THERIGHTFACTS.ORG

The Data that Drives Policy Lives Here.

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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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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