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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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CONSUMER SPENDING STALLED IN MAY

Key Points: U.S. consumer spending rose by 0.1%, or $18.9 Billion, in May, after rising 0.6% in April. Personal income increased by 0.4%, or $91.2 Billion, in May, after rising 0.3% in April. The overall personal consumption expenditures price index rose 0.1% in May and is up 3.8% from a year prior. The core personal […]

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U.S. HOME PRICES POST FIRST ANNUAL DECLINE SINCE 2012

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 0.2% in the year that ended in April, down from 0.7% increase in the previous month. Before seasonal adjustment, the U.S. National Index posted a 1.3% month-over-month increase in April, while the […]

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7 STATES SET RECORD LOW UNEMPLOYMENT IN MAY

Key Points: Unemployment rates fell in 11 states and remained stable in 39 states and the District of Columbia in May. The U.S. unemployment rate increased to 3.7% in May. Nine states and the District of Columbia had unemployment rates above the U.S. average in May. Seventeen states had jobless rate decreases from a year […]

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REAL WAGES HAVE FALLEN 3.2% UNDER BIDEN

Key Points: Real average hourly earnings are hourly earnings adjusted for inflation. They are one measure of real wages, which represent the economic return to work. Despite average hourly earnings trending up, wages are lower after adjusting for inflation. The Consumer Price Index (CPI) rose 0.1% in May from April and is up 4.0% in […]

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CONSUMER SPENDING ROSE 0.3% IN MAY

Key Points: Retail sales, a measure of purchases at stores, restaurants and online, rose 0.3% in May from April after rising 0.4% in May. Consumers spent more at most categories of retailers, including grocery, furniture and electronics stores. Excluding autos, retail sales also rose by 0.4% over the month. Retail sales were 1.6% above May […]

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U.S. ADDS 339K JOBS IN MAY

Key Points: Total nonfarm payroll employment rose by 339,000 in May and the unemployment rate rose to 3.7%. Consensus among economists was a gain of 190,000 jobs. Among the major worker groups, the unemployment rates for adult women (3.3%) and Blacks (5.6%) rose in May. Professional and business services added 64,000 jobs in May, government […]

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HOME PRICES ROSE IN MARCH FOR THE SECOND 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 0.7% in the year that ended in March, down from 2.1% in the previous month. The National Home Price Index rose 0.4% in March from April for the second straight month on […]

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CONSUMER SPENDING JUMPS IN APRIL, PRICES REMAIN ELEVATED

Key Points: U.S. consumer spending rose by 0.8%, or $151.7 Billion, in April, after rising 0.1% in March. Personal income increased by 0.4%, or $80.1 Billion, in April, after rising 0.3% in March. The overall personal consumption expenditures price index rose 0.4% in April and is up 4.4% from a year prior. The core personal […]

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YOUR MEMORIAL DAY BBQ WILL COST 10.6% MORE THAN LAST YEAR

Key Points: While inflation is down from the Summer 2022 peak, Americans are still feeling the impact of higher prices. The costs were determined for 10 people consuming one plate of food. One plate consists of 4 oz. burger with lettuce, tomato, and bun, a hotdog, baked beans, potato salad, potato chips, vanilla ice cream, […]

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10 STATES SET RECORD LOW UNEMPLOYMENT IN APRIL

Key Points: Unemployment rates fell in 14 states and remained stable in 36 states and the District of Columbia in April. The U.S. unemployment rate was little changed at 3.4% in April. Eight states and the District of Columbia had unemployment rates above the U.S. average in April. South Dakota had the lowest unemployment rate […]

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REAL WAGES HAVE FALLEN 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 lower after adjusting for inflation. The Consumer Price Index (CPI) rose 0.4% in April from March and is up 4.9% in […]

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JOB OPENINGS FALL TO TWO-YEAR LOW

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, but hiring has slowed amid a broader economic slowdown. Job openings fell by 384,000 to 9.6 million in March, the lowest since May […]

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INFLATION GAUGE SHOWS CORE PRICES REMAIN ELEVATED

Key Points: U.S. consumer spending rose by less than 0.1%, or $8.2 Billion, in March, after rising 0.1% in February. Personal income increased by 0.3%, or $67.9 Billion, in March, the same rate as February. The overall personal consumption expenditures price index rose 0.1% in March and is up 4.2% from a year prior. The […]

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MOODY’S CRITIQUE OF SPEAKER MCCARTHY’S BUDGET: INCORRECT AND ABSURD

Economist Corner A recent report by Moody’s Analytics that the Budget now before the House would cost 780,000 jobs. These claims are flagrantly wrong and misleading. The economics behind them are highly dubious. For starters, the analysis reflects speculation about what Republicans will do, rather than the legislation put forward by Speaker McCarthy. “While not stipulated in […]

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SEVEN STATES SET RECORD LOW UNEMPLOYMENT IN MARCH

Key Points: Unemployment rates fell in 18 states, rose in the District of Columbia, and remained stable in 32 states in March. The U.S. unemployment rate was little changed at 3.5% in March. Nine states and the District of Columbia had unemployment rates above the U.S. average in March. South Dakota had the lowest unemployment […]

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HOME PRICES POST LARGEST DECLINE IN 11 YEARS

Key Points: Existing-home sales fell 2.4% in March from February and 22.0% from one year ago. The median existing-home sales price decreased 0.9% from one year ago to $375,700, the largest decline in 11 years. Existing-home sales in the Northeast were unchanged from February, but down 21.2% from March 2022. The median price in the […]

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EXISTING HOME SALES SLID 2.4% IN MARCH

Key Points: Existing-home sales fell 2.4% in March from February to a seasonally adjusted annual rate of 4.44 million. Consensus among economists was a 1.5% increase. Existing-home sales fell 22.0% from one year ago. The median existing-home sales price decreased 0.9% from one year ago to $375,700. First-time buyers were responsible for 28% of sales […]

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BUILDER SENTIMENT TRENDING UP, REMAINS UNDERWATER

Key Points U.S. builders remained cautiously optimistic in April as limited resale inventory helped to increase demand in the new home market even as the industry continues to grapple with building material issues. The NAHB Housing Market index rose one point to a reading of 45 this month from 44 in March. The HMI index […]

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RETAIL SALES FALL 1% OVER THE MONTH, MISSING EXPECTATIONS

Key Points: Retail sales, a measure of purchases at stores, restaurants and online, fell 1.0% in March from February after last month was revised to a 0.2% decline. Consensus among economists was a 0.4% decline. Excluding autos, retail sales also fell by 0.8% over the month. Total sales for the January 2023 through March 2023 […]

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INFLATION EASED IN MARCH, CORE PRICES REMAIN ELEVATED

Key Points: The Consumer Price Index (CPI) rose 0.1% in March after rising 0.4% in February. CPI increased 5.0% from a year ago, down from 6.0% in February, and the lowest reading since May 2021. The rate of price increases remained above 5% for the twenty-second straight month. The index for energy decreased 3.5% over […]

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U.S. ADDED 236,000 JOBS IN MARCH, BELOW EXPECTATIONS

Key Points: Total nonfarm payroll employment rose by 236,000 in March as the unemployment rate changed little at 3.5%. Consensus among economists was a gain of 240,000 jobs. In March, the unemployed population dipped to 5.8 million but job openings fell to 9.9 million in February. Leisure and hospitality added 72,000 jobs in March, government […]

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JOB OPENINGS FELL UNEXPECTEDLY IN FEBRUARY

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 632,000 to 9.9 million in February after January […]

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HOME PRICES TREND DOWN FOR SEVENTH CONSECUTIVE 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 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 […]

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HOME 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 […]

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FOOD 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 […]

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CONSUMERS 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 […]

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CONSUMER 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 […]

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U.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 […]

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U.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 […]

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HIGHER 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 […]

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CRIME 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 […]

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CONSUMER 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 […]

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INFLATION 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 […]

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HOME 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 […]

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REAL 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 […]

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RETAIL 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 […]

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U.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 […]

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U.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 […]

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HOME 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 […]

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U.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. […]

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UNION 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 […]

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EXISTING 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 […]

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INFLATION 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 […]

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DECEMBER 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 […]

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U.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 […]

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CONSUMER 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 […]

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BUILDER 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 […]

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RETAIL 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 […]

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INFLATION 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 […]

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U.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, […]

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CONSUMER 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 […]

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JOB 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 […]

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RETAIL 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 […]

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REAL 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 […]

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INFLATION 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 […]

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JOB 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 […]

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UNEMPLOYMENT 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 […]

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BUILDER 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 […]

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REAL 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 […]

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CORE 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 […]

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