WASHINGTON (AP) — Fewer Americans sought unemployment benefits last week — the latest encouraging sign for the rebounding U.S. economy — just as Republican-led states are moving to cut off a federal benefit for the jobless.

The U.S. economy is strengthening quickly, although inflation is rising and a shortage of semiconductor chips has created a temporary headwind.

We provide explanations of basic and fundamental concepts on the definition of inflation, measurement of inflation, costs of inflation, the importance of measuring and controlling inflation, the role of the Federal Reserve in inflation, and other concepts such as price indexes, hyperinflation, trend and underlying inflation, measures of inflation like CPI, core CPI, median CPI, trimmed-mean CPI, PCE, core PCE, and trimmed-mean PCE.

Focus on exactly how and why prices are changing over time, and how these shifts might affect you.

Workers, after enduring a year of job losses, business closures and social distancing, are no longer interested in accepting low wages.

U.S. job growth unexpectedly slowed in April, likely curbed by shortages of workers and raw materials as rapidly improving public health and massive government aid fueled an economic boom.

The share of people working or looking for work edged higher last month — but it remains way below its level before the pandemic.

Hiring was a huge letdown in April, with nonfarm payrolls increasing by a much less than expected 266,000 and the unemployment rate rose to 6.1%.

Prices are rising fast, in ways that seem temporary, yet this could change expectations in ways that are self-reinforcing.

The Consumer Price Index rise for April from a year earlier was the sharpest since September 2008.

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?

What Is potential GDP?

It's going Dow... and Wall Street yelled "timber" (thanks, Ke$ha). The industrials-heavy Dow index fell 1.4% yesterday, after closing last week...

Used car prices jumped 10% in April and accounted for more than a third of the monthly increase in consumer prices

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 …

Groceries, commodities, and more are experiencing temporary post-pandemic inflation

Relief checks drove consumer spending on goods in the first quarter. Pent-up demand for services may be the key going forward.

Why you need to stock up on wine, used cars, diapers and potted plants now.

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.

The gross domestic product data marked the second-fastest pace for growth since the second quarter of 2003.

For better or for worse, labor-saving tech can actually lead to more work.

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…

Charmin, Tide, Gillette, Swiffer... Your pandemic grocery list = Procter & Gamble's pandemic winners list. In October, the consumer packaged...

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…

Today’s data reflects backward-looking information, which is not necessarily a sign of what’s ahead.

Health concerns, expanded jobless benefits and still being needed at home are among the reasons would-be workers might be staying away.