First-time jobless claims increased to 412,000 for the week ending June 12, from a revised 375,000 previously, the government said on Thursday. However, the top-line increase remains well below the 529,200 13-week moving average within the series, implying that conditions for further improvement remain intact. … READ MORE >
FOMC comment: Fed creates context to end pandemic policy efforts
At the monthly meeting of the Federal Open Market Committee, the central bank kept its policy rate unchanged in a range between zero and 25 basis points. But it is clear we have entered the beginning of the end to the Fed’s emergency programs. … READ MORE >
FOMC preview: Growth and inflation and tapering, oh my!
The Federal Open Market Committee will leave its policy rate unchanged at its meeting this week, but that decision will mask an underlying shift in its economic projections and policies. … READ MORE >
What’s behind the recent decline in 10-year Treasury yields
The yield on 10-year Treasury bonds has dropped nearly 25 basis points to below 1.5%, touching 1.42% overnight on June 11 from its recent peak of 1.74% on March 31. … READ MORE >
CHART OF THE DAY: Initial jobless claims continue downward trend
Initial jobless claims continued to decelerate for the sixth straight week as the labor market slowly normalizes, according to government data released Thursday. … READ MORE >
May CPI: Prices surge on strong base effects and economic reopening
We do not expect that these price increases will ease until the fall, when we expect that inflation will peak at just under 5% on a quarterly basis and then begin to ease back toward the Federal Reserve’s 2% target over the next year. … READ MORE >
RSM Canada Financial Conditions Index: Accommodation to continue while economy recovers
The Bank of Canada reiterated its intention to maintain an accommodative monetary policy stance as the economy continues to recover and financial conditions remain one standard deviation above neutral. … READ MORE >
CHART OF THE DAY: April JOLTS data shows tightening in the labor market, but it’s nothing new
The federal government’s job openings and labor turnover data for April, also known as JOLTS, implies that while the labor market has tightened, this is nothing new. … READ MORE >
UK economic chartbook: Consumers gain more confidence
Mass vaccinations have stimulated a revitalization of the domestic U.K. economy in recent months, which is resulting in a rapid normalization of consumer behavior. … READ MORE >
Pandemic pressures leave women struggling to regain lost ground on jobs
During the pandemic, women have taken the brunt of the damage to the labor force, whether in the form of losing their jobs or working triple-duty at home with child care and education on top of their work obligations. … READ MORE >