Key Points: Unemployment rates fell in 27 states and the District of Columbia, rose in 1 state, and remained stable in 22 states in September. The U.S. unemployment rate fell by 0.4% over the month to 4.8%. 16 states and the District of Columbia have unemployment rates above the U.S. average. Nebraska has the lowest […]

Key Points: Industrial production in the U.S. declined in September as supply-chain disruptions in the auto industry and lingering effects of Hurricane Ida weighed on manufacturing and mining output during the month. Industrial production, which includes output at factory, mining and utility companies, fell 1.3% in September from the previous month. September’s decline is the […]

Key Points: The number of available jobs since May continues to outnumber Americans looking for work. Job openings reached 10.4 million in August but there were 7.7 million people unemployed in September. The U.S. added 194,000 jobs in September but there were 5.7 million fewer jobs than there were in February 2020. In August, the […]

Key Points: Total nonfarm payroll employment rose by 194,000 in September as the unemployment rate fell 0.4% to 4.8%. Consensus among economists was a gain of 500,000 jobs. This is the lowest gains since December 2020. Nonfarm employment is down by 5.7 Million from pre-pandemic levels in February 2020. Employment in retail trade increased by […]

The Claim The headline on Bloomberg and elsewhere was that US household income went down in 2020 and poverty rose. USA Facts, a “non-partisan” provider of data described it this way. “Median household income decreased 2.9%, dropping from $69,560 in 2019 to $67,521 in 2020. By the end of 2020, there were 3.3 million more […]

Key Points: The FBI released data showing that violent crime increased 5.6% overall in 2020. In 2020, there were an estimated 1,277,696 violent crimes. Motor Vehicle thefts rose 11.8%, aggravated assault offenses rose 12.1%, and murder and non-negligent manslaughter offenses increased 29.4%. There were 38,520 homicide incidents reported in 2020, compared to 27,908 in 2019. […]

Key Points: August existing-home sales posted a 2% decline from July, the biggest monthly decline since April. Sales last month also slid 1.5% from a year earlier, the first year-over-year decrease since June 2020. Recent home sales have hovered between about 5.8 million and 6 million, a noticeable pullback from the recent peak of 6.73 […]

Key Points: Unemployment rates fell in 15 states and the District of Columbia and remained stable in 35 states in August. The U.S. unemployment rate fell by 0.2% over the month to 5.2%, and is 3.2% lower than August 2020. 13 states and the District of Columbia have unemployment rates above the U.S. average. Nebraska […]

Key Points: Retail sales, a measure of purchases at stores, restaurants and online, rose by 0.7% in August over the month. Consensus among economists was a 0.8% decline. Excluding autos, retail sales rose by 1.8% over the month. July’s retail sales were revised from a 1.1% decline to a 1.8% decline. The Right Facts will […]

Key Points: The Producer Price Index increased 0.7% in August from July. The index rose 8.3% for the 12 months ended in August, the largest advance on record dating back to 2010. Final demand prices moved up 1.0% in July, the same as in June. Leading the August increase in the index for final demand, […]

Key Points: The number of available jobs since May continues to outnumber Americans looking for work. Job openings reached 10.9 million in July but there were 8.4 million people unemployed in August. The U.S. added 235,000 jobs in August but there were 5.7 million fewer jobs than there were in February 2020. July’s 10.9 million […]

Key Points: Total nonfarm payroll employment rose by 235,000 in August as the unemployment rate fell 0.2% to 5.2%. Consensus among economists was a gain of 720,000 jobs. This is the seventh month of job gains after payrolls fell steeply in December. Nonfarm employment is down by 5.7 Million from pre-pandemic levels in February 2020. […]

Key Points: U.S. home prices rose to record highs in June. The S&P CoreLogic Case-Shiller National Home Price Index, which measures average home prices in major metropolitan areas across the nation, rose 18.6% in the year that ended in June. The 20-City Composite posted a 19.1% year-over-year gain, up from 17.1% in the previous month. […]

Key Points: Consumer confidence fell 11.3 points in August to 113.8, the lowest since February 2021. Consumer confidence also fell in July and was revised downward to 125.1. The Present Situation Index, based on consumers’ assessment of current business and labor market conditions, fell to 147.3 from 157.2 last month. The Expectations Index, based on […]

Key Points: U.S. consumer spending rose by 0.3% in July, matching economists’ expectations. Personal income increased by 1.1%, or by $225.9 Billion, in July. The overall personal consumption expenditures price index rose 0.4% in July and is up 4.2% from a year prior. The core personal consumption expenditures price index, which excludes food and energy, […]

Key Points: U.S. factories and service providers reported sharply slower growth in August, according to IHS Markit in its surveys of purchasing managers. The Composite Purchasing Managers Index (PMI) captures business conditions in the manufacturing and service sectors. A reading above 50 suggests the economy is growing. Composite PMI fell to 55.4, down from 59.9 […]

Key Points: Unemployment rates fell in 17 states and the District of Columbia and remained stable in 33 states in July. The U.S. unemployment rate fell by 0.5% over the month to 5.4%, and is 4.8% lower than June 2020. 13 states and the District of Columbia have unemployment rates above the U.S. average. Nebraska […]

Key Points: Retail sales, a measure of purchases at stores, restaurants and online, fell by 1.1% in July over the month. Consensus among economists was a 0.3% decline. Excluding autos, retail sales fell by 0.4% over the month. June’s retail sales were revised from a 0.6% gain to a 0.7% gain. The Right Facts will […]

The Claim On August 6, @POTUS tweeted “We’re now the first administration in history to add jobs every month of our first six months in office.” The Facts The Bureau of Labor Statistics provides monthly payroll data dating back to 1953. The data show 5 previous administrations started with 6 months of consecutive job growth […]

Key Points: Consumers reported a stunning loss of confidence in the first half of August. The Consumer Sentiment Index fell by 13.5% from July, to a level that was just below the April 2020 low of 71.8. This was well below consensus of an 81.2 reading and the 7th highest drop in the last 50 […]

Key Points: The number of available jobs since May has outnumbered Americans looking for work. Job openings reached 10.1 million in June but there were 8.7 million people unemployed in July. The U.S. added 943,000 jobs in July but there were 5.7 million fewer jobs than there were in February 2020. June’s 10.1 million job […]

Key Points: Total nonfarm payroll employment rose by 943,000 in July as the unemployment rate fell 0.5% to 5.4%. This is the sixth month of job gains after payrolls fell steeply in December. Nonfarm employment is down by 5.7 Million from pre-pandemic levels in February 2020. Employment in leisure and hospitality increased by 343,000, as […]

Key Points: Gas prices across the country continue to increase. Overall, the price of a gallon of regular gas has increased from $2.18 one year ago to $3.18 today. The price has increased $0.06 in the last month alone. California has the highest price at $4.38, followed by Hawaii at $4.08, and Nevada at $4.01. […]

Key Points: U.S. consumer spending rose by 1% in June, beating economists’ expectations of a 0.7% increase. Personal income increased by 0.1%, or by $26.1 Billion, in June. The overall personal consumption expenditures price index rose 0.5% in June and is up 4.0% from a year prior. The core personal consumption expenditures price index, which […]

Key Points: New home sales fell 6.6% from May to a seasonally adjusted 676K in June, a 14-month low. Consensus among economists was a 3.0% rise. New home sales are 19.4% below June 2021. Meanwhile, the FHFA reported that house prices rose nationwide in May, up 1.7% from the previous month. House prices rose 18.0% […]

Key Points: The Composite Purchasing Managers Index (PMI) captures business conditions in the manufacturing and service sectors. The Composite PMI decreased to 59.7 in July from 63.7 in June, a 4 month low. Manufacturing PMI increased to 63.1 in July from 62.1 in June. Services PMI decreased to 59.8 in July from 64.6 in June. […]

Key Points U.S. homebuilder confidence fell in July to its lowest level since August 2020, driven by shortages in both supply and labor. The NAHB Housing Market index declined to a reading of 80 this month from 81 in June. Consensus among economists expected an increase to 82. The index hit an all-time high of […]

Key Points: Unemployment rates fell in 7 states and the District of Columbia, rose in 3 states, and remained stable in 40 states in June. The U.S. unemployment rate rose by 0.1% over the month to 5.9%, and is 5.2% lower than June 2020. 16 states and the District of Columbia have unemployment rates above […]

Key Points: Retail sales, a measure of purchases at stores, restaurants and online, rose by 0.6% in June over the month. Consensus among economists was a 0.4% decline. Spending on autos fell by 2.0% over the month. May’s retail sales were revised from a 1.3% decline to a 1.7% decline. Excluding automobiles, gasoline, building materials […]

Key Points: U.S. producer prices accelerated in June with the largest annual increase in more than 10 years. The Producer Price Index (PPI) increased 1.0% in June, following 0.8% rise in May, and a 0.6% in April. PPI has increased 7.3% in the last year, the highest increase on record. Services account for nearly 60% […]

Key Points: The White House announced that the average price of a barbecue has fallen $0.16 since last year. However, prices are increasing around the country. The price of a gallon of gas has increased by $0.96 from $2.18 to $3.14 since last year. The U.S. Department of Agriculture found that this year, food-at-home prices […]

Key Points: Total nonfarm payroll employment rose by 850,000 in June as the unemployment rate increased 0.1% to 5.9%. This is the fifth month of job gains after payrolls fell steeply in December. Nonfarm employment is down by 6.8 Million from pre-pandemic levels in February 2020. Employment in leisure and hospitality increased by 343,000, as […]

Key Points: The new U.S. International Trade Commission (ITC) report looks at trade deals approved since 1984, including the North American Free Trade Agreement in 1994, the World Trade Organization in 1995, and a series of bilateral and regional trade agreements over the past 20 years. It also examined the one-year-old U.S.-Canada-Mexico Agreement, which replaced […]

Key Points: Unemployment rates fell in 21 states and the District of Columbia, rose in 1 state, and remained stable in 28 states in May. The U.S. unemployment rate fell by 0.3% over the month to 5.8%, and is 7.5% lower than May 2020. 12 states and the District of Columbia have unemployment rates above […]

Key Points: U.S. consumer spending was flat in May, falling below economists’ expectations of a 0.4% increase. Personal income fell by $414.3 Billion, or 2.3%, in May as the impact of government stimulus faded. The overall personal consumption expenditures price index rose 0.5% in May and is up 3.9% from a year prior. The core […]

Key Points: Existing home sales continue to trend down as the housing supply falls short of demand, increasing costs. Existing home sales fell 0.9% for the fourth consecutive month in May to 5.8 million. The median existing home sales price rose 23.6% in the last year, the highest increase on record. The median home price […]

Key Points: Retail sales, a measure of purchases at stores, restaurants and online, fell by 1.3% in May over the month. Consensus among economists was a 0.8% decline. Consumers spent less on autos, furniture, electronics, building materials, and other items in May. Spending at restaurants and bars rose 1.8% over the month, sending food-service sales […]

Key Points: Total nonfarm payroll employment rose by 559,000 in May as the unemployment rate fell by 0.3% to 5.8%. This is the fifth month of job gains after payrolls fell steeply in December. Nonfarm employment is down by 7.6 Million, or 5.0%, from pre-pandemic levels in February 2020. Employment in leisure and hospitality increased […]

Key Points: Existing home sales continue to trend down as the housing supply falls short of demand, increasing costs. The median existing home sales price rose 19.1% in the last year, the highest increase on record. April’s median home price of $341,600 is also the highest median price on record. Existing home sales fell 2.7% […]

Key Points: Unemployment rates fell in 12 states and the District of Columbia, and remained stable in 38 states in April. The U.S. unemployment rate remained mostly stable over the month at 6.1%, and is 8.7% lower than April 2020. 11 states and the District of Columbia have unemployment rates above the U.S. average. Nebraska, […]

Key Points: Gas prices across the country continue to increase. Overall, the price of a gallon of regular gas has increased from $1.88 one year ago to $3.04 today. The price has increased $0.17 in the last month alone. California has the highest price at $4.14, followed by Hawaii at $3.87, and Nevada at $3.59. […]

Key Points: Total nonfarm payroll employment rose by 266,000 in April as the unemployment rate rose by 0.1% to 6.1%. This is the fourth month of job gains after payrolls fell steeply in December. Nonfarm employment is down by 8.2 Million, or 5.4%, from pre-pandemic levels in February 2020. Employment in leisure and hospitality increased […]

Key Points: The Biden Administration’s proposed capital gains tax of 43.4% would move the U.S. to the 3rd highest rate of any country. The Tax Foundation estimates that including state taxes, the unweighted U.S. average would increase to 48.4%, moving to the 2nd highest rate of any country. The current unweighted U.S. average capital gains […]

Key Points: The Manufacturing Purchasing Managers Index (PMI) captures business conditions in the manufacturing sector. Readings above 50 imply the economy is expanding while readings below 50 imply economic contraction. Manufacturing PMI decreased to 60.7 in April from 64.7 in March. The 2.03 loss exceeded the consensus among economists of a 0.3 gain. This figure […]

Key Points: Household income rose at a record pace of 21.1%, or $4.21 trillion, in March, fueled by federal stimulus checks. The surge in income last month was the largest monthly increase on record tracing back to 1959. Consumer spending also increased 4.2% in March. This was the steepest monthly increase since last summer. The […]

Key points: Lawmakers are debating repealing the state and local tax (SALT) cap. 86 Percent of the total tax reduction from the state and local tax (SALT) cap lift goes to rich taxpayers making over $500,000; though they are just one percent of total taxpayers. The biggest effect of SALT repeal would be to lower […]

Key Points: The Biden administration proposed to increase the capital gains tax rate from 20% for most assets held for at least a year, to 39.6% for people making more than $1 million. Capital gains are also subject to the 3.8% Medicare tax, bringing the new capital gains rate to 43.4%. The current top rate […]

Key Points: The consumer price index rose 0.6% in March from February, accelerating costs from last month’s 0.4% increase. This is the highest monthly increase since August 2012. Prices jumped 2.6% year over year, up from a 1.7% annual increase in February. Gasoline prices rose 9.1% in March, accounting for nearly half of the index’s […]

Key Points: Gas prices across the country continue to increase. Overall, the price of a gallon of regular gas has increased from $1.91 one year ago to $2.87 today. California has the highest price at $3.93, followed by Hawaii at $3.71, and Nevada and Washington at $3.34. Mississippi has the lowest price at $2.59, followed […]

Key Points: Total nonfarm payroll employment improved in March, adding 916,000 jobs as the unemployment rate fell by 0.2% to 6.0%. This is the third month of job gains after payrolls fell steeply in December. Job growth was widespread in March, led by gains in leisure and hospitality, public and private education, and construction. Employment […]

Key Points: The Biden Administration unveiled a $2 Trillion infrastructure package on Wednesday. The proposal would be paid for over the next 15 years by raising the corporate tax rate to 28% from 21% and increasing taxes on companies’ foreign earnings. The proposal includes $621 billion to modernize transportation infrastructure, $400 billion to help care […]

Key Points: Return to Learn has launched a new tracker that measures schools returning to in-person learning across the country. As of March 15, the data shows that 37% of school districts have resumed in-person learning, 54% have hybrid classes, and 9% are still entirely remote. Florida has returned to 100% in-person classes, followed by […]

Key Points: Unemployment rates fell in 23 states and the District of Columbia, higher in 4 states, and remained stable in 23 states in February. The U.S. unemployment rate remained mostly stable over the month to 6.2%, but is still 2.7% higher than February 2020. 12 states and the District of Columbia have unemployment rates […]

Key Points: Orders for durable goods fell in February as U.S. factories faced supply-chain challenges. Durable goods are products designed to last at least three years, such as computers and machinery. New orders for durable goods decreased 1.1% to $254 Billion in February from January. The previous nine months had recorded gains, following sharp declines […]

Key Points: Retail sales, a measure of purchases at stores, restaurants and online, fell by 3% in February over the month. January sales were revised to 7.6%, up from the earlier estimate of a 5.3% increase. Consumers spent less on autos, furniture, electronics, home improvement, healthcare and clothing in February. Sales at gas stations were […]

Key Points: Unemployment rates fell in 33 states and remained stable in 17 states and the District of Columbia in January. The U.S. unemployment rate fell by 0.4% over the month to 6.3%. 19 states and the District of Columbia have unemployment rates above the U.S. average. South Dakota and Utah have the lowest rates […]

Key Points: The Michigan Consumer Sentiment Index released by the University of Michigan is a survey of personal consumer confidence in economic activity. 78.5 was the consensus among economists, but in actuality the Index increased to 83.0 in early March. The largest monthly gains were concentrated among households in the bottom third of the income […]

Key Points: Total nonfarm payroll employment improved in February, adding 379,000 jobs as the unemployment rate fell by 0.1% to 6.2%. This is the second month of job gains after payrolls fell steeply in December. Employment in leisure and hospitality increased by 355,000 jobs in February, led by food services and drinking places increasing by […]

Key Points: The Manufacturing Purchasing Managers Index (PMI) captures business conditions in the manufacturing sector. Manufacturing PMI increased to 60.8 in February from 58.7 in January. The 2.1 gain exceeded the consensus among economists of a 0.86 increase. This figure is the highest since September 2018 and indicates expansion in the overall economy for the […]

Key Points: Florida has taken criticism for not implementing strict lockdowns like many states because of their large senior population, who are more at risk from COVID. However, the data suggest Florida is navigating the pandemic better than most states. Florida has a lower COVID mortality rate for seniors than New York, California, and the […]

Key Points: The nonpartisan Congressional Budget Office found in a 2019 study that raising the federal minimum wage to $15 an hour by 2025 could cost 1.3 million Americans their jobs. The leisure and hospitality industry comprised 37.3% of all federal minimum wage workers in 2019, 22.8% from retail, and 14.1% from education and health […]

Key Points: The Consumer Sentiment Index released by the University of Michigan is a survey of personal consumer confidence in economic activity. Consumer sentiment expected to rise to 80.8, but in reality fell to 76.2. The entire loss in sentiment was concentrated in the Expectation Index and among households with incomes below $75,000. Consumer sentiment […]

Key Points: The NFIB Small Business Optimism Index declined in January to 95.0, down 0.9 from December. January’s index is 3.0 points below the 47-year average of 98. Consensus among economists on the January index was an increase to 98.7. Owners expecting better business conditions over the next six months declined to the lowest level […]

Key Points: Total nonfarm payroll employment rebounded slightly in January, adding 49,000 jobs as the unemployment rate fell by 0.4% to 6.3%. The January gains came after payrolls fell steeply in December. Employment in leisure and hospitality declined by 61,000 jobs in January, employment in healthcare declined by 30,000, employment in the amusements, gambling, and […]

Key Points: Unemployment rates fell in 19 states, rose in 12 states and the District of Columbia, and remained stable in 19 states in December. The U.S. unemployment rate remained unchanged over the month at 6.7%. 33 states have unemployment rates below the U.S. average. Hawaii has the highest unemployment rate at 9.3%, followed by […]

Key Points: Existing-home sales rose in December, with home sales in 2020 reaching their highest level since 2006, according to the National Association of Realtors. Existing-home sales totaled $5.64 million in 2020, up 5.6% from 2019 and the most since before the Great Recession. The median existing home sales price was $309,800, up 12.9% from […]

Key Points: The World Bank projects the global economy to have pulled back by 4.3% last year due to the COVID pandemic. European countries are expecting a 7.4% contraction and the U.S. GDP is expected to have contracted by 3.6%. Meanwhile, according to a Monday release from Beijing, China’s economy expanded by 2.3% in 2020, […]

Key Points: Retail sales dropped 0.7% in December for the third consecutive monthly decline. Excluding auto and gasoline sales, retail sales fell by 2.1%. December typically marks the peak of the holiday shopping season, but this year businesses are reporting mixed sales results. The report followed last week’s employment release showing a decline in jobs […]

Key Points: President-Elect Joe Biden has pledged to eliminate oil-and-gas permitting on federal lands. The ban would eliminate more than 72,000 jobs per year over the next four years, reaching around 351,555 in total between 2036 and 2040. Western states, including Wyoming, New Mexico, Colorado, Utah, Montana, North Dakota, California, and Alaska, would be most […]

Key Points: Total nonfarm payroll employment declined by 140,000 in December, and the unemployment rate was unchanged at 6.7%. December’s decline ended 7 months of consecutive job growth. Employment in leisure and hospitality declined by 498,000, employment in the amusements, gambling, and recreation industry declined by 92,000, Government employment declined by 45,000, and the accommodation […]

Key Points: The Manufacturing Purchasing Managers Index (PMI) captures business conditions in the manufacturing sector. Readings above 50 imply the economy is expanding while readings below 50 imply economic contraction. Manufacturing PMI increased to 60.7 in December from 57.5 in November. The 3.2 gain exceeded the consensus among economists of a 0.9 decline. This figure […]

Key Points: Unemployment rates fell in November in 25 states, rose in 7 states, and remained stable in 18 states as the U.S. unemployment rate fell by 0.2% points over the month to 6.7%. 26 states have unemployment rates below the U.S. average. New Jersey has the highest unemployment rate at 10.2%, followed by Hawaii […]

Key Points: Lawmakers are contemplating providing financial assistance to state and local governments in the next stimulus bill. Over the past decade, most states balanced budgets or ran surpluses. Some, however, did not. The map shows how many annual budget deficits each state ran between 2004 and 2018. Persistent deficits as well as unforeseeable events […]