Jump in Consumer Prices Raises Stakes in Inflation Debate
The increase in the Labor Department’s Consumer Price Index was well above forecasts. A top Fed official acknowledged the surprise but said, “This is one data point.”
There’s a good chance that you’ve been to your local grocery store or stopped by your favorite fast food location and noticed signs for hiring bonuses, but why aren't more workers signing up?
Restaurant prices in the 19th century (followed by 20th, below) Note: Until the mid-19th century prices were often quoted in shillings and pence, or in Spanish dollars. One Spanish bit = 12½¢; One …
US recovery from pandemic recession is showing momentum
Powered by consumers and fueled by government aid, the U.S. economy is achieving a remarkably fast recovery from the recession that ripped through the nation last year on the heels of the coronavirus and cost tens of millions of Americans their jobs and businesses. The number of people seeking unemployment aid — a rough reflection of layoffs — last week reached its lowest point since the pandemic struck. Economists say that widespread vaccinations and declining viral cases, the reopening of more businesses, a huge infusion of federal aid and healthy job gains should help sustain steady growth.
Potential jobs candidates are met by a 7-foot robot of embossed steel, aluminum and plastic upon entering industrial automation and light assembly firm Morrell Group. A soldier, of sorts, reminiscent of the red-armored Master Chief from the popular Xbox video game Halo. But instead of battling for…
Jobless claims rise in Michigan, likely linked to chip shortages
Despite new U.S. jobless claims reaching the lowest point since the pandemic began more than a year ago, claims in Michigan rose last week.
For the week ending April 17 in Michigan, 21,861 filed new unemployment claims, up from 16,470 the week prior.
Nationally, 547,000 filed new claims last…
U.S. producer prices increased by more than forecast in March
U.S. producer prices climbed more than forecast last month in a broad advance, indicating inflationary pressures continue to build across the nation's economy.The producer price index for final demand increased 1 percent in March from the prior month after a 0.5 percent gain in February, the Labor…
Help wanted: Variety of factors at play as small businesses, restaurants struggle to add staff
If you're out and about and noticing "Now hiring!" signs at every turn, there's a reason: Small businesses are having issues staffing up in the COVID-19 pandemic era.A combination of extended unemployment benefits, fears about contracting the coronavirus in the workplace and a lack of stability in…
March hiring accelerated to 916K, yet many jobs remain lost
WASHINGTON (AP) — America’s employers unleashed a burst of hiring in March, adding 916,000 jobs in a sign that a sustained recovery from the pandemic recession is taking hold as vaccinations...
Is Inflation on the Horizon for the U.S. Economy? | St. Louis Fed
U.S. inflation has generally been below the Fed’s 2% target since 2012. St. Louis Fed President James Bullard discusses reasons inflation could move somewhat higher over the next year or so.
Detroit unemployment rate won't fall to pre-pandemic levels until 2025, and other economic takeaways
Detroit's unemployment rate won't get back to pre-pandemic levels again until 2025. That's the latest finding from the City of Detroit-University Economic Analysis Partnership that produces job and wage data with support from the University of Michigan, Michigan State University and Wayne State…