% over the month. Retail sales were 2.3% above June 2023 but CPI data released earlier this month […]

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REAL WAGES STILL DOWN 1.9% SINCE BIDEN TOOK OFFICE

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 average hourly earnings trending up, wages are still down after adjusting for inflation. The Consumer Price Index (CPI) fell 0.1% in June from May and is up 3.0% […]

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JOB OPENINGS RISE IN MAY, APRIL REVISED DOWN

Key Points: The number of available jobs since May 2021 continues to outnumber Americans looking for work. Job openings rose from 7.9 million in April to 8.1 million in May There are 1.2 million fewer job openings than May 2023. In May, job openings decreased in accommodation and food services (-147,000) and in private educational […]

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NEW HOME SALES SLUMP 11.3% IN MAY TO 6-MONTH LOW

Key Points: New home sales fell 11.3% in May from April to a seasonally adjusted 619K. New home sales were 16.5% lower than May 2023. The median sales price of new houses sold in May was $417,400 and the average sales price was $520,000. The Right Facts will continue to monitor home sales.

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MAY UNEMPLOYMENT RATE FELL IN 4 STATES, ROSE IN 3

Key Points: Unemployment rates rose in three states, fell in four, and remained stable in 43 states and the District of Columbia in May. The U.S. unemployment rate rose 0.1% to 4.0% in May but is 0.3% higher than last year. In total, 24 states had unemployment rates lower than the U.S. figure of 4.0%, […]

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HOME PRICES BREAK NEW RECORD

Key Points: Existing-home sales fell 0.7% in May from April, to a seasonally adjusted annual rate of 4.11 million. Existing-home sales fell 2.8% from one year ago. The median existing-home sales price for May rose 5.8% from one year ago to $419,300 for the eleventh consecutive month of year-over-year price increases and the highest price […]

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RETAIL SALES STAGNANT IN SIGN OF CONSUMER STRAIN

Key Points: Retail sales, a measure of purchases at stores, restaurants and online, rose just 0.1% in May, below consensus of 0.2%. March was revised down from 0.0% to -0.2%. Excluding autos, retail sales fell by 0.1% over the month, the same reading as the April revisions. Retail sales were 2.3% above May 2023 but […]

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REAL WAGES DOWN 2.2% UNDER BIDEN

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 average hourly earnings trending up, wages are still down after adjusting for inflation. The Consumer Price Index (CPI) was unchanged in May from April and is up 3.3% […]

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INFLATION EASED SLIGHTLY IN MAY

Key Points: The Consumer Price Index (CPI) was unchanged in May, after rising 0.3% in April. CPI increased 3.3% from a year ago, down from 3.4% in April and consensus of 3.4%. CPI has remained above 3% for 38 consecutive months dating back to April 2021. The index for shelter rose 0.4% and the energy […]

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HIRING REBOUNDED IN MAY, UNEMPLOYMENT RATE ROSE TO 4%

Key Points: Total nonfarm payroll employment rose by 272,000 in May and the unemployment rate rose 0.1% to 4.0%. Consensus among economists was a gain of 185,000 jobs. The change in total nonfarm payroll employment for March was revised down by 5,000, from +315,000 to +310,000, and the change for April was revised down by […]

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JOB OPENINGS FALL TO THREE-YEAR LOW

Key Points: The number of available jobs since May 2021 continues to outnumber Americans looking for work. Job openings fell from 8.4 million in March to 8.1 million in April, below consensus of 8.3 million and the lowest level in three years. There are 1.8 million fewer job openings than April 2023. In April, job […]

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PRICES HELD STEADY IN APRIL, CONSUMERS SLOWED SPENDING

Key Points: U.S. consumer spending rose by 0.2%, or $39.1 billion, in April, down from 0.7% in March. Personal income increased by 0.3%, or $65.3 billion, in April, after rising 0.5% in March. The overall personal consumption expenditures price index rose 0.3% in April and is up 2.7% from a year prior, the same readings […]

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HOUSING PRICES HIT NEW ALL-TIME HIGH IN MARCH

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 6.5% in the year that ended in March, the same reading as February. The 20-City Composite posted a year-over-year increase of 7.4%, up from a 7.3% increase in the previous month. The […]

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HOME SALES FALL AGAIN IN APRIL

Key Points: Existing-home sales fell 1.9% in April from March, to a seasonally adjusted annual rate of 4.14 million. Existing-home sales fell 1.9% from one year ago. The median existing-home sales price for April rose 5.7% from one year ago to $407,600 for the tenth consecutive month of year-over-year price increases and the highest price […]

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APRIL UNEMPLOYMENT RATES DOWN IN FIVE STATES, UP IN TWO

Key Points: Unemployment rates rose in two states, fell in five, and remained stable in 43 states and the District of Columbia in April. The U.S. unemployment rate rose 0.1% to 3.9% in April but is 0.5% higher than last year. In total, 24 states had unemployment rates lower than the U.S. figure of 3.9%, […]

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REAL WAGES DOWN 2.7% UNDER BIDEN

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 average hourly earnings trending up, wages are still down after adjusting for inflation. The Consumer Price Index (CPI) rose 0.3% in April from March and is up 3.4% […]

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RETAIL SALES UNEXPECTEDLY FLAT IN APRIL

Key Points: Retail sales, a measure of purchases at stores, restaurants and online, were unchanged in April, well below consensus of 0.4%. March was revised down from 0.7% to 0.6%. Excluding autos, retail sales rose by 0.2% over the month, down from the revised 0.9% gain in March. Retail sales were 3.0% above April 2023 […]

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U.S. HIRING SLOWED IN APRIL

Key Points: Total nonfarm payroll employment rose by 175,000 in April and the unemployment rate rose 0.1% to 3.9%. Consensus among economists was a gain of 243,000 jobs. The change in total nonfarm payroll employment for February was revised down by 34,000, from +270,000 to +236,000, and the change for March was revised up by […]

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JOB OPENINGS FALL, QUITS EASE IN MARCH

Key Points: The number of available jobs since May 2021 continues to outnumber Americans looking for work. Job openings fell from 8.8 million in February to 8.5 million in March, below consensus of 8.7 million. There are 1.1 million fewer job openings than March 2023. In March, job openings decreased in construction (-182,000) and in […]

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HOME PRICES TREND EVEN HIGHER IN FEBRUARY

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 6.4% in the year that ended in February, up from 6.0% in January. The 20-City Composite posted a year-over-year increase of 7.3%, up from a 6.6% increase in the previous month. The […]

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CORE PRICES TICKED UP IN MARCH

Key Points: U.S. consumer spending rose by 0.8%, or $160.9 billion, in March, the same reading as February. Personal income increased by 0.5%, or $122.0 billion, in March, after rising 0.3% in February. The overall personal consumption expenditures price index rose 0.3% in March and is up 2.7% from a year prior. The core personal […]

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NEW HOME SALES SURGED IN MARCH

Key Points: New home sales rose 8.8% in March from February to a seasonally adjusted 693K. New home sales were 8.3% higher than March 2023. The median sales price of new houses sold in March was $430,700 and the average sales price was $524,800. The Right Facts will continue to monitor home sales.

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HOME SALES SLUMPED IN MARCH, PRICES HIT NEW RECORD

Key Points: Existing-home sales fell 4.3% in March from February, to a seasonally adjusted annual rate of 4.19 million. Existing-home sales fell 3.7% from one year ago. The median existing-home sales price for March rose 4.8% from one year ago to $393,500 for the ninth consecutive month of year-over-year price increases and the highest price […]

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U.S RETAIL SALES EXCEED ESTIMATES

Key Points: Retail sales, a measure of purchases at stores, restaurants and online, rose 0.7% in March from February, well above consensus of 0.3%. Excluding autos, retail sales rose by 1.1% over the month, well above expectations of 0.4%. Retail sales were 4.0% above March 2023 but CPI data released earlier this month showed prices […]

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REAL WAGES STILL DOWN 2.5% UNDER BIDEN

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 average hourly earnings trending up, wages are still down after adjusting for inflation. The Consumer Price Index (CPI) rose 0.4% in March from February and is up 3.5% […]

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HIRING ACCELERATED IN MARCH

Key Points: Total nonfarm payroll employment rose by 303,000 in March and the unemployment rate fell 0.1% to 3.8%. Consensus among economists was a gain of 200,000 jobs. The change in total nonfarm payroll employment for January was revised up by 27,000, from +229,000 to +256,000, and the change for February was revised down by […]

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JOB OPENINGS ROSE TO 8.8 MILLION IN FEBRUARY, JANUARY REVISED DOWN

Key Points: The number of available jobs since May 2021 continues to outnumber Americans looking for work. Job openings rose modestly to 8.8 million in February, slightly above consensus of 8.7 million. In February, job openings increased in finance and insurance (+126,000); state and local government, excluding education (+91,000); and arts, entertainment, and recreation (+51,000). […]

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CONSUMERS SPENDING MORE, MAKING LESS

Key Points: U.S. consumer spending rose by 0.8%, or $145.5 billion, in February, after rising 0.2% in January. Personal income increased by 0.3%, or $66.5 billion, in February, after rising 1.0% in January. The overall personal consumption expenditures price index rose 0.3% in February and is up 2.5% from a year prior. The core personal […]

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HOUSING PRICES CONTINUE TO TREND UPWARD

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 6.0% in the year that ended in January after rising 5.6% in December. The 20-City Composite posted a year-over-year increase of 6.6%, up from a 6.2% increase in the previous month. The […]

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