The number of initial claims for unemployment insurance dropped by 10,000 during the week ended Saturday (May 11), reversing about half of the increase that was seen a week earlier. The total of 222,000 initial claims filed during the week was down from the previous...
American medical care costs have gone up, and that’s reportedly helped inflation remain high. Hospital prices climbed 7.7% between April 2023 and April 2024, the biggest monthly increase since October 2010, The Wall Street Journal (WSJ) reported Thursday (May 16), citing data from the U.S. Department of Labor. The...
April’s Consumer Price Index (CPI) data shows that inflation’s torrid pace is cooling, at least a bit. But one would be hard-pressed to think anything resembling relief is being felt by the U.S. consumer. As reported Wednesday (May 15), the CPI released by the Bureau...
It remains to be seen if April will be the pause that refreshes or if consumers will pinch their wallets shut for a longer period, ushering in summer doldrums for merchants. The U.S. Department of Commerce detailed Wednesday (May 15) that in April, retail sales were unchanged in March, which in turn had been revised downward...
Bank of America’s CEO says consumer spending is still healthy despite steep interest rates. Spending has risen between 3% and 4% this month compared to a year ago, Brian Moynihan said in an interview with Bloomberg News Monday (May 13). He added that uptick is indicative of a slower-growth, lower-inflation...
This week, the latest spate of data from the government on spending trends will be released. Retail sales data will track consumer demand for finished goods that fly off merchants’ real and virtual shelves. The Personal Consumption Expenditures Index will give a sense of how...
U.S. corporate bankruptcies reached their highest level in a year in April. That’s according to a Sunday (May 12) report by Seeking Alpha, citing data from S&P Global Market Intelligence which shows companies pressured by continued high interest rates. The data showed 66 new bankruptcy filings last...
McDonald’s is reportedly encouraging franchisees to vote to implement a $5 meal deal to bring back consumers who have left because of high prices. Franchisees — which can weigh in on major marketing campaigns — rejected the fast-food giant’s proposal earlier this year, but the issue has...
The number of initial claims for unemployment insurance leapt by 22,000 during the week ended Saturday (May 4). The total of 231,000 initial claims filed during the week was up from the previous week’s revised figure of 209,000, the Department of Labor (DOL) said in a Thursday (May 9) press release. The...
