While there has been a clear upward trend in new unemployment claims, the number remained relatively low compared to the historical standard, especially with significant downward revisions to data for the last two weeks of July. … READ MORE >
Initial jobless claims rise amid labor market slowdown
New claims for jobless benefits rose by 2.4% to 260,000 for the week ending July 30, after a brief decline in the prior week. … READ MORE >
Service sector grew faster in July, beating forecasts
The service sector grew faster than expected in July on the back of broad-based increasing business activities and new orders. … READ MORE >
The worst of the Great Resignation might be over, but not for small businesses
The record high turnover in the job market, known as the Great Resignation, is showing signs of easing, but that may not be the case for small businesses. … READ MORE >
Job openings drop in June amid Fed’s attempt to control inflation
Job openings in the United States fell for the third straight month in June as the labor market started to loosen up, the Bureau of Labor Statistics reported on Tuesday. Job openings—which represent labor demand—have been the main target of the Federal Reserve to lessen the second-round impact on wage-pushed inflation. … READ MORE >
Manufacturing sector activity hits lowest level in two years
The manufacturing purchasing managers’ index inched down to 52.8 from 53 the previous month, still indicating growth as readings above 48.7 generally show business expansion. … READ MORE >
American spending and income eroded by multi-decade high inflation
As the first-round effect of inflation on goods and services continues to play out, the second-round effect on wage pressure is showing more concerning signs. … READ MORE >
Jobless claims in July continue rising layoffs trend
Initial jobless continue to trend above the pre-pandemic average, as the U.S. economy contracted for the second consecutive quarter. However, continued jobless claims remain flat, suggesting people receiving unemployment benefits aren’t remaining unemployed for long. … READ MORE >
Unexpectedly strong durable goods orders and trade data temper recession concerns
Durable goods orders and goods trade deficit in June beat expectations, according to data released Wednesday, tempering recession concerns before the Federal Reserve is expected to announce a rate hike later in the day. … READ MORE >
Consumer confidence drops as new home sales slump
Consumer confidence continued to fall in July to the lowest level since February 2021 amid inflation angst and an economic slowdown. Sales of new homes fell by 8.1% in June. … READ MORE >









