This week, the Federal Reserve announced it will keep its benchmark interest rate in the same 5.25%–5.50% holding pattern that it has occupied since last July. The move went against the expectations of many economists who were anticipating a rate cut, but Fed Chair Jerome...
The number of initial claims for unemployment insurance held steady during the week ending on Saturday (April 27). The total of 208,000 initial claims was unchanged from that of the previous week, which was revised up by 1,000 to 208,000, the Department of Labor (DOL) said in...
It’s been a season of slowing sales for quick-service restaurants (QSRs). That could mean these fast-food brands have to launch greater promotions to attract cost-conscious diners, Reuters noted in a Thursday (May 2) report. “The lack of value offers has opened up consumers to shop for different...
Construction spending in the U.S. declined unexpectedly in March after being unchanged in February. Data from the Census Bureau released Wednesday (May 1) showed spending at a seasonally adjusted annual rate of $2.083 trillion, 0.2% below the revised February estimate of $2.087 trillion. A report by Reuters notes the dip...
Nine out of 10 industry sectors monitored by ADP posted job gains in April. The sole exception was the information sector, which lost 4,000 jobs during the month, the human resources (HR) and payroll solution provider said in a Wednesday (May 1) press release detailing...
American labor costs rose more than anticipated last quarter, new government data shows. The Employment Cost Index (ECI), a measure of wages and benefits, climbed 1.2% last quarter after increasing by an unrevised 0.9% during the last three months of 2023, the Bureau of Labor Statistics said...
The latest data on personal consumption notes that spending is outpacing the growth in disposable income. And as a result, consumers are dipping into savings to keep their spending apace. The latest personal income expenditures (PCE) price index from the Bureau of Economic Analysis indicates...
And now it seems the slowdown is here. Markets slumped by more than 1% Thursday morning (April 25) on the latest reading on gross domestic product (GDP) growth, courtesy of the Bureau of Economic Analysis — which we note is an advance estimate of first-quarter...
JPMorgan Chase CEO Jamie Dimon reportedly said Tuesday (April 23) that the U.S. economic boom is “unbelievable.” Speaking at an event at The Economic Club of New York, Dimon said employment is strong, consumer finances are healthy, and consumers would still be in good shape even if the economy...
