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 January, down from 5.6% in the previous month. This is the seventh straight month home prices have fallen. The 20-City Composite posted a 2.5% year-over-year […]
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REAL WAGES HAVE FALLEN 3.7% 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. The Consumer Price Index (CPI) rose 0.4% in February from January and is up 6.0% in the last year. Despite trending up between January 2017 and January 2021, real […]
Read MoreHOME PRICES FELL IN FEBRUARY FOR FIRST TIME IN 11 YEARS
Key Points: Existing-home sales rose 14.5% in February from March, breaking the twelve-month streak of declining sales. Consensus among economists was a 0.7% decline. Existing-home sales fell 22.6% from one year ago. The median existing-home sales price decreased 0.2% from one year ago to $363,000, the first decline in more than a decade and breaking […]
Read MoreFOOD LEADS THE PRICE INCREASES IN THE LAST YEAR
Key Points: The Consumer Price Index (CPI) rose 0.4% in February from January and is up 6.0% in the last year. The core CPI, which excludes food and energy, rose 0.5% in February and is up 5.5% from the previous year. The overall food index rose 9.5%, food at home rose 10.2%, and food away […]
Read MoreCONSUMERS PULLED BACK SPENDING IN FEBRUARY
Key Points: Retail sales, a measure of purchases at stores, restaurants and online, fell 0.4% in February from January after rising 3.2% last month. Consensus among economists was a 0.3% decline. February’s decrease comes after the largest monthly gain in nearly two years in January, following two consecutive months of declines. Excluding autos, retail sales […]
Read MoreCONSUMER PRICES INCREASED 6.0% FROM YEAR AGO
Key Points: The Consumer Price Index (CPI) rose 0.4% in February after rising 0.5% in January. CPI increased 6.0% from a year ago, down from 6.4% in January, and the lowest reading since September 2021. The rate of price increases remained above 5% for the twenty-first straight month. The index for energy decreased 0.6% over […]
Read More11 STATES AND D.C. HAD UNEMPLOYMENT RATES ABOVE THE U.S. IN JANUARY
Key Points: Unemployment rates fell in 5 states, rose in 2 states and the District of Columbia, and remained stable in 43 states in January. The U.S. unemployment rate fell to 3.4% in January but rose to 3.6% in February. 11 states and the District of Columbia had unemployment rates above the U.S. average in […]
Read MoreU.S. ADDS 311,000 JOBS IN FEBRUARY
Key Points: Total nonfarm payroll employment rose by 311,000 in February as the unemployment rate rose to 3.6%. Consensus among economists was a gain of 205,000 jobs. In February, the unemployed population rose to 5.9 million but there were 10.8 million job openings in January. Leisure and hospitality added 105,000 jobs in February, employment in […]
Read MoreU.S. JOB OPENINGS FALL, LAYOFFS RISE IN JANUARY
Key Points: The number of available jobs since May 2021 continues to outnumber Americans looking for work. The tight labor market has pushed total job openings to nearly double the available workers this year, but hiring has slowed amid a broader economic slowdown. Job openings fell by 410,000 to 10.8 million in January after rising […]
Read MoreHIGHER STATE-LEVEL TAX RATES PREDICT POPULATION LOSSES
Key Points: In 2022, higher top tax rates on personal income predicted population losses. The map shows the top tax rate and the rate of population change for states with at least 5,000 population change. Arrows to the left indicate a population loss while arrows to the right indicate a population gain. In 2022, eight […]
Read MoreCRIME UP 33% UNDER MAYOR LORI LIGHTFOOT
Key Points: The Chicago Mayoral election is today, Tuesday February 28th, and crime has been a prevalent issue as Mayor Lori Lightfoot fights for re-election. Chicago Police Department statistics show that crime has risen 33% since Lightfoot took office. Comparing 2022 crimes to 2019, murders are up 39%, robberies are up 13%, theft is up […]
Read MoreU.S. DURABLE GOODS PLUNGED 4.5% IN JANUARY, LARGEST DECLINE SINCE COVID
Key Points: Orders for durable goods fell in January at the largest monthly rate since April 2020. Durable goods are products designed to last at least three years, such as computers and machinery. New orders for durable goods decreased 4.5% to $272.3 Billion in January from December, following a 5.1% increase in December. Consensus among […]
Read MoreCONSUMER PRICES JUMPED IN JANUARY ABOVE EXPECTATIONS
Key Points: U.S. consumer spending rose by 1.8%, or $312.5 Billion, in January, after falling 0.1% in January. Personal income increased by 0.6%, or $131.1 Billion, in January, up from 0.3% in December, but below the 0.9% consensus. The overall personal consumption expenditures price index rose 0.6% in January and is up 5.4% from a […]
Read MoreINFLATION REMAINED STUBBORNLY HIGH IN JANUARY
Key Points: The Consumer Price Index (CPI) rose 0.5% in January from December and is up 6.4% in the last year. The core CPI, which excludes food and energy, rose 0.4% in January and is up 5.6% from the previous year. The overall food index rose 10.1%, food at home rose 11.3%, and food away […]
Read MoreHOME SALES FALL FOR 12TH STRAIGHT MONTH
Key Points: Existing-home sales fell for the twelfth straight month to a seasonally adjusted annual rate of 4.00 million. Existing-home sales fell 0.7% in January from December and 36.9% from one year ago. Consensus among economists was a 0.1% increase. The median existing-home sales price climbed 1.3% from one year ago to $359,000. First-time buyers […]
Read MoreREAL WAGES FELL 1.8% IN LAST YEAR
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. The Consumer Price Index (CPI) rose 0.5% in January from December and is up 6.4% in the last year. Despite trending up between January 2017 and January 2021, real […]
Read MoreRETAIL SALES REBOUND IN JANUARY DESPITE INFLATION
Key Points: Retail sales, a measure of purchases at stores, restaurants and online, rose 3.0% in January from December after falling 1.1% last month. Consensus among economists was a 1.8% increase. January’s increase comes after two months of decline at the end of last year. Excluding autos, retail sales also rose by 2.3% over the […]
Read MoreINFLATION ROSE 0.5% IN JANUARY, HIGHEST RATE SINCE OCTOBER
Key Points: The Consumer Price Index (CPI) rose 0.5% in January after falling 0.1% in December. CPI increased 6.4% from a year ago, down from 6.5% in December, and the lowest reading since October 2021. The rate of price increases remained above 5% for the twentieth straight month. The index for energy decreased 2.0% over […]
Read MoreU.S. ADDS 517K JOBS IN JANUARY, BEATING EXPECTATIONS
Key Points: Total nonfarm payroll employment rose by 517,000 in January as the unemployment rate was little changed at 3.4%. Consensus among economists was a gain of 185,000 jobs. In January, the unemployed population was little changed at 5.7 million but there were 11 million job openings in December. Leisure and hospitality added 128,000 jobs […]
Read MoreU.S. JOB OPENINGS ROSE TO 11 MILLION IN DECEMBER
Key Points: The number of available jobs since May 2021 continues to outnumber Americans looking for work. The tight labor market has pushed total job openings to nearly double the available workers this year, but hiring has slowed amid a broader economic slowdown. Job openings rose by 572,000 to 11 million in December after falling […]
Read MoreHOME PRICES FELL IN NOVEMBER FOR THE FIFTH STRAIGHT MONTH
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 7.7% in the year that ended in November, down from 9.2% in the previous month. This is the fifth straight month home prices have fallen. The 20-City Composite posted a 6.8% year-over-year […]
Read MoreU.S. HOUSEHOLDS CUT SPENDING IN DECEMBER
Key Points: U.S. consumer spending fell by 0.2%, or $41.68 Billion, in December, after November was revised to a 0.1% decline. Personal income increased by 0.2%, or $49.5 Billion, in December, down from 0.3% in November. The overall personal consumption expenditures price index rose 0.1% in December and is up 5.0% from a year prior. […]
Read MoreUNION MEMBERSHIP HITS RECORD LOW
Key Points: The share of U.S. workers who are members of unions fell to a record low last year even though unions added more members than in any year since 2008. Roughly 10.1% of wage and salary workers were union members last year, down from 10.3% in 2021. Union membership grew by 273,000 last year […]
Read MoreEXISTING HOME SALES FELL 34% FROM ONE YEAR AGO
Key Points: Existing-home sales fell for the eleventh straight month to a seasonally adjusted annual rate of 4.02 million. Existing-home sales fell 1.5% in December from November and 34.0% from one year ago. Consensus among economists was a 5.4% drop. The median existing-home sales price climbed 2.3% from one year ago to $366,900. Existing-home sales […]
Read MoreU.S. RETAIL SALES FELL 1.1% IN DECEMBER, LARGEST DECLINE OF 2022
Key Points: Retail sales, a measure of purchases at stores, restaurants and online, fell 1.1% in December from November. Consensus among economists was a 0.8% decline. December’s 1.1% decline comes after a November was revised down to a 1.0% loss. Retail sales fell three of the last four months, and December’s decline was the largest […]
Read MoreINFLATION SLOWED IN DECEMBER, PRICES UP 6.5% IN LAST YEAR
Key Points: The Consumer Price Index (CPI) fell 0.1% in December. CPI increased 6.5% from a year ago, down from 7.1% in November, and the lowest reading since October 2021. The rate of price increases remained above 5% for the nineteenth straight month. The index for energy decreased 4.5% over the month while shelter increased […]
Read MoreDECEMBER HAD LOWEST JOB GAINS IN TWO YEARS
Key Points: After two straight years of record-setting payroll growth following the pandemic-related disruptions, the labor market is starting to show signs of stress. Total nonfarm payroll employment rose by 223,000 in December, the smallest gain in two years. Average hourly earnings were up 4.6% in December from the previous year, the narrowest increase since […]
Read MoreU.S. ADDS 223K JOBS IN DECEMBER
Key Points: Total nonfarm payroll employment rose by 223,000 in December as the unemployment rate edged down to 3.5%. Consensus among economists was a gain of 200,000 jobs. In December, the unemployed population fell to 5.7 million but there were 10.5 million job openings in November. Leisure and hospitality added 67,000 jobs in December, employment […]
Read MoreCONSUMER SPENDING ROSE MODESTLY IN NOVEMBER
Key Points: U.S. consumer spending rose by 0.1%, or $19.8 Billion, in November, down from 0.9% in October. Personal income increased by 0.4%, or $80.1 Billion, in November, down from 0.7% in October. The overall personal consumption expenditures price index rose 0.1% in November and is up 5.5% from a year prior. The core personal […]
Read MoreBUILDER CONFIDENCE DECLINED EVERY MONTH IN 2022
Key Points U.S. builder confidence fell again in December as the combination of high mortgage rates, elevated construction costs, and diminishing consumer demand due to the elevated home prices have dragged builder sentiment down for the entirety of 2022. The NAHB Housing Market index declined to a reading of 31 this month from 33 in […]
Read MoreRETAIL SALES FELL SHARPLY IN NOVEMBER
Key Points: Retail sales, a measure of purchases at stores, restaurants and online, fell 0.6% in November from October. Consensus among economists was a 0.1% decline. November’s 0.6% decline comes after a 1.3% gain in October. Excluding autos, retail sales fell by 0.2% over the month. Retail sales are up 7.7% from a year prior […]
Read MoreINFLATION EASED IN NOVEMBER, PRICES UP 7.1% IN LAST YEAR
Key Points: The Consumer Price Index (CPI) rose 0.1% in November. CPI increased 7.1% from a year ago, down from 7.7% in October, and the lowest reading since December 2021. Consensus among economists was a 7.3% increase. The rate of price increases remained above 5% for the eighteenth straight month. The index for shelter was […]
Read MoreHOUSEHOLD EMPLOYMENT SURVEY PAINTS A DIFFERENT PICTURE ON JOB GROWTH
Key Points: BLS’s survey of households registered a decline in employment of 138,000 in November from October. While the survey of employers registered a gain of 263,000 jobs, this is a contrast with the household survey.
Read MoreWHOLESALE PRICES ROSE 0.3% IN NOVEMBER, ABOVE EXPECTATIONS
Key Points: The Producer Price Index increased 0.3% in November from October. Consensus among economists was a 0.2% increase. The index rose 7.4% for the 12 months ended in November. Final demand prices moved up 0.4% in November, after increasing 0.1% in October. The index for final demand goods moved up 0.1% and final demand […]
Read MoreU.S. ADDS 263K JOBS IN NOVEMBER
Key Points: Total nonfarm payroll employment rose by 263,000 in November as the unemployment rate was unchanged at 3.7%. Consensus among economists was a gain of 200,000 jobs. In November, the unemployed population held steady at 6 million but there were 10.3 million job openings in October. Leisure and hospitality added 88,000 jobs in November, […]
Read MoreCONSUMER SPENDING SPIKED IN OCTOBER AS INFLATION EASED
Key Points: U.S. consumer spending rose by 0.8%, or $147.9 Billion, in October, up from 0.6% in September. Personal income increased by 0.7%, or $155.3 Billion, in October, up from 0.4% in September. The overall personal consumption expenditures price index rose 0.3% in October and is up 6.0% from a year prior. The core personal […]
Read MoreJOB OPENINGS FELL IN OCTOBER
Key Points: The number of available jobs since May 2021 continues to outnumber Americans looking for work. The tight labor market has pushed total job openings to nearly double the available workers this year, but hiring has slowed amid a broader economic slowdown. Job openings fell by 353,000 to 10.3 million in October after rising […]
Read MoreRETAIL SALES ROSE 1.3% IN OCTOBER AHEAD OF HOLIDAY SEASON
Key Points: Retail sales, a measure of purchases at stores, restaurants and online, rose 1.3% in October from September ahead of the holiday season while inflation slowed but prices remain high. Consensus among economists was a 1.0% gain. October’s 1.3% gain comes after no gains in September. Excluding autos, retail sales rose by 1.3% over […]
Read MoreSHELTER, FOOD, AND GASOLINE LED OCTOBER’S INFLATION
Key Points: The Consumer Price Index (CPI) rose 0.4% in October from September and is up 7.7% in the last year. The core CPI which excludes food and energy rose to 6.3% in October, down from 6.6% in September. The overall food index rose 10.9%, food at home rose 12.4%, and food away from home […]
Read MoreREAL WAGES HAVE FALLEN 2.8% IN LAST YEAR
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. The Consumer Price Index (CPI) rose 0.4% in October from September and is up 7.7% in the last year. Despite trending up between January 2017 and January 2021, real […]
Read MoreINFLATION EASED IN OCTOBER, PRICES UP 7.7% IN LAST YEAR
Key Points: The Consumer Price Index (CPI) rose 0.4% in October, the same reading as September. CPI increased 7.7% from a year ago, down from 8.2% in September. Consensus among economists was an 8.2% increase. The rate of price increases remained above 5% for the seventeenth straight month. Shelter, food, and gasoline indexes increased over […]
Read MoreU.S. ADDS 261K JOBS IN OCTOBER, UNEMPLOYMENT RATE RISES TO 3.7%
Key Points: Total nonfarm payroll employment rose by 261,000 in October as the unemployment rate rose to 3.7%. Consensus among economists was a gain of 200,000 jobs. In October, the unemployed population rose to 6 million but there were 10.7 million job openings in September. Employment in health care rose by 53,000 in October, professional […]
Read MoreJOB OPENINGS ROSE, HIRING FELL IN SEPTEMBER
Key Points: The number of available jobs since May 2021 continues to outnumber Americans looking for work. The tight labor market has pushed total job openings to nearly double the available workers this year, but hiring has slowed amid a broader economic slowdown. Job openings rose by 437,000 to 10.7 million in September, partially offsetting […]
Read MoreU.S. CONSUMERS INCREASED SPENDING IN SEPTEMBER, CORE PRICES UP 5.1%
Key Points: U.S. consumer spending rose by 0.6%, or $113.0 Billion, in September, the same reading as August. Personal income increased by 0.4%, or $78.9 Billion, in September, the same reading as July and August. The overall personal consumption expenditures price index rose 0.3% in September and is up 6.2% from a year prior. The […]
Read MoreU.S. HOME PRICES SLOWED IN AUGUST AT THE FASTEST PACE ON RECORD
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 13.0% in the year that ended in August, down from 15.6% in the previous month. The 2.6% decline in August from July is the the largest deceleration in the history of the […]
Read MoreUNEMPLOYMENT RATES ROSE IN 9 STATES IN SEPTEMBER
Key Points: Unemployment rates fell in 11 states and the District of Columbia, rose in 9 states, and remained stable in 30 states in September. The U.S. unemployment rate was slightly lower at 3.5% in September. 8 states and the District of Columbia have unemployment rates above the U.S. average. Minnesota has the lowest unemployment […]
Read MoreBUILDER CONFIDENCE DOWN 10 STRAIGHT MONTHS
Key Points U.S. builder confidence fell again in October as the combination of rising interest rates, building material bottlenecks, and elevated home prices continue to weaken the housing market. The NAHB Housing Market index declined to a reading of 38 this month from 46 in September. This is the tenth consecutive month that builder sentiment […]
Read MoreREAL WAGES HAVE FALLEN 3.0% IN LAST YEAR
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. The Consumer Price Index (CPI) rose 0.4% in September from August and is up 8.2% in the last year. Despite trending up between January 2017 and January 2021, real […]
Read MoreCORE INFLATION HITS NEW 4-DECADE HIGH
Key Points: The Consumer Price Index (CPI) rose 0.4% in September from August and is up 8.2% in the last year. The core CPI which excludes food and energy rose to 6.6% in September, the highest rate since August 1982. The overall food index rose 11.2%, food at home rose 13.0%, and food away from […]
Read MoreINFLATION EASED TO 8.2% IN SEPTEMBER, CORE INDEX REACHES NEW 4-DECADE HIGH
Key Points: The Consumer Price Index (CPI) rose 0.4% in September after rising 0.1% in August. CPI increased 8.2% from a year ago, down from 8.3% in July. Consensus among economists was an 8.1% increase. The rate of price increases remained above 5% for the sixteenth straight month. The core CPI, which excludes food and […]
Read MoreU.S. ADDS 263K JOBS IN SEPTEMBER
Key Points: Total nonfarm payroll employment rose by 263,000 in September as the unemployment rate edged down to 3.5%. Consensus among economists was a gain of 250,000 jobs. In September, the unemployed population fell to 5.75 million but there were 10.1 million job openings in August. Leisure and hospitality added 83,000 jobs in September, health […]
Read MoreJOB OPENINGS FELL BY 1.1 MILLION IN AUGUST
Key Points: The number of available jobs since May 2021 continues to outnumber Americans looking for work. The tight labor market has pushed total job openings to nearly double the available workers this year, but hiring has slowed amid a broader economic slowdown. Job openings fell by 1.1 million to 10.1 million in August, down […]
Read MoreCONSUMERS BOOSTED SPENDING IN AUGUST AS INFLATION SPREADS
Key Points: U.S. consumer spending rose by 0.4%, or $67.5 Billion, in August, up from -0.2% in July. Personal income increased by 0.3%, or $71.6 Billion, in August, the same reading as July. The overall personal consumption expenditures price index rose 0.3% in August and is up 6.2% from a year prior. The core personal […]
Read MoreHOME PRICES SEE FIRST MONTHLY DECLINE IN YEARS
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 15.8% in the year that ended in July, down from 18.1% in the previous month. However, the the Index fell 0.3% in July from June, the first month-over-month decline since January 2019. […]
Read MoreREAL WAGES HAVE FALLEN 2.8% IN LAST YEAR
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. The Consumer Price Index (CPI) rose 0.1% in August from July and is up 8.3% in the last year. Despite trending up between January 2017 and January 2021, real […]
Read MoreEXISTING HOME SALES FELL IN AUGUST FOR SEVENTH STRAIGHT MONTH
Key Points: Existing-home sales fell for the seventh straight month to a seasonally adjusted annual rate of 4.80 million. Existing-home sales fell 0.4% in August from July and 19.9% from one year ago. Consensus among economists was a 0.2% drop. The median existing-home sales price climbed 7.7% from one year ago to $389,500, but is […]
Read MoreBUILDER CONFIDENCE UNDERWATER AFTER FALLING FOR NINTH CONSECUTIVE MONTH
Key Points U.S. builder confidence fell again in September as the combination of elevated interest rates, persistent building material supply chain disruptions and high home prices continue to take a toll on affordability, according to NAHB. The NAHB Housing Market index declined to a reading of 46 this month from 49 in August. This is […]
Read MoreU.S. INFLATION REMAINED HIGH IN AUGUST, PRICE INCREASES BROAD
Key Points: The Consumer Price Index (CPI) rose 0.3% in August from July and is up 8.3% in the last year. The core CPI which excludes food and energy rose to 6.3% in August after holding at 5.9% in both June and July. The overall food index rose 11.4%, food at home rose 13.5%, and […]
Read MoreRETAIL SALES ROSE 0.3% IN AUGUST
Key Points: Retail sales, a measure of purchases at stores, restaurants and online, rose 0.3% in August from July as inflation remained near its highest level in more than 40 years. Consensus among economists was no change. August’s 0.3% gain comes after July was revised down from 0.0% to -0.4%. Excluding autos, retail sales fell […]
Read MoreINFLATION EASED TO 8.3% IN AUGUST, FOOD PRICES REMAIN AT 42-YEAR HIGH
Key Points: The Consumer Price Index (CPI) rose 0.1% in August after being unchanged in July. CPI increased 8.3% from a year ago, down from 8.5% in July. Consensus among economists was an 8.1% increase. The rate of price increases remained above 5% for the fifteenth straight month. The core CPI, which excludes food and […]
Read MoreU.S. ADDED 315K JOBS IN AUGUST, UNEMPLOYMENT RATE ROSE TO 3.7%
Key Points: Total nonfarm payroll employment rose by 315,000 in August as the unemployment rate rose to 3.7%. Consensus among economists was a gain of 300,000 jobs. In August, the unemployed population rose to 6 million but there were 11.2 million job openings in July. Professional and business services rose by 68,000 jobs, health care […]
Read MoreU.S. JOB OPENINGS ROSE IN JULY
Key Points: The number of available jobs since May 2021 continues to outnumber Americans looking for work. The tight labor market has pushed total job openings to nearly double the available workers this year, but hiring has slowed amid a broader economic slowdown. Job openings rose to 11.2 million in July, up from the upwardly […]
Read MoreHOME-PRICE GROWTH SLOWED 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 18% in the year that ended in June, down from 19.9% in the previous month. The 20-City Composite posted a 18.6% year-over-year gain, down from 20.5% in the previous month. The 10-City […]
Read MoreU.S. CONSUMERS SLOWED SPENDING IN JULY, INFLATION HISTORICALLY HIGH
Key Points: U.S. consumer spending rose by 0.1%, or $23.7 Billion, in July, down from 1.0% in June. Personal income increased by 0.2%, or $47.0 Billion, in July, down from 0.7% in June. The overall personal consumption expenditures price index fell 0.1% in July and is up 6.3% from a year prior. The core personal […]
Read MoreHIGHEST INCOME HOUSEHOLDS COMPRISE THE MAJORITY OF STUDENT LOAN DEBT
Key Points: The Survey of Consumer Finances (SFC) released data showing the student debt situation in America. The data show that 21.37% of Americans had student loan debt in 2019. The top 2 income quintiles account for 53.9% of student loan debt, leaving the bottom 3 income quartiles with 46.1% of student loan debt. Americans […]
Read MoreNEW HOME SALES FALL TO 6-YEAR LOW
Key Points: New home sales fell 12.6% in July from June to a seasonally adjusted 511K. New home sales dropped in June to the lowest level since January 2016. New home sales were 29.6% lower than July 2021. June sales were also revised down to 585K from 590K. The median sales price of new houses […]
Read MoreEXISTING HOME SALES FELL IN JULY FOR SIXTH STRAIGHT MONTH
Key Points: Existing-home sales fell for the sixth straight month to a seasonally adjusted annual rate of 4.81 million, the lowest rate since November 2015. Existing-home sales fell 5.9% in July from June and 20.2% from one year ago. Consensus among economists was a 0.2% drop. The median existing-home sales price climbed 10.8% from one […]
Read MoreRETAIL SALES FLAT IN JULY AS INFLATION SHIFTS CONSUMER SPENDING
Key Points: U.S. consumers shifted savings from falling gasoline prices to purchases of everyday goods as they weathered high inflation and a slowing economy in July. Retail sales, a measure of purchases at stores, restaurants and online, was unchanged in July from June as inflation remained near its highest level in more than 40 years. […]
Read MoreBUILDER CONFIDENCE UNDERWATER AFTER FALLING FOR EIGHTH CONSECUTIVE MONTH
Key Points U.S. builder confidence fell again in August as elevated interest rates, ongoing supply chain problems and high home prices continue to exacerbate housing affordability challenges, according to NAHB. The NAHB Housing Market index declined to a reading of 49 this month from 55 in July. This is the eighth consecutive month that builder […]
Read MoreREAL WAGES CONTINUE TO DECLINE, DOWN 3% IN LAST YEAR
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. The Consumer Price Index (CPI) was unchanged in July from June and is up 8.5% in the last year. Despite trending up between January 2017 and January 2021, real […]
Read MoreJULY INFLATION HOLDS STEADY, FOOD AND ELECTRICITY RISE
Key Points: The Consumer Price Index (CPI) was unchanged in July from June and is up 8.5% in the last year. Inflation was flat from June due to the falling costs of gasoline and the rising costs of food and electricity. The overall food index rose 10.9%, food at home rose 13.1%, and food away […]
Read MoreINFLATION COOLED IN JULY, REMAINS NEAR 40-YEAR HIGH
Key Points: The Consumer Price Index (CPI) was unchanged in July after rising 1.3% in June. CPI increased 8.5% from a year ago, down from 9.1% in June, the highest reading since the period ending November 1981. Prices remained above 5% for the fourteenth straight month. The core CPI, which excludes food and energy, rose […]
Read MoreU.S. ADDED 528K JOBS IN JULY
Key Points: Total nonfarm payroll employment rose by 528,000 in July as the unemployment rate fell slightly to 3.5%. Consensus among economists was a gain of 250,000 jobs. In July, the unemployed population fell to 5.7 million but there were 10.7 million job openings in June. Employment in leisure and hospitality rose by 96,000 jobs, […]
Read MoreHIRING DEMAND FALLS IN JUNE, JOB OPENINGS STILL DOUBLE AVAILABLE WORKERS
Key Points: The number of available jobs since May 2021 continues to outnumber Americans looking for work. The tight labor market has pushed total job openings to nearly double the available workers this year, but hiring has slowed amid a broader economic slowdown. Job openings decreased to 10.7 million in June, down from 11.3 million […]
Read MoreCONSUMER SPENDING ROSE IN JUNE, PRICES REMAIN HIGH
Key Points: U.S. consumer spending rose by 1.1%, or $32.7 Billion, in June. Personal income increased by 0.6%, or $133.5 Billion, in June, the same reading as May. The overall personal consumption expenditures price index rose 1% in June and is up 6.8% from a year prior. The core personal consumption expenditures price index, which […]
Read MoreNEW HOME SALES FELL TO 2-YEAR LOW IN JUNE
Key Points: New home sales fell 8.1% in June from May to a seasonally adjusted 590K. New home sales dropped in June to the lowest level since April 2020. May sales were also revised down to 642K from 696K. The volume of new single‐family home sale are down 17.4% from a year ago. The Right […]
Read MoreREAL WAGES CONTINUE TO DECLINE SINCE JANUARY 2021, DOWN 3.6% IN LAST YEAR
Key Points: Real average hourly earnings are hourly earnings adjusted for inflation. They are one measure of real wages, which represent the economic return to work. Despite trending up between January 2017 and January 2021, real wages have trended down since January 2021. Real average hourly earnings have fallen from $33.27 in June 2021 to […]
Read MoreU.S. HOME PRICES HIT RECORD $416K IN JUNE, SALES CONTINUE TO SLIDE
Key Points: Existing-home sales fell for the fifth straight month to a seasonally adjusted annual rate of 5.12 million. Existing-home sales fell 5.4% in June from May and 14.2% from one year ago. At $416,000, the median existing-home sales price is the highest on record, after passing $400,000 for the first time in May. The […]
Read MoreINFLATION ACCELERATED TO 9.1% IN JUNE, LED BY GASOLINE
Key Points: The Consumer Price Index (CPI) increased 1.3% in June and is up 9.1% in the last year, the highest reading since 1981. Price increases in the last year have been broad, impacting businesses and consumers. The overall food index rose 10.4%, food at home rose 12.2%, and food away from home rose 7.7% […]
Read MoreRETAIL SALES ROSE 1% IN JUNE AS PRICES REACH FOUR-DECADE HIGH
Key Points: Retail sales, a measure of purchases at stores, restaurants and online, rose by 1.0% in June as inflation reached its highest level in more than 40 years. Consensus among economists was a 0.8% increase. June’s 1% gain comes after May was revised from -0.3% to -0.1%. Excluding autos, retail sales rose by 1.0% […]
Read MoreINFLATION HITS NEW 40-YEAR HIGH, UP 9.1% IN LAST YEAR
Key Points: The Consumer Price Index (CPI) increased 1.3% in June after rising 1.0% in May. CPI increased 9.1% from a year ago, the highest reading since the period ending November 1981. Prices remained above 5% for the thirteenth straight month. The core CPI, which excludes food and energy, rose 0.7% in June and is […]
Read MoreU.S. ADDS 372K JOBS IN JUNE, UNEMPLOYMENT RATE HOLDS AT 3.6%
Key Points: Total nonfarm payroll employment rose by 372,000 in June as the unemployment rate was unchanged at 3.6%. Consensus among economists was a gain of 268,000 jobs. June’s job growth is the lowest since April 2021. In June, the unemployed population was essentially unchanged at 5.9 million but there were 11.3 million job openings […]
Read MoreHIRING DEMAND REMAINS STRONG IN MAY
Key Points: The number of available jobs since May 2021 continues to outnumber Americans looking for work. Job openings decreased to 11.3 million in May, down from 11.4 million in April, and the record high 11.9 million in March. The U.S. added 390,000 jobs in May but there were 5.95 million people unemployed. In May, […]
Read MoreCONSUMER SPENDING SLOWED IN MAY
Key Points: U.S. consumer spending rose by 0.2%, or $32.7 Billion, in May, down from 0.6% in April. Personal income increased by 0.5%, or $113.4 Billion, in May, the same reading as April. The overall personal consumption expenditures price index rose 0.6% in May and is up 6.3% from a year prior. The core personal […]
Read MoreHOME PRICES UP 20.4% IN LAST YEAR
Key Points: The S&P CoreLogic Case-Shiller National Home Price Index, which measures average home prices in major metropolitan areas across the nation, rose 20.4% in the year that ended in April, down from 20.6% in the previous month. The 20-City Composite posted a 21.2% year-over-year gain, up from 21.1% in the previous month. The 10-City […]
Read MoreINFLATION UPTICK BEGAN BEFORE RUSSIA INVADED UKRAINE
Key Points: Despite claims by the current administration that inflation is caused by the Russian invasion of Ukraine, dubbed the “Putin Price Hike”, which was used as recently as June 22, data show the rise in prices began much earlier. As the chart shows, there was an uptick in inflation starting in January of 2021, […]
Read MoreMEDIAN EXISTING-HOME SALES PRICE TOPS $400K FOR THE FIRST TIME EVER
Key Points: Existing-home sales fell for the fourth straight month to a seasonally adjusted annual rate of 5.41 million. Existing-home sales fell 3.4% in May from April and 8.6% from one year ago. Consensus among economists was a 0.2% drop. At $407,600, the median existing-home sales price exceeded $400,000 for the first time and represents […]
Read More9 STATES SET SERIES LOW UNEMPLOYMENT RATES IN MAY
Key Points: Unemployment rates fell in 16 states and remained stable in 34 states and the District of Columbia in May. The U.S. unemployment rate was unchanged again over the month at 3.6% in May. 9 states and the District of Columbia have unemployment rates above the U.S. average. Nebraska has the lowest unemployment rate […]
Read MoreRETAIL SALES FALL AS PRICES RISE
Key Points: Retail sales, a measure of purchases at stores, restaurants and online, fell by 0.3% in May as inflation reached its highest level in more than 40 years. Consensus among economists was a 0.2% increase. May’s 0.3% decline comes after April was revised down to 0.7% from 0.9%. Excluding autos, retail sales rose by […]
Read MoreS&P 500, DOW JONES, AND NASDAQ LOSE ALL GAINS UNDER BIDEN
Key Points: The S&P 500 closed down 151 points at 3,749.84 on Monday, notably below the 3,798.91 level, which is where it closed on Jan. 19, 2021. The Dow Jones index also fell below the pre-inauguration levels of 31,930 to 30,516 on Monday. The Nasdaq index fell below the pre-inauguration levels of 13,197 long ago. […]
Read MoreFOOD AND ENERGY PUSHING INFLATION TO 40 YEAR HIGH
Key Points: The Consumer Price Index (CPI) increased 1.0% in May and is up 8.6% in the last year, the highest reading since 1981. Price increases in the last year have been broad, impacting businesses and consumers. The overall food index rose 10.1%, food at home rose 11.9%, and food away from home rose 7.4% […]
Read MoreAVERAGE GAS PRICES TOP $5 FOR THE FIRST TIME EVER
Key Points: The national average price of a gallon of gas has surpassed $5 for the first time ever. Overall, the price of a gallon of regular gas has increased from $3.08 one year ago to $5.01 today. The price of gas has increased $0.15 in the last week, $0.58 in the last month, and […]
Read MoreINFLATION REACHES FOUR-DECADE HIGH
Key Points: The Consumer Price Index (CPI) increased 1.0% in May after rising 0.3% in April. CPI increased 8.6% from a year ago, the highest reading since December 1981. Prices remained above 5% for the twelfth straight month. The core CPI, which excludes food and energy, rose 0.6% in May and is up 6% from […]
Read MoreGAS PRICES HAVE DOUBLED SINCE BIDEN TOOK OFFICE
Key Points: The national average price of a gallon of gas has consistently increased to the highest level on record at $4.87. Gas prices have doubled since Biden was inaugurated on Jan 20, 2021 when gas prices were $2.39. Overall, the price of a gallon of regular gas has increased from $3.05 one year ago […]
Read MoreJOB GROWTH SLOWED IN MAY
Key Points: Total nonfarm payroll employment rose by 390,000 in May as the unemployment rate was unchanged at 3.6%. Consensus among economists was a gain of 325,000 jobs. May’s job growth is the lowest since April 2021. In May, the unemployed population was essentially unchanged at 5.95 million but there were 11.4 million job openings […]
Read MoreLABOR SHORTAGE PERSISTS IN APRIL
Key Points: The number of available jobs since May 2021 continues to outnumber Americans looking for work. Job openings slipped to 11.4 million in April after reaching a record high 11.9 million in March. The U.S. added 428,000 jobs in April but there were 5.9 million people unemployed. In March, the number of hires was […]
Read MoreSPENDING ROSE IN APRIL DESPITE HIGH INFLATION
Key Points: U.S. consumer spending rose by 0.9%, or $152.3 Billion, in April. Personal income increased by 0.4%, or $89.3 Billion, in April. The overall personal consumption expenditures price index rose 0.2% in April and is up 6.3% from a year prior. The core personal consumption expenditures price index, which excludes food and energy, rose […]
Read MoreNEW HOME SALES PLUNGE IN APRIL
Key Points: New home sales fell 16.6% in April from March to a seasonally adjusted 591K. Consensus among economists was a 3.4% drop. New home sales dropped for the fourth consecutive month. March sales were also revised down to 709K from 763K. The volume of new single‐family home sale are down 16.6% from the March […]
Read More10 STATES AND D.C. HAVE UNEMPLOYMENT RATES ABOVE U.S. AVERAGE
Key Points: Unemployment rates fell in 13 states and the District of Columbia and remained stable in 37 states in April. The U.S. unemployment rate was unchanged over the month at 3.6% in April. 10 states and the District of Columbia have unemployment rates above the U.S. average. Nebraska and Utah have the lowest unemployment […]
Read MoreGAS PRICES BREAK RECORD HIGHS FOR PAST 11 DAYS
Key Points: The national average price of a gallon of gas has increased to the highest level on record for the 11th consecutive day to $4.59. For the first time ever, every state has gas prices above $4. Gas prices have hit new record highs every day since May 9th. This recent trend comes after […]
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