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…
US consumers rebound to boost spending 2.4% as income jumps
WASHINGTON (AP) — Bouncing back from months of retrenchment, America's consumers stepped up their spending by a solid 2.4% in January, the sharpest increase in seven months and a sign that the...
Coronavirus: Sweatpants and hand sanitiser added to UK inflation calculations
The stats body said it had considered adding face masks and face covering but decided not to because 'usage could decrease rapidly once the population have been vaccinated.'
U.S. labor market struggling, but light at the end of tunnel | Reuters
The number of Americans filing new applications for unemployment benefits fell slightly last week as the labor market continued to tread water, but a drop in new COVID-19 cases has raised cautious optimism that momentum could pick up by the spring.
Latest jobs report shows why the unemployment rate needs fixing - Phil Davis
Many economists would agree that the official U.S. unemployment rate is an inadequate measure of actual labor market conditions. Although this is one of the most cited pieces of data on the economy as a whole, not many people understand how this indicator is calculated and who is and – more importantly – who isn’t included in it. The latest data, which found that joblessness fell from 6.7% in December to 6.3% in January, shows why.
U.S. Economy Slows Sharply As Pandemic Resurges : NPR
The Commerce Department says the U.S. economy grew just 1% in the last three months of the year, as a rise in coronavirus infections weighed on in-person businesses like restaurants.
U.S. women, workers of color bear brunt of December job losses
The U.S. labor market lost jobs in December for the first time in eight months, while women and workers of color continue to bear the brunt of job losses as the coronavirus pandemic rages across the U.S.Unemployment for women and Hispanic workers rose in December for the first time in eight months,…