Lower inflation and interest rates may give some relief to consumers who need it most, Wells Fargo CEO Charlie Scharf said Friday (Oct. 11). Speaking during the company’s quarterly earnings call, Scharf said the bank has not seen changes in delinquencies or spending that would...
Consumer sentiment inched down in early October amid continued frustration over the prices of goods and services. While it dipped a “meager” 1.7% or 1.2 index points — a figure that is within the margin of error — it marked a change from the gains...
The Producer Price Index (PPI) was unchanged in September after rising 0.2% in August. The PPI, which measures wholesale prices, saw a 0.2% increase in the index for final demand services offset a 0.2% decline in prices for final demand goods, the Bureau of Labor...
In economics, there’s often a bifurcation when it comes to data — the difference between what the headlines tell us and what the wallet feels. Case in point: Septembers’ official reading on consumer price increases reflected an overall slowing pace of inflation — on an...
The effects of Hurricane Helene, cutbacks in the auto industry and furloughs related to a strike at Boeing drove U.S. jobless claims to their highest total in a year. During the week ended Saturday (Oct. 5), there were 258,000 initial claims for unemployment insurance — a...
Monday (Oct. 7) marked a double dose of economic data that provided a continued diet of mixed signals. First up, the Federal Reserve’s latest data on consumer credit showed an overall slowdown in the annualized gain for credit overall in August, ratcheting down to a 2.1%...
The United States economy added 254,000 jobs in September, exceeding economists’ expectations and potentially mitigating some recent concerns about job prospects among the paycheck-to-paycheck consumer segment. The gains in total nonfarm payroll employment also surpassed the average monthly gain over the previous 12 months, which...
America’s private sector added 143,000 jobs in September, rebounding following a five-month slowdown. There was also wage growth, with annual pay rising 4.7% year over year, a slight decline, payroll solutions firm ADP said in a Wednesday (Oct. 2) press release, citing its National Employment...
In the U.S. economy, the jobs market has been volatile to say the least. To that end, the most recent Job Openings and Labor Turnover report released Tuesday (Oct. 1) by the Bureau of Labor Statistics shows that the total, “headline” number of jobs available...
