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 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 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

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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Economic Trends

You know about the ever-increasing inflation rate of 9.1% for June 2022 over one year ago (highest since November 1981), so we won’t dwell on that. And against that backdrop, new data from the U.S. Bureau of Labor Statistics released this week indicates that of the 372,000 jobs added in June, the restaurant and bars accounted…

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Economic Trends

The labor shortage continues to wreak havoc with many small businesses across the country notwithstanding the addition of some 23,000 in the leisure and hospitality industry last month with restaurants and bars accounting for nearly half that job growth, according to new data from the Bureau of Labor Statistics. Furthermore, average hourly earnings rose 4.8…

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Economic Notes

As the economy continues to rebound, albeit more slowly than we’d all prefer, the leisure, food service and hospitality industries are more than pulling their weight. According to the Bureau of Labor Statistics (BLS), the leisure and hospitality industry adding 174,000 jobs total in August, of which restaurants and bars accounted for 133,600 of them…

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Jobless Claims Beginning to Spike

As COVID-19 continues to spread around the nation the inevitable jump in unemployment claims is seemingly now beginning in earnest. According to the weekly initial unemployment claims data from the Department of Labor, seasonally-adjusted initial claims were some 70,000 higher for the week ending March 14 than they were in the prior week. Total initial…

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Strong Economy – Through February Anyway

We all know how the economy has tanked over the past week or so as a result of the coronavirus, but according to the Bureau of Labor Statistics (BLS), it was still going gangbusters through February. The BLS reported the addition of 273,000 new non-farm jobs in February with the unemployment rate remaining steady at…

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Economic Growth Continues

Notwithstanding many who for their own political reasons “wish it weren’t so”, the nation’s economy continued to grow and strengthen through June with average hourly earnings increasing 0.2% for the month. According to the Bureau of Labor Statistics (BLS), year over year, real average hourly earnings grew 1.5 percent from June 2018 to June 2019…

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