Category: Weekly Economic Updates

HIRING PICKS UP AGAIN The Department of Labor announced some good news Friday: the creation of 222,000 net new jobs in June, the largest hiring gain in four months. Approximately 4.7 million…

HOUSEHOLD EARNINGS OUTPACE SPENDING According to newly released Department of Commerce data, personal incomes improved 0.4% in May, but personal spending advanced just 0.1% after a 0.4% gain in April. Core consumer…

MORE HOMES MOVED IN MAY In a pleasant surprise for economists, both new and existing home sales picked up last month. The National Association of Realtors announced a 1.1% gain…

FED DELIVERS EXPECTED & UNEXPECTED NEWS As Wall Street anticipated, the Federal Reserve raised interest rates on June 14. The Federal Open Market Committee voted 8-1 to take the benchmark interest…

AN UPBEAT REPORT ON THE SERVICE SECTOR The Institute for Supply Management’s May non-manufacturing purchasing manager index displayed a reading of 56.9 last week, showing expansion in U.S. service industries for an…

JOB CREATION, JOBLESS RATE DOWN IN MAY A day after ADP’s employment change report estimated a hiring gain of 253,000 in May, the Department of Labor’s latest jobs report told a…

CONSUMER SENTIMENT DECLINES JUST A BIT Ending May at a mark of 97.1, the University of Michigan’s consumer sentiment index fell 0.6 points from its preliminary reading for the month. Economists…

CONSTRUCTION ACTIVITY SLOWED IN APRIL Against expectations, both housing starts and building permits declined in the fourth month of the year. Newly released Census Bureau data shows a 2.5% retreat for permits…

A SOLID RETAIL SALES READING Americans bought more in April. The pace of retail purchases hastened by 0.4% last month, and the Bureau of Economic Analysis revised the 0.2% March retreat…

NEW DATA SHOWS MORE HIRING, LESS SPENDING Unemployment hit a 10-year low in April as payrolls swelled with 211,000 net new jobs, a rebound from the meager gains of March.…