New filings for jobless benefits dropped to the lowest level since 1969 last week as robust labor demand continued to leave businesses with no choice but to hold on to their workers. The claims fell to 184,000 for the week ending Dec. 4, down from 227,000 in the previous week, according to Labor ... READ MORE >
Chart of the day: Job openings rise to second highest on record as quit rate slowed
The demand for labor stayed strong in October as concerns over the delta variant faded and the economy continued to bounce back from the pandemic. Job openings, a proxy for labor demand, reached 11.03 million, exceeding 11 million for the second time on record, slightly lower than the all-time high set ... READ MORE >
Chart of the day: U.S. trade deficit improved significantly in October
The United States trade deficit posted a sharp decline in October to $67.1 billion from the record $81.4 billion in September, according to data released by the U.S. Census Bureau on Tuesday. The improvement was led by a surge in exports, which rose by $16.5 billion, or an 8.1% increase on the month, ... READ MORE >
Chart of the day: Service sector expands at record pace
The shift back to spending on services continued to accelerate in November as the headline purchasing managers’ index for services reached an all-time high, according to data released by the Institute of Supply Management on Friday. The headline index rose to 69.1 on the month from 66.7, the third ... READ MORE >
Initial jobless claims tick up but labor market remains tight
New filings for jobless claims rose on a seasonally adjusted basis to 222,000 for the week ending Nov. 27, beating expectations and continuing the overall improvement of the labor market, according to government data released Thursday. After a sharp drop in the week before Thanksgiving, the new jobless ... READ MORE >
Chart of the day: Manufacturing sector gained as price pressures eased
The manufacturing sector grew at a slightly higher pace in November than in October as demand for manufactured goods remained robust, according to a new survey of purchasing managers from the Institute for Supply Management on Wednesday. The top-line index registered at 61.1 on the month, up from 60.8 ... READ MORE >
ADP jobs report: Large firms continued to pull ahead in November
The ADP report for private nonfarm employment in November posted a slightly lower gain than in October yet it still beat market expectations, a sign that the labor market is continuing to recover. The headline figure for net monthly change in U.S. payrolls eased to 534,000 on the month, down from ... READ MORE >
Chart of the day: U.S. consumer confidence inches down
Consumer confidence inched down in November to 109.5, the lowest since March, as inflation continued to take its toll, according to a report from the Conference Board on Tuesday. Now, with the emergence of the omicron variant of the coronavirus, which is not reflected in the November data, consumer ... READ MORE >
Trade in 2022: Supply chain challenges and policy implications
Nearly two years after the pandemic shut down the global economy, policymakers are facing a new challenge as global supply chain bottlenecks push up inflation and hamper economic growth. How countries confront these disruptions will have a big impact on economic growth in the coming year. We expect ... READ MORE >
Pending home sales in October rebounded to highest in 2021
Pending home sales rebounded by 7.5% in October following a small decline of 2.4% in September, continuing their rise from a recent low in April, according to new data on Monday from the National Association of Realtors. The sharp increase in contract signings month-over-month pointed to housing demand ... READ MORE >