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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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U.S. RETAIL SALES ROSE IN FEBRUARY BUT MISSED EXPECTATIONS

Key Points: Retail sales, a measure of purchases at stores, restaurants and online, rose 0.6% in February from January, below consensus of 0.8%. Excluding autos, retail sales rose by 0.3% over the month, below expectations of 0.4%. Retail sales were 1.5% above February 2023 but CPI data released earlier this month showing prices have increased […]

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REAL WAGES HAVE FALLEN 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 February from January and is up 3.2% […]

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INFLATION RISES TO 3.2%, ABOVE EXPECTATIONS

Key Points: The Consumer Price Index (CPI) rose 0.4% in February after rising 0.3% in January. CPI increased 3.2% from a year ago, up from 3.1% in January, and above consensus of 3.1%. The index for shelter rose 0.4% and the energy index rose 2.3% over the month. The index for food at home was […]

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25 STATES HAD UNEMPLOYMENT RATE INCREASES IN LAST YEAR

Key Points: Unemployment rates rose in four states, lower in two, and remained stable in 44 states and the District of Columbia in January. The U.S. unemployment rate was unchanged at 3.7% in January. In total, 16 states had unemployment rates lower than the U.S. figure of 3.7%, 7 states and the District of Columbia […]

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JOB OPENINGS STABLE BUT REMAIN HIGH

Key Points: The number of available jobs since May 2021 continues to outnumber Americans looking for work. Job openings were little changed at 8.86 million in January, slightly below consensus of 8.90 million. Over the month, job openings increased in nondurable goods manufacturing (+82,000) but decreased in private educational services (-41,000). The U.S. added 353,000 […]

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FED’S PREFERRED INFLATION GAUGE TICKED UP IN JANUARY

Key Points: U.S. consumer spending rose by 0.2%, or $43.9 billion, in January, after rising 0.7% in December. Personal income increased by 1.0%, or $233.7 billion, in January, after rising 0.3% in December. The overall personal consumption expenditures price index rose 0.3% in January and is up 2.4% from a year prior. The core personal […]

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REAL WAGES HAVE FALLEN 2.1% 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 January from December and is up 3.1% […]

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U.S. SHOPPERS CUT BACK IN JANUARY

Key Points: Retail sales, a measure of purchases at stores, restaurants and online, fell 0.8% in January from December after increased spending for the holiday season. The change for December was revised down from a 0.6% gain to 0.4%. Excluding autos, retail sales fell by 0.6% over the month. Retail sales are not adjusted for […]

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U.S. ADDED 353K JOBS IN JANUARY

Key Points: Total nonfarm payroll employment rose by 353,000 in January and the unemployment rate was unchanged at 3.7%. Consensus among economists was a gain of 185,000 jobs. The change in total nonfarm payroll employment for November was revised up by 9,000, from +173,000 to +182,000, and the change for December was revised up by […]

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HOME PRICES ACCELERATED 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 5.1% in the year that ended in November after rising 4.7% in October. The 20-City Composite posted a year-over-year increase of 5.4%, up from a 4.9% increase in the previous month. The […]

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JOB OPENINGS UNEXPECTEDLY RISE TO HIGHEST IN THREE MONTHS

Key Points: The number of available jobs since May 2021 continues to outnumber Americans looking for work. Job openings ticked up to 9.0 million in December, above consensus of 8.75 million, and the highest since September. Over the month, job openings increased in professional and business services (+239,000) but decreased in wholesale trade (-83,000). The […]

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INFLATION REMAINS MODERATE WHILE CONSUMERS KEEP SPENDING

Key Points: U.S. consumer spending rose by 0.7%, or $133.9 billion, in December, after rising 0.4% in November. Personal income increased by 0.3%, or $60.0 billion, in December, after rising 0.4% in November. The overall personal consumption expenditures price index rose 0.2% in December and is up 2.6% from a year prior. The core personal […]

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DECEMBER UNEMPLOYMENT RATE ROSE IN 15 STATES

Key Points: Unemployment rates rose in 15 states, fell in one, and remained stable in 34 states and the District of Columbia in December. The U.S. unemployment rate was unchanged at 3.7% in December. In total, 16 states had unemployment rates lower than the U.S. figure of 3.7 percent, 5 states and the District of […]

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2023 HOME SALES LOWEST SINCE 1995

Key Points: Existing-home sales fell 1.0% in December from November, after rising in November, to a seasonally adjusted annual rate of 3.78 million. On an annual basis, existing-home sales (4.09 million) dropped to the lowest level since 1995, while the median price reached a record high of $389,800 in 2023. Existing-home sales fell 6.2% from […]

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RETAIL SALES JUMP IN DECEMBER AMID STRONG HOLIDAY SEASON

Key Points: Retail sales, a measure of purchases at stores, restaurants and online, rose 0.6% in December from November due to an increase in spending for the holiday season. Excluding autos, retail sales rose by 0.4% over the month. Retail sales were 5.6% above November 2022, above CPI data released earlier this month showing prices […]

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REAL WAGES HAVE FALLEN 2.6% 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 December from November and is up 3.4% […]

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REVISIONS ERASED 443K JOBS FROM HEADLINE REPORTS IN 2023

Key Points: Revisions to monthly job gains have erased 443K job gains from January to November 2023. Total jobs added from January to November were revised down from 2.9M to 2.4M, a 15.2% decline. June had the highest downward revision from 209K to just 105K, a nearly 50% decline. December’s job report alone reported -71K […]

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JOB OPENINGS FELL TO LOWEST LEVEL SINCE 2021

Key Points: The number of available jobs since May 2021 continues to outnumber Americans looking for work, but that gap is tightening. Job openings changed little at 8.8 million in November, below consensus of 8.85 million, and the lowest level since March 2021. Over the month, job openings decreased in transportation, warehousing, and utilities (-128,000) […]

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U.S. HOME SALES ROSE IN NOVEMBER, PRICES ROSE 4% IN LAST YEAR

Key Points: Existing-home sales rose 0.8% in November from October, after five-months of consecutive declines, to a seasonally adjusted annual rate of 3.82 million. November’s increase come after sales in October fell to the lowest rate in 13 years, dating back to August 2010. Existing-home sales fell 7.3% from one year ago. The median existing-home […]

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REAL WAGES STILL DOWN 2.8% 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 0.1% in November from October and is up 3.1% […]

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INFLATION REMAINS STUBBORNLY HIGH IN NOVEMBER

Key Points: The Consumer Price Index (CPI) rose 0.1% in November after no change in October. CPI increased 3.1% from a year ago, down from 3.2% in October. The index for shelter continued to rise in November, offsetting a decline in the gasoline index. The index for shelter rose 0.4% and the index for food […]

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U.S. HIRING CONTINUES TO SLOW, ADDS 199K JOBS IN NOVEMBER

Key Points: Total nonfarm payroll employment rose by 199,000 in November and the unemployment rate edged down to 3.7%. Consensus among economists was a gain of 180,000 jobs. Employment growth is below the average monthly gain of 240,000 over the prior 12 months. The change in total nonfarm payroll employment for September was revised down […]

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JOB OPENINGS FELL TO LOWEST LEVEL SINCE 2021 IN OCTOBER

Key Points: The number of available jobs since May 2021 continues to outnumber Americans looking for work, but that gap is tightening. Job openings fell to 8.7 million in October, below consensus of 9.3 million, and the lowest level since March 2021. Over the month, job openings decreased in health care and social assistance (-236,000), […]

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CONSUMERS PULLED BACK ON SPENDING IN OCTOBER

Key Points: U.S. consumer spending rose by 0.2%, or $41.2 billion, in October, after rising 0.7% in September. Personal income increased by 0.2%, or $57.1 billion, in October, after rising 0.4% in September. The overall personal consumption expenditures price index was unchanged in October and is up 3.0% from a year prior. The core personal […]

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HOME PRICES HIT A NEW RECORD HIGH IN SEPTEMBER

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 September after rising 2.5% in August. The September level was the highest since the index began in 1987. The 20-City Composite posted a year-over-year increase […]

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HOME SALES FELL TO NEW 13-YEAR LOW IN OCTOBER

Key Points: Existing-home sales fell 4.1% in October from September to a seasonally adjusted annual rate of 3.79 million. Existing-home sales fell 14.6% from one year ago. The median existing-home sales price for October rose 3.4% from one year ago to $391,800. Sales in October fell to the lowest rate in 13 years, dating back […]

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UNEMPLOYMENT RATES ROSE IN 26 STATES IN OCTOBER

Key Points: Unemployment rates rose in 26 states, and remained stable in 24 states and the District of Columbia in October. The U.S. unemployment rate rose rose to 3.9% in October. In total, 26 states had unemployment rates lower than the U.S. figure of 3.9 percent, 4 states and the District of Columbia had higher […]

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REAL WAGES HAVE FALLEN 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) was unchanged in October from September and is up 3.2% […]

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RETAIL SALES FELL IN OCTOBER FOR FIRST TIME SINCE MARCH

Key Points: Retail sales, a measure of purchases at stores, restaurants and online, fell 0.1% in October from September. This was the first monthly decline since March. The August to September percent change was revised up to 0.9% from 0.7%. Excluding autos, retail sales rose by 0.1% over the month. Retail sales were 2.5% above […]

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PRICES UNCHANGED IN OCTOBER, CORE PRICES REMAIN HIGH

Key Points: The Consumer Price Index (CPI) was unchanged in October after rising 0.4% in September. CPI increased 3.2% from a year ago, down from 3.7% in September. The index for shelter continued to rise in October, offsetting a decline in the gasoline index and resulting in the overall index being unchanged over the month. […]

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REVISIONS ERASED 337K JOB GAINS SO FAR THIS YEAR

Key Points: Revisions to monthly job gains have erased 337K job gains in the first nine months of the year. Total jobs added from January to September were revised down from 2.6M to 2.2M, a 13.1% decline. June had the highest downward revision from 209K to just 105K, a nearly 50% decline. October’s job report […]

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U.S. HIRING SLOWED IN OCTOBER, ADDED JUST 150K JOBS

Key Points: Total nonfarm payroll employment rose by 150,000 in October and the unemployment rate ticked up to 3.9%. Consensus among economists was a gain of 180,000 jobs. The change in total nonfarm payroll employment for August was revised down by 62,000, from +227,000 to +165,000, and the change for September was revised down by […]

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JOB OPENINGS, HIRES, AND SEPARATIONS FLAT IN SEPTEMBER

Key Points: The number of available jobs since May 2021 continues to outnumber Americans looking for work. Job openings were little changed at 9.6 million in September, above consensus of 9.25 million. Over the month, job openings increased in accommodation and food services (+141,000) and in arts, entertainment, and recreation (+39,000). Job openings decreased in […]

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HOME PRICES ROSE TO RECORD HIGH IN AUGUST

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 2.6% in the year that ended in August after rising 1.0% in July. The August level was the highest since the index began in 1987. The 20-City Composite posted a year-over-year increase […]

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UNEMPLOYMENT RATES ROSE IN 16 STATES IN SEPTEMBER

Key Points: Unemployment rates rose in 16 states, and remained stable in 34 states and the District of Columbia in September. The U.S. unemployment rate rose was unchanged over the month at 3.8% in September, but 0.3% higher than September 2022. In total, 25 states had unemployment rates lower than the U.S. figure of 3.8 […]

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HOME SALES FALL TO LOWEST LEVELS SINCE 2010

Key Points: Existing-home sales fell 2.0% in September from August to a seasonally adjusted annual rate of 3.96 million. Existing-home sales fell 15.4% from one year ago. The median existing-home sales price for September rose 2.8% from one year ago to $394,300. Sales in September fell to the lowest rate in 13 years, dating back […]

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RETAIL SALES ROSE FOR THE SIXTH CONSECUTIVE MONTH

Key Points: Retail sales, a measure of purchases at stores, restaurants and online, rose 0.7% in September from August for the sixth consecutive month. Consensus among economists was a 0.3% increase. The July to August percent change was revised up to 0.8% from 0.6%. Excluding autos, retail sales rose by 0.6% over the month. Retail […]

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REAL WAGES DOWN 3.3% 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 0.4% in September from August and is up 3.7% […]

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PRICES ROSE MORE THAN EXPECTED IN SEPTEMBER

Key Points: The Consumer Price Index (CPI) rose 0.4% in September after rising 0.6% in August. CPI increased 3.7% from a year ago, the same reading as August. The index for energy rose 1.5% over the month, food rose 0.2%, and shelter increased by 0.6%. The index for food at home increased 0.1% over the […]

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U.S. JOB OPENINGS UNEXPECTEDLY ROSE IN AUGUST

Key Points: The number of available jobs since May 2021 continues to outnumber Americans looking for work. Job openings rose by 690,000 to 9.6 million in August, far above consensus of 8.8 million. Job openings increased in professional and business services (+509,000), finance and insurance (+96,000), state and local government education (+76,000), nondurable goods manufacturing […]

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PRICES ROSE IN AUGUST, CONSUMER SPENDING SLOWED

Key Points: U.S. consumer spending rose by 0.4%, or $83.6 billion, in August, after rising 0.9% in July. Personal income increased by 0.4%, or $87.6 billion, in August, after rising 0.2% in July. The overall personal consumption expenditures price index rose 0.4% in August and is up 3.5% from a year prior. The core personal […]

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U.S. HOME PRICES INCREASED 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 1.0% in the year that ended in July after a series of declines and a 0% reading in June. The 20-City Composite posted an increase of 0.1%, improving from a loss of […]

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UNEMPLOYMENT RATES ROSE IN 10 STATES IN AUGUST

Key Points: Unemployment rates rose in 10 states, fell in two states, and remained stable in 38 states and the District of Columbia in August. The U.S. unemployment rate rose unexpectedly to 3.8% in August. Two states and the District of Columbia had unemployment rates above the U.S. average in August, 27 states were lower, […]

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REAL WAGES DOWN 3.1% 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 0.6% in August from July and is up 3.7% […]

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INFLATION ACCELERATED IN AUGUST

Key Points: The Consumer Price Index (CPI) rose 0.6% in August after rising 0.2% in July. CPI increased 3.7% from a year ago, up from 3.2% in July. The index for energy rose 5.6% over the month, food rose 0.2%, and shelter increased by 0.3%. This marks the 40th consecutive month of increases in the […]

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REVISIONS ERASE 330K JOB GAINS SO FAR THIS YEAR

Key Points: Revisions to monthly job gains have erased 330K job gains in the first seven months of the year. Total jobs added from January to July were revised down from 2.1M to 1.7M, a 16.1% decline. June had the highest revision from 209K to just 105K, a nearly 50% decline. Before revisions, nonfarm payroll […]

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LABOR DAY GAS PRICES NEAR ALL-TIME HIGH

Key Points: Gas prices climbed to an average of $3.81 a gallon nationally over Labor Day weekend, $0.02 higher than last year, and near the all-time Labor Day record of $3.84. Diesel prices have jumped $0.27 in the last month. 16 States and D.C. have prices above the U.S. average and 34 states have lower […]

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JOB OPENINGS UNEXPECTEDLY DECLINE IN JULY

Key Points: The number of available jobs since May 2021 continues to outnumber Americans looking for work, but the margins are shrinking. Job openings fell by 338,000 to 8.8 million in July, far below consensus of 9.5 million. Job openings increased in information (+101,000) and in transportation, warehousing, and utilities (+75,000). Job openings decreased in […]

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U.S. HOME SALES FELL IN JULY, EXTENDING SLUMP

Key Points: Existing-home sales fell 2.2% in July from June to a seasonally adjusted annual rate of 4.07 million. Existing-home sales fell 16.6% from one year ago. The median existing-home sales price for July rose 1.9% from one year ago to $406,700. This is the fourth time the monthly median sales prices eclipsed $400,000, joining […]

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11 STATES SET SERIES LOW UNEMPLOYMENT RATES IN JULY

Key Points: Unemployment rates fell in seven states, rose in three states, and remained stable in 40 states and the District of Columbia in July. The U.S. unemployment rate was little changed at 3.5% in July and the same as in July 2022. Three states and the District of Columbia had unemployment rates above the […]

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GAS PRICES HIT 10-MONTH HIGH

Key Points: Gas prices climbed to an average of $3.88 a gallon nationally this week, a 10-month high. Gas prices have increased by $0.31 in the last month alone. The highest gas prices are in California ($5.09), Washington ($5.01), Hawaii ($4.77), Oregon ($4.67), Alaska ($4.46), Nevada ($4.34), Utah ($4.09), Illinois ($4.05), and Idaho ($4.05). The […]

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REAL WAGES STILL DOWN UNDER BIDEN DESPITE SLOWING INFLATION

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 and lower inflation readings recently, wages are still down after adjusting for inflation. The Consumer Price Index (CPI) rose 0.2% in July from […]

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U.S. ADDS 187K JOBS IN JULY, MAY AND JUNE REVISED DOWN

Key Points: Total nonfarm payroll employment rose by 187,000 in July and the unemployment rate was little changed at 3.5%. Consensus among economists was a gain of 200,000 jobs. The change in total nonfarm payroll employment for May was revised down by 25,000, from 306,000 to 281,000, and the change for June was revised down […]

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JOB OPENINGS FLAT IN JUNE, QUITS DECLINE

Key Points: The number of available jobs since May 2021 continues to outnumber Americans looking for work. Job openings were little changed at 9.6 million in June. Job openings increased in health care and social assistance (+136,000) and in state and local government, excluding education (+62,000). Job openings decreased in transportation, warehousing, and utilities (-78,000), […]

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U.S. CONSUMER SPENDING INCREASED IN JUNE

Key Points: U.S. consumer spending rose by 0.5%, or $100.4 billion, in June, after rising 0.2% in May. Personal income increased by 0.3%, or $69.5 billion, in June, after rising 0.5% in May. The overall personal consumption expenditures price index rose 0.2% in June and is up 3.0% from a year prior. The core personal […]

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HOME PRICES FELL YEAR-OVER=YEAR IN MAY

Key Points: The S&P CoreLogic Case-Shiller National Home Price Index, which measures average home prices in major metropolitan areas across the nation, fell 0.5% in the year that ended in May, down further from the 0.1% decline in the previous month. Before seasonal adjustment, the U.S. National Index posted a 1.2% month-over-month increase in May, […]

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NINE STATES SET RECORD LOW UNEMPLOYMENT IN JUNE

Key Points: Unemployment rates fell in 11 states and remained stable in 39 states and the District of Columbia in June. The U.S. unemployment rate was little changed at 3.6% in June. Three states and the District of Columbia had unemployment rates above the U.S. average in June. Twenty-two states had jobless rate decreases from […]

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EXISTING-HOME SALES FELL IN JUNE, PRICES NEAR ALL-TIME HIGH

Key Points: Existing-home sales fell 3.3% in June from May to a seasonally adjusted annual rate of 4.16 million. Existing-home sales fell 18.9% from one year ago. At $410,200, the median existing-home sales price for June was the second-highest price ever recorded – since January 1999 when NAR began tracking the data – and 0.9% […]

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RETAIL SALES MISS EXPECTATIONS DESPITE SLOWING INFLATION

Key Points: Retail sales, a measure of purchases at stores, restaurants and online, rose 0.2% in June from May. Consensus among economists was a 0.5% increase. The April to May percent change was revised up to 0.5% from 0.3%. Excluding autos, retail sales also rose by 0.2% over the month. Retail sales were 1.5% above […]

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REAL WAGES DOWN 3% 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 lower after adjusting for inflation. The Consumer Price Index (CPI) rose 0.2% in June from May and is up 3.0% in […]

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INFLATION EASED TO 3% IN JUNE

Key Points: The Consumer Price Index (CPI) rose 0.2% in June after rising 0.1% in May. CPI increased 3.0% from a year ago, down from 4.0% in May, and the lowest reading since March 2021. CPI has slowed from the peak one year ago when prices were up 9.1% in June 2022. The index for […]

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VIOLENT CRIME UP 33% IN D.C. SO FAR THIS YEAR

Key Points: Violent crime has surged across the country since 2020. As of July 11, Washington DC has seen a 33% increase in violent crimes compared to the same time last year and a 30% increase in total crimes. Motor vehicle theft has surged 117%, with 3,785 incidents this year compared to 1,744 last year. […]

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U.S. ADDED 209K JOBS IN JUNE, MISSING EXPECTATIONS

Key Points: Total nonfarm payroll employment rose by 209,000 in June and the unemployment rate was little changed at 3.6%. Consensus among economists was a gain of 225,000 jobs. The change in total nonfarm payroll employment for April was revised down by 77,000, from 294,000 to 217,000, and the change for May was revised down […]

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JOB OPENINGS FELL BY 496K IN MAY

Key Points: The number of available jobs since May 2021 continues to outnumber Americans looking for work. Job openings fell by 496,000 to 9.8 million in May, offsetting an increase of the same magnitude in the prior month. In May, job openings decreased in health care and social assistance (-285,000), finance and insurance (-139,000), and […]

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EXCLUDING COVID, TRUMP ADMIN CREATED FAR MORE JOBS THAN BIDEN

Key Points: On June 27th, Biden tweeted a comparison in the average monthly jobs gained under Presidential administrations dating back to Reagan. However, this does not account for the drastic change in employment under COVID and using the pre-COVID employment levels is a more accurate depiction of jobs gained by admin. Comparing employment levels in […]

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