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…
Read More »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…
Read More »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…
Read More »With inflation continuing unbridled at record-setting levels, its impact on minimum wages across the nation is becoming clearer with each week. As we’ve advised in the past, and as recently as only two weeks ago, those states and local communities that tethered minimum wage increases to the Consumer Price Index. Unfortunately, there are more increases…
Read More »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…
Read More »The 2022 CFA Legal Symposium is just a month away and will be held at the Margaritaville Resort in Orlando, Florida, on October 26 & 27! And, as long as you register by October 15, you can take advantage of the discounted Early Bird Rate of only $99, so act today and save! You’ll enjoy…
Read More »The Employment Policies Institute (EPI) recently released a new report revealing that a majority of economists across the country are against raising the federal minimum wage to $15 an hour. The report surveyed some 160 economists with a full 75 percent believing that the change would have a negative effect on youth employment levels while…
Read More »As many states updated and increased their minimum wages over the past several years, a goodly number of them chose to tether future increases to the Consumer Price Index. California was one of those states with state law providing that should inflation increase by more than 7% over the prior fiscal year, then all employers…
Read More »Well, the big bad news hit Wednesday with the Federal Reserve raising its overnight interest rate by half a percentage point, a move not seen in 22 years, and of course, that was followed by the Dow dropping over 1,000 points yesterday. The Bureau of Labor Statistics (BLS) announced at the beginning of this week…
Read More »More bad news on the economic front as the U.S. economy shrunk at a 1.4% annualized rate during the first three months of 2022. The report from the Commerce Department Bureau of Economic Analysis pointed to a spike in imports along with a decline in exports as a couple of primary causes of the downturn.…
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