Key Points: The Pending Home Sales Index (PHSI) – a forward-looking indicator of home sales based on contract signings – rose 1.1% to 72.6 in September. Year over year, pending transactions declined 11%. An index of 100 is equal to the level of contract activity in 2001. Month over month, contract signings increased in the […]
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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 […]
Read MoreHOME 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 […]
Read MoreRETAIL 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 […]
Read MoreREAL 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% […]
Read MorePRICES 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 […]
Read MoreU.S. ADDED 336K JOBS IN SEPTEMBER, UNEMPLOYMENT RATE UNCHANGED AT 3.8%
Key Points: Total nonfarm payroll employment rose by 336,000 in September and the unemployment rate was unchanged at 3.8%. Consensus among economists was a gain of 170,000 jobs. The change in total nonfarm payroll employment for July was revised up by 79,000, from +157,000 to +236,000, and the change for August was revised up by […]
Read MoreU.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 […]
Read MorePRICES 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 […]
Read MoreU.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 […]
Read MoreAUGUST HOME SALES CONTINUE DECLINE, PRICES REMAIN AT RECORD HIGHS
Key Points: Existing-home sales fell 0.7% in August from July to a seasonally adjusted annual rate of 4.04 million. Existing-home sales fell 15.3% from one year ago. The median existing-home sales price for August rose 3.9% from one year ago to $407,100. This is the fifth time the monthly median sales prices eclipsed $400,000 and […]
Read MoreU.S. POVERTY RATE ROSE IN 2022 FOR FIRST TIME IN 13 YEARS, CHILD POVERTY DOUBLED
Key Points: In 2022, the U.S. poverty rate increased 4.6% from 2021 to 12.4% according to the Supplemental Poverty Measure (SPM), which looks at government programs and tax credits designed to help low-income families. This was the first increase in the poverty rate in 13 years. The poverty rate among children more than doubled from […]
Read MoreUNEMPLOYMENT 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, […]
Read MoreREAL 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% […]
Read MoreINFLATION 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 […]
Read MoreREVISIONS 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 […]
Read MoreLABOR 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 […]
Read MoreU.S. UNEMPLOYMENT RATE JUMPS TO 3.8%, MORE DOWNWARD REVISIONS
Key Points: Total nonfarm payroll employment rose by 187,000 in August and the unemployment rate rose to 3.8%. Consensus among economists was a gain of 170,000 jobs. The change in total nonfarm payroll employment for June was revised down by 80,000, from +185,000 to +105,000, and the change for July was revised down by 30,000, […]
Read MoreU.S. CONSUMER SPENDING JUMPED IN JULY, INCOME GAINS REMAIN LOW
Key Points: U.S. consumer spending rose by 0.8%, or $144.6 billion, in July, after rising 0.6% in June. Personal income increased by 0.2%, or $45.0 billion, in July, after rising 0.3% in June. The overall personal consumption expenditures price index rose 0.2% in July and is up 3.3% from a year prior. The core personal […]
Read MoreJOB 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 […]
Read MoreU.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 […]
Read More11 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 […]
Read MoreGAS 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 […]
Read MoreRETAIL SALES ROSE 0.7% IN JULY, CHANGE FROM LAST YEAR MIRRORS INFLATION
Key Points: Retail sales, a measure of purchases at stores, restaurants and online, rose 0.7% in July from June. Consensus among economists was a 0.4% increase. The May to June percent change was revised up to 0.3% from 0.2%. Excluding autos, retail sales rose by 1.0% over the month. Retail sales were 3.2% above July […]
Read MoreREAL 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 […]
Read MoreINFLATION REMAINS BROAD, DESPITE DECLINES IN ENERGY PRICES
Key Points: The Consumer Price Index (CPI) rose 0.2% in July from June and is up 3.2% in the last year. The core CPI, which excludes food and energy, rose 0.2% in July and is up 4.7% from the previous year. The overall food index rose 4.9%, food at home rose 3.2%, and food away […]
Read MoreINFLATION INCREASED IN JULY AFTER YEARLONG SLOWDOWN
Key Points: The Consumer Price Index (CPI) rose 0.2% in July, the same reading as June. CPI increased 3.2% from a year ago, up from 3.0% in June, and the first increase since June 2022. The index for energy rose 0.1% over the month, food rose 0.2%, and shelter increased by 0.4% over the month. […]
Read MoreU.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 […]
Read MoreJOB 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), […]
Read MoreU.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 […]
Read MoreHOME 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, […]
Read MoreNINE 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 […]
Read MoreEXISTING-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% […]
Read MoreRETAIL 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 […]
Read MoreREAL 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 […]
Read MoreINFLATION 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 […]
Read MoreVIOLENT 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. […]
Read MoreU.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 […]
Read MoreJOB 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 […]
Read MoreEXCLUDING 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 […]
Read MoreCONSUMER 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 […]
Read MoreU.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 […]
Read MoreDON’T BE FOOLED BY ANNUAL CHANGE IN INFLATION, PRICES ARE UP 15.5% UNDER BIDEN
Key Points: The Consumer Price Index (CPI) is a measure of the average change over time in the prices paid by consumers for goods and services. The Consumer Price Index (CPI) rose 0.1% in May and increased 4.0% from a year ago. While this appears to be a slowdown from the peak of 9.1% in […]
Read More7 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 […]
Read MoreREAL 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 […]
Read MoreCONSUMER 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 […]
Read MoreINFLATION CUT IN HALF FROM LAST YEAR’S PEAK, CORE PRICES STILL HIGH
Key Points: The Consumer Price Index (CPI) rose 0.1% in May after rising 0.4% in April. CPI increased 4.0% from a year ago, down from 4.9% in April, and the lowest reading since April 2021. The index for energy decreased 3.6% over the month, food rose 0.2%, and shelter increased by 0.6% over the month. […]
Read MoreJOB OPENINGS FELL NATIONALLY IN MARCH, BUT STATE VARIATION PERSISTS
Key Points: Job openings rates fell in 15 states and increased in one state and the District of Columbia in March. The number of job openings decreased in 18 states, increased in 4 states and the District of Columbia, and was little changed in 28 states in March. The largest decreases in the job openings […]
Read MoreU.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 […]
Read MoreJOB OPENINGS INCREASED IN APRIL, REVERSING THREE MONTHS OF DECLINE
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 increased by 358,000 to 10.1 million in April, the highest since January […]
Read MoreHOME 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 […]
Read MoreCONSUMER 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 […]
Read MoreYOUR 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, […]
Read More10 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 […]
Read MoreEXISTING-HOME SALES FELL 3.4% IN APRIL AND 23.2% IN LAST YEAR
Key Points: Existing-home sales fell 3.4% in April from March and 23.2% from one year ago. The median existing-home sales price decreased 1.7% from one year ago to $388,800. Existing-home sales in the Northeast fell 1.9% from March and 23.9% from April 2022. The median price in the Northeast was $422,700, up 2.8% from the […]
Read MoreRETAIL SALES RISE 0.4% OVER THE MONTH, MISSING EXPECTATIONS AGAIN
Key Points: Retail sales, a measure of purchases at stores, restaurants and online, rose 0.4% in April from March after last month was revised to a 0.7% decline. Consensus among economists was a 0.7% increase. Excluding autos, retail sales also rose by 0.4% over the month. Retail sales were 1.6% above April 2022 and total […]
Read MoreREAL 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 […]
Read MoreINFLATION EASED TO 4.9% IN APRIL, CORE PRICES REMAIN ELEVATED
Key Points: The Consumer Price Index (CPI) rose 0.4% in April after rising 0.1% in March. CPI increased 4.9% from a year ago, down from 5.0% in March, and the lowest reading since April 2021. The rate of price increases fell below 5% after twenty-two consecutive months. The index for energy decreased 3.5% over the […]
Read MoreLABOR QUALITY THE TOP PROBLEM FOR SMALL BUSINESSES, FOLLOWED BY INFLATION
Key Points: The NFIB Small Business Optimism Index declined in April to 89.0, down 1.1 from March. This marks the 16th consecutive month below the 49-year average of 98. Consensus among economists on the January index was a decline of 0.5 to 89.6. 23% of owners reported that inflation was their single most important problem […]
Read MoreU.S. ADDED 253K JOBS IN APRIL, REVISIONS CUT GAINS FROM PREVIOUS MONTHS
Key Points: Total nonfarm payroll employment rose by 253,000 in April as the unemployment rate fell to 3.4%. Consensus among economists was a gain of 179,000 jobs. The change in total nonfarm payroll employment for February was revised down by 78,000 to 248,000, and the change for March was revised down by 71,000 to 165,000. […]
Read MoreJOB 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 […]
Read MoreINFLATION 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 […]
Read MoreMOODY’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 […]
Read MoreSEVEN 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 […]
Read MoreHOME 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 […]
Read MoreEXISTING 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 […]
Read MoreBUILDER 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 […]
Read MoreRETAIL 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 […]
Read MoreGETTING BEEF: AMERICANS NEED TO WORK 25% LONGER TO BUY GROUND BEEF SINCE BIDEN TOOK OFFICE
Key Points: As of February 2023, the most recent data on the price of beef, the average worker needs to work for 8 minutes and 40 seconds in order to pay for a pound of ground beef. One year ago, a pound of ground beef cost a worker 8 minutes and 17 seconds worth of […]
Read MoreINFLATION 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 […]
Read MoreU.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 […]
Read MoreJOB 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 […]
Read MoreKEY INFLATION GAUGE ROSE 0.3% IN FEBRUARY, SPENDING MODERATES
Key Points: U.S. consumer spending rose by 0.2%, or $27.9 Billion, in February, after rising 2.0% in January. Personal income increased by 0.3%, or $72.9 Billion, in February, down from 0.6% in January. The overall personal consumption expenditures price index rose 0.3% in February and is up 5.0% from a year prior. The core personal […]
Read MoreAMERICANS NEED TO WORK 2X LONGER TO AFFORD EGGS
Key Points: As of March 2023, on average, a worker needed to work for 7 minutes and 19 seconds in order to pay for a dozen eggs. A year ago, a dozen eggs cost a worker 3 minutes and 32 seconds worth of wages. That’s around half of the time they need to spend now. […]
Read MoreHOME 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 […]
Read MoreREAL 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 […]
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