Economic Trends

Inflation slowed more sharply than expected in November in an encouraging sign, but the Federal Reserve plowed ahead yesterday with another half-point increase in interest rates, bringing them to their highest point since the 2008 recession. Inflation eased somewhat through the month of November with annualized prices increasing 7.1 percent, down from 7.7 percent last…

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Economic Trends

November’s job numbers as reported by the Bureau of Labor Statistics (BLS) showed employers added more than 260,000 jobs in November despite other indicators pointing toward a slowing economy. Of those positions, leisure and hospitality added 88,000 jobs in November with restaurants and bars leading overall in employment gains, accounting for over 62,000 new positions.…

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Economic Trends

The US Bureau of Labor Statistics (BLS) reported last week that the real average hourly earning for all employees decreased 0.1 percent from September to October, seasonally adjusted. The result stems from an increase of 0.4 percent in average hourly earning combined with an increase of 0.4 percent in the CPI combined with no change…

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Economic Trends

The Labor Department reported earlier this week that employers added 261,000 jobs in October while the unemployment rate increased to 3.7% for the month. At the same time, according to the Bureau of Labor Statistics, the total number of unemployed persons rose by 360,000 to 6.1 million! And yesterday the BLS released inflation numbers for…

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Economic Trends

Consumer sentiment with the U.S. increased slightly in early October, reaching its highest level since April. According to the University of Michigan preliminary estimate of its consumer sentiment index, consumers are slightly more optimistic with the index hitting 59.8 in October, up from 58.6 in September. The index measuring American consumer assessment of current economic…

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Economic Trends

The political spin from both sides of the aisle may paint a confusing picture, but the numbers certainly bring a degree of clarity to where the economy is currently. Inflation accelerated in September with consumer prices rising 8.2% over last year as prices on a host of items intensified pressure on households and wiped-out gains…

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Economic Trends

The US Bureau of Labor Statistics (BLS) a few week ago released new data that showed consumer prices at full-service restaurants increase 9 percent in August compared to the year before, even surpassing the economy-wide four-decade record inflation rate of 8.3 percent! Meanwhile, costs of food consume at home skyrocketed by 13.5 percent over the…

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Economic Trends

The unemployment rate increased slightly in August, despite the economy adding another 315,000 jobs during the month. According to the Bureau of Labor Statistics (BLS), the unemployment rate in August was at 3.7 percent, up from the 3.5 percent recorded one month earlier. Despite the labor shortage, an additional 344,000 were added to the unemployment…

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Economic Trends

According to new data released this week from the Bureau of Economic Analysis, U.S. consumer spending ticked up by 0.1 percent in July—which marks a slowdown from the previous month when the indicator jumped by one percent. The deceleration of consumer spending however, comes as households face persistently high inflation and rising interest rates. And,…

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Economic Trends

The curse of inflation continues to haunt the US economy with the Consumer Price Index showing no change month to month, but up 8.5% in July over July 2021. Overall prices were flat through July, with falling gasoline prices skewing the picture. Core CPI, which strips out food and energy prices, climbed 5.9% annually and…

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